[00:08.59]This week,two important committees in Congress approved legislation
[00:14.84]to give permanent normal trade rights to China.
[00:19.70]The bill faces a close vote in the House of Representatives next week
[00:26.12]but it is expected to pass easily in the Senate.
[00:31.48]Each year since 1980,Congress has renewed China's trade rights.
[00:39.13]The term "most-favored nation"is no longer used.
[00:45.56]It appeared to describe a special relationship,
[00:49.79]but only meant normal trade relations.
[00:54.02]Almost all countries have these rights with the United States.
[01:00.26]If China did not,the United States would increase taxes
[01:06.59]and restrictions on imported Chinese goods.
[01:11.31]The bill would end the requirement that Congress vote each year
[01:17.74]on trade relations with China.It would make normal trade relations permanent.
[01:24.95]In exchange,China would open its markets to American companies.
[01:31.72]The proposed legislation this year is part of a trade agreement
[01:38.04]reached between China and the United States.
[01:42.56]The agreement helps China in its effort to join the World Trade Organization
[01:49.90]That group sets the rules of international business.
[01:55.54]The Clinton administration and business groups
[02:00.97]support the trade bill in congress.
[02:04.71]They say it will earn American companies major new trading rights in china
[02:12.26]They say China's entry into the WTO will increase American exports
[02:20.70]by as much as 3,000,000 dollars within five years.
[02:27.33]And they say all that trade will help the Chinese people
[02:33.57]to become more open to influences outside their country.
[02:39.22]The United States imported almost 70,000,000,000 dollars more from China
[02:47.65]last year than it exported to that country.
[02:52.28]Only the trade deficit with Japan is larger.
[02:57.63]Opponents of the bill say the yearly vote in Congress is an important tool
[03:06.25]for influencing policy in China.
[03:10.09]And they question if China would honor its responsibilities
[03:16.02]as a member of the WTO.
[03:19.37]Among those opposing the bill are lavor unions.
[03:25.40]They say American workers will lose their jobs.
[03:30.94]The unions worry that American companies will open more factories in China
[03:38.49]Small-business owners worry,too,about competing against lower-cost imports
[03:46.72]Human rights groups and environmental activists also oppose permanent
[03:53.77]trade rights for China.
[03:56.93]To gain support for the bill,the House Ways and Means Committee last week
[04:04.27]added new measures to protect American industries.
[04:10.02]These would permit the president to assist industries hurt
[04:15.76]by a possible sudden increase of imports from China.
[04:21.02]A separate bill would create an independent committee
[04:26.37]to examine human rights in China.
[04:30.81]In Beijing Friday,China moved another step closer
[04:36.24]to membership in the World Trade Organization,
[04:40.37]by signing a trade agreement with the European Union |