Bill to Revoke China's MFN Status Introduced in House
On July 30, 2010, Representative Sherman (D) introduced H.R. 6071, “The Emergency China Trade Act of 2010”, a bill that would revoke Most Favored Nation (MFN) status for China and direct the President to negotiate a new trading relationship with the country that would be designed to eliminate the trade imbalance within four years. The bill would also provide for the expedited consideration of any new trade partnership with China that would bring the trade deficit down to zero within that time period.
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Sherman, the Chairman of the Foreign Affairs Subcommittee on Terrorism, Nonproliferation, and Trade, was joined by Ros-Lehtinen (R), Ranking Member of the full Foreign Affairs Committee, and five others in introducing the bill. An August 4, 2010 press release and the text of H.R. 6071 as introduced, are available by sending a request to documents@brokerpower.com