Fact Sheet: Permanent normal trade relations for China: An historic moment for U.S.-China relations (10/10/00)
|                                                                         |
|               Permanent Normal Trade Relations for China:               |
|               An Historic Moment for U.S.-China Relations               |
|                            October 10, 2000                             |
|                                                                         |

President  Clinton?s  Signing  of Legislation Establishing Permanent Normal
Trade Relations For China Marks An Historic Moment In U.S.-China Relations.
Establishment  of  PNTR  with  China  will  open markets for U.S. goods and
services  and  strengthen  U.S.-China relations, continuing to pave the way
toward economic freedom for the Chinese people.

China?s  Accession  Will  Help  Promote  Reform In China And Create A Safer
World.  China?s accession to the WTO will encourage Chinese leaders to move
in the direction of meeting the demands of the Chinese people for openness,
accountability,  and  reform.   The agreement negotiated last December with
?    Deepens market reforms.  Obligates China to deepen its market reforms,
empowering leaders who want their country to move further and faster toward
economic freedom.  This agreement will expose China to global competition
and thereby bring China under even more pressure to privatize its
state-owned industries and expand the role of the market in the Chinese
economy.  Chinese as well as foreign businessmen will gain the right to
import and export on their own, and to sell their products without going
through government middlemen.
?    Accelerates removal of government from lives of China?s people.
Accelerates a process that is removing the government from vast areas of
China?s economic life.  China?s people will have greater scope to live
their lives as they see fit.  In opening China?s telecommunications market,
including to Internet and satellite services, the agreement will over time
expose the Chinese people to information, ideas and debate from around the
world.  As China?s people become more mobile, prosperous, and aware of
alternative ways of life, they will seek greater say in the decisions that
affect their lives.
?    Strengthens rule of law in China.  Obliges the Chinese government to
publish laws and regulations and subjects pertinent decisions to review of
an international body.  That will begin to strengthen the rule of law in
China and increase the likelihood that it will play by global rules as
well.  It will advance our larger interest in bringing China into
international agreements and institutions that can make it a more
constructive player in the world, with a stake in preserving peace and

China?s Entry To The WTO Will Slash Barriers To The Sale Of American Goods
And Services In The World?s Most Populous Country.  China?s entry into the
WTO will dramatically cut import barriers currently imposed on American
products and services.  This agreement locks in and expands our access to a
market of over one billion people.  China?s economy is already among the
world?s largest and over the past 20 years has expanded at a phenomenal
annual rate of nearly 10 percent.  During this period, U.S. exports to
China have grown from negligible levels to over $14 billion each year.  For
agriculture alone, USDA estimates that China's WTO accession would result
in $2 billion annually in additional U.S. agricultural exports by 2005.

China  Made  Unilateral  Concessions;  We  Will  Simply Maintain The Market
Access Policies We Already Apply To China.  China made significant, one-way
market-opening   concessions   across   virtually  every  economic  sector,
including  increasing  access  to  its  markets  for agriculture, services,
technology,  telecommunications, and manufactured goods.  China also agreed
to  eliminate  ?unseen?  barriers,  such  as exclusive rights to import and
distribute goods.
?    Agriculture tariffs will be cut by more than half on priority
?    Industrial tariffs will be slashed.
?    Right to import and distribute in China will be established.
?    New markets for U.S. information technology will be developed.
?    Broad new access for American services like telecom/insurance/banking.

                                   # # #

President and First Lady | Vice President and Mrs. Gore
Record of Progress | The Briefing Room
Gateway to Government | Contacting the White House | White House for Kids
White House History | White House Tours | Help
Privacy Statement


Site Map

Graphic Version

T H E   W H I T E   H O U S E