Radio Free Asia (RFA) Chinese Edition recently reported that John Moolenaar, chairman of the U.S. Congress’s special committee on China, just proposed the Restoring Trade Fairness Act, recommending that the United States revoke the Permanent Normal Trade Relations (PNTR) for all imported goods from China. Earlier this year, Senators Marco Rubio, Tom Cotton and Josh Hawley also introduced a similar bill in the Senate.
The same proposal includes the ending of China’s “De Minimis” treatment for low-value goods from covered countries and requires small-value parcels from China to clear U.S. customs.
In addition, the bill proposes the use of tariff revenue to compensate American farmers and manufacturers who may be harmed by Chinese retaliation.
A few days prior to Moolenaar’s introduction of the new act, the spokesperson of the Chinese Ministry of Foreign Affairs commented that, according to an agreement reached between China and the United States on China’s accession to the WTO, the United States announced in 2001 that it would grant China PNTR status. He said, “Some U.S. politicians are trying to reverse history and bring China-U.S. economic and trade relations back to the Cold War period.”
Sources:
(1) RFA Chinese, November 14, 2024
https://www.rfa.org/cantonese/news/us-china-trade-war-tariff-rubio-11142024150146.html?encoding=simplified
(2) East Money, November 11, 2024
https://finance.eastmoney.com/a/202411113235931318.html
(3) The Select Committee on the CCP (house.gov), Nov 14, 2024
https://selectcommitteeontheccp.house.gov/media/bills/restoring-trade-fairness-act