Larry Combest: “the vote on permanent normal trade relations with China may be one of the most important votes that we will cast in…”

“the vote on permanent normal trade relations with China may be one of the most important votes that we will cast in years. China represents an agricultural market that is vital to the long-term success of American farmers and ranchers. Agriculture trade with China can strengthen development of private enterprise in this country and bring China more fully into the world trade membership. We intend to work for that goal and urge all of U.S. agriculture to join with us. China's participation in the WTO will result in at least $2 billion per year in additional U.S. exports within the next 5 years. That is just U.S. agricultural exports. By 2005, the largest increases in the annual value of China's net agricultural imports are likely to be $587 million for corn, $543 million for wheat, and $359 million for cotton. According to the Economic Research Service, net farm income would be higher by $1.7 billion in 2005 and higher by an average of $1.1 billion over the years 2000 to 2009 for each year. Listen to what agricultural groups are saying about China PNTR.”