Citizens for a Sound Economy applauds the House of Representatives for passing H.R. 4444, PNTR for China. Congress has taken a big step towards insuring the future of America’s economy and safeguarding the rights of the Chinese to access American goods, services, and ideals.
Under PNTR China will eliminate high-tech tariffs in five years and remove investment restrictions on U.S. business. The U.S. will gain access to China’s vast Internet and telecommunications market, which has over one billion potential consumers. Contrary to the claims of big labor, China will not gain any further access to U.S. markets that they have not already enjoyed for 20 years. So, by supporting PNTR Congress has helped U.S. industries gain a new market without giving anything in return, making it a win-win situation for all Americans.
When we look at the facts, it is clear that Americans will enjoy long term benefits from a more open and engaged China. CSE praises Congress for having the courage to act and pass H.R. 4444.