U.S. asked to end MFN haggling<\/p>\n
BEIJING (AFP): Chinese Premier Li Peng has called on the
\nUnited States to resolve China's Most Favored Nation (MFN) status
\n"once and for all, " the state media reported yesterday.<\/p>\n
The U.S. Congress annual review of whether to extend China's
\nMFN is "short-sighted because the practice keeps U.S. businesses
\nfrom planning for the future," Li told Ronald Woodward, president
\nof the U.S.-based Boeing Commercial Aircraft Group.<\/p>\n
The China Daily said the meeting took place Thursday.<\/p>\n
The premier praised the U.S. business community but accused
\n"some people" in the country of putting MFN an unfair light for
\npolitical purposes.<\/p>\n
Foreign Ministry spokesman Shen Guofang Thursday rejected
\nstatements by the acting U.S. trade representative that it would
\nbe "premature" to grant China permanent MFN status.<\/p>\n
MFN "is an arrangement for normal trade relations ... it is
\nnot a favor but a commercial necessity," he said.<\/p>\n
On Wednesday, U.S. Trade Representative designate Charlene
\nBarshefsky said permanent MFN for China could "de-incentives" the
\ncountry from working to improve market access, a necessary step
\nfor entry into the World Trade Organization (WTO).<\/p>\n
Currently, the U.S. Congress votes each year whether to renew
\nChina's favored trade status.<\/p>\n
Although the vote passes each year, the possibility of refusal
\nhas provided Washington with tremendous leverage in negotiations
\nwith Beijing on a variety of topics.<\/p>\n
Loss of MFN, which is enjoyed by almost all of the United
\nStates' trading partners, would mean higher tariffs across the
\nboard for Chinese exports to the United States.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/us-asked-to-end-mfn-haggling-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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