House Passes Bill Expanding Trade with Russia
By J. Craig Shearman
Washington Retail Insight
November 16, 2012
The House today passed legislation supported by NRF that would expand trade with Russia.
H.R. 6156, the Russia and Moldova Jackson-Vanik Repeal Act of 2012, sponsored by Ways and Means Committee Chairman Dave Camp, R-Mich., was approved 365-43. Companion legislation is pending in the Senate.
The measure would give permanent normal trade relations status to Russia, which is necessary for U.S. companies to fully benefit from concessions Russia made in order to join the World Trade Organization last year.
“This bill would allow us to gain important rights and powerful new enforcement tools with respect to one of the world’s largest economies,” Camp said. “We could double or even triple U.S. exports to Russia within five years.”
NRF on Tuesday sent a letter to House Speaker John Boehner, R-Ohio, supporting the legislation.
“This action is simply in our nation’s economic interest,” NRF Senior Vice President for Government Relations David French said. “Since both countries have received conditional non-discriminatory tariff treatment for many years, making this status permanent does not represent any special favor.”
In addition to Russia, the PNTR status would apply to Moldova, which joined the WTO in 2001.
© 2012 National Retail Federation
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