Thursday, July 12, 2012

House to vote on Russia trade bill


Congress is under pressure to lift a Cold War human rights provision known as the Jackson-Vanik amendment and approve "permanent normal trade relations," or PNTR, because of Russia's expected entry into the World Trade Organization in August.

If it does not act, Russia could deny U.S. firms some of the market-opening concessions it made to join the WTO, putting those companies at a disadvantage to foreign competitors in one of the world's 10-largest economies.

However, the push to pass the legislation comes at a low point in U.S.-Russia relations, with many U.S. lawmakers angry over Moscow's support for the government of Syrian President Bashar al-Assad and questioning Russia's commitment to democracy and human rights.

 The Congress is unlikely to approve a controversial bill to upgrade trade relations with Russia before the November elections, despite a push by the White House and U.S. business groups for votes this month.




















sources:
Reuters

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