TAXPAYER WATCHDOG GROUP URGES PASSAGE OF PERMANENT NORMAL TRADE RELATIONS WITH CHINA | Citizens Against Government Waste

TAXPAYER WATCHDOG GROUP URGES PASSAGE OF PERMANENT NORMAL TRADE RELATIONS WITH CHINA

Press Release

For Immediate ReleaseContact: Jim Campi or Aaron Taylor
May 16, 2000(202) 467-5300

 

(WASHINGTON, D.C.) -- The Council for Citizens Against Government Waste (CCAGW), America's largest taxpayer watchdog group, today wrote to U.S. senators and members of the House of Representatives, urging Congress to pass Permanent Normal Trade Relations (PNTR) for China.

It is estimated that opening the Chinese market to American goods will generate up to $13.9 billion in increased exports in the first five years.  "The passage of PNTR will level the playing field and provide enormous opportunities for American farmers, workers, and businesses. These exports help fuel the economic engine that has led to the longest period of sustained economic expansion in American history and the first budget surplus in 30 years," wrote CCAGW President Thomas Schatz.

Schatz noted that the gains in agricultural trade would be especially beneficial to taxpayers.  Nearly every year, Congress passes an "emergency" bailout appropriation for struggling farmers.  Last year it was almost $11 billion. The Department of Agriculture estimates that American farmers will reap $2.2 billion more every year by increasing exports to China. "This windfall will help ease the farm crisis in the heartland.  Expanded trade with China will also mean continued availability of lower cost products, which saves American consumers billions of dollars annually," Schatz continued. 

Finally, expanded trade for China means that consumers will continue to benefit from lower prices on a wide variety of products already imported from China.  "To keep the economy growing and the federal budget free of red ink, additional markets must be opened for our goods.  However, if Congress fails to pass PNTR, American companies will lose export opportunities, slowing our economic growth," Schatz concluded.

CCAGW is the lobbying arm of Citizens Against Government Waste, a nonpartisan, nonprofit organization dedicated to eliminating waste, fraud, mismanagement and abuse in government.

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