Jeremiah Smith: “I rise to introduce two resolutions concerning our trade relationships with the People's Republic of China and the…”

“I rise to introduce two resolutions concerning our trade relationships with the People's Republic of China and the Socialist Republic of Vietnam. Last Thursday, June 3, 1999, the President of the United States formally recommended waivers of the application of the Trade Act of 1974 provisions with respect to China and Vietnam, thereby allowing U.S. taxdollars to subsidize business operations in these countries. In the case of China, the waiver also allows for continuation of most-favored-nation trade privileges, now known as normal trade relations. Mr. President, there's very little that is normal about our relationship with these communist countries. In short, I think the President's policy is seriously flawed and deeply troubling, especially in view of recent events. Mr. President, on November 26, 1974, in its report on the Trade Act, the Senate Committee on Finance stated: "The Committee recognizes that segments of the private sector wish the U.S. Government to provide credits and investment guarantees, and other conditions before private capital investments are ventured. The Committee believes that it is equally reasonable to establish conditions on all basic human rights, including the right to emigrate, before extending broad concessions to communist countries." The resolutions I have introduced keep faith with the original Congressional intent of the Trade Act of 1974.”