Chuck Grassley: “there are a number of misconceptions about the upcoming vote in the Senate to grant China permanent normal trading…”

“there are a number of misconceptions about the upcoming vote in the Senate to grant China permanent normal trading relations or, as we often call it, PNTR. I will refer to it as normal trading relations. Today, as chairman of the International Trade Subcommittee, and to inform my colleagues about the importance of this issue because I favor normal trading relations with China, I want to address two misunderstandings regarding China. The first misconception is that a vote by the Senate on normal trading relations is a vote to admit China to the World Trade Organization. We do not have anything to do with China being in the World Trade Organization. It is a wrong misconception. Also, there is a belief if we do not approve PNTR, China will not be able to join the World Trade Organization. As a member of the World Trade Organization, we can say something about it through our representative there, but in the Senate our vote on PNTR will not affect China's ability to join the WTO. I want to tell my colleagues what will be consequence of not approving permanent normal trading relations with China. The only thing that will happen if we vote against permanent normal trading relations with China is that American farmers and all of our businesses will miss out on lower tariff rates and the other market-access concessions China will grant to farmers and businesses in other countries.”