Posts Tagged ‘camp’
Senate Finance poised to approve Russia trade bill
Senators were poised Wednesday to clear the first hurdle to extend permanent normal trade relations to Russia, but plenty of uncertainty remains.
The Senate Finance Committee is expected to easily approve a measure combining a repeal of Jackson-Vanik, an obsolete Cold War-era provision, along with a human-rights measure that would punish Russian officials involved in the death of lawyer Sergei Magnitsky, who died in prison.
“By enacting PNTR together with the Magnitsky bill, we are replacing Jackson-Vanik with legislation that addresses the corruption and accountability issues that Russia confronts today,” Senate Finance Chairman Max Baucus (D-Mont.) said.
The show of bipartisan support — Baucus and ranking member Orrin Hatch (R-Utah) hammered out the compromise — could boost the bill’s chances of getting through Congress before lawmakers leave for a month-long August recess.
Russia is on track to join the World Trade Organization next month. All that is left for its accession is for President Vladimir Putin to sign the package, which passed through Russia’s upper chamber on Wednesday. Once Putin signs, the clock begins ticking, and Russia will become a member of the WTO within 30 days.
Still, there are plenty of pieces in play with no resolution in sight.
Lawmakers are divided over whether to pass a clean measure repealing the 1974 Jackson-Vanik amendment, while also holding Russia accountable for what lawmakers say is a dismal human-rights record.
Read More →
Facebook
Twitter
Google Buzz
LinkedIn
del.icio.us
Google Bookmarks
Yahoo! Buzz
Tumblr
StumbleUpon
FriendFeed
NewsVine
Digg
Senate panel approves normal trade relations with Russia, adds human rights provision
A Russia trade bill that could double U.S. exports to Russia but complicate already frosty relations with the former Communist superpower advanced in the Senate on Wednesday.
Lawmakers rejected a provision that would have required the president to certify that Russia is no longer supplying arms to Syria.
The Senate Finance Committee combined the trade measure with a bill to punish Russian human rights violators.
The committee’s unanimous vote to lift Cold War trade restrictions and establish permanent normal trade relations with Russia came against a background of strong objections to Russia’s poor human rights record, its threats against U.S. missile defenses in Europe, its failure to protect intellectual property rights, its discrimination against U.S. agricultural products and most recently its support for the Assad government in Syria.
Enacting permanent trade status is necessary if U.S. businesses are to benefit from the lowering of trade barriers that will take place when Russia enters the World Trade Organization next month.
Finance Committee Chairman Max Baucus, D-Mont., said current U.S. exports to Russia, about $9 billion a year, could double in five years if trade relations are normalized.
“There is no time to waste. America risks being left behind,” Baucus said. “If we miss that deadline, American farmers, ranchers, workers and businesses will lose out to the other 154 members of the WTO that already have PNTR (permanent normal trade relations) with Russia.” U.S. imports from Russia last year were four times the export level.
Getting the trade bill through Congress has been a top priority for business and farm groups, which see it as a jobs creator and a boost to the economy. “Without PNTR, U.S. companies and workers will be at a distinct disadvantage in the Russian market as our competitors in Europe, Asia and elsewhere begin to lock in sales and long-term contracts,” said Caterpillar Inc. chairman and CEO Doug Oberhelman, who also chairs the Business Roundtable’s International Engagement Committee.
Read More →
- Facebook
- Twitter
- Google Buzz
- LinkedIn
- del.icio.us
- Google Bookmarks
- Yahoo! Buzz
- Tumblr
- StumbleUpon
- FriendFeed
- NewsVine
- Digg
Russia trade and human rights legislation advances, but time running short
The Senate Finance Committee unanimously approved today a bill to grant Russia Permanent Normal Trade Relations (PNTR) status as well as a bill to punish Russian human rights violators, but time is running out to pass the legislation through the full House and Senate.
Committee Chairman Max Baucus (R-MT) called on Congress to quickly pass the bills before lawmakers leave town at the end of this month for the long August recess. Russia’s accession to the WTO is imminent, and unless the United States grants Russia PNTR status, U.S. businesses won’t be able to take advantage, he argued.
“There is no time to waste; America risks being left behind,” Baucus said. “If we miss that deadline [of Russia’s WTO accession], American farmers, ranchers, workers and businesses will lose out to the other 154 members of the WTO that already have PNTR with Russia. American workers will lose the jobs created to China, Canada and Europe when Russia, the world’s seventh largest economy, joins the WTO and opens its market to the world.”
Baucus also trumpeted the fact that the PNTR bill is now officially joined with the Senate version of the Sergei Magnitsky Rule of Law Act of 2012, which passed the Senate Foreign Relations Committee unanimously in June. The bill imposes restrictions on the financial activities and travel of foreign officials found to have been connected to various human rights violations in any country. The House version of the bill, approved by the House Foreign Affairs Committee earlier this month, targets only Russian human rights violators.
Read More →
- Facebook
- Twitter
- Google Buzz
- LinkedIn
- del.icio.us
- Google Bookmarks
- Yahoo! Buzz
- Tumblr
- StumbleUpon
- FriendFeed
- NewsVine
- Digg
Time running out for Russia trade bill
The Russian parliament is expected to vote to join the World Trade Organization (WTP) on Tuesday, giving Congress a short window to either adopt trade legislation or risk seeing U.S. companies trail competitors in the world’s ninth-largest economy.
Establishing normal trade relations with Russia is a no-brainer for U.S. businesses eyeing a vast export market, but lawmakers in the House and Senate are still debating how to do that while retaining leverage over the country on human rights.
Once the Russian parliament ratifies accession to the world trade body, Russia will automatically become a WTO member within 30 days. If the vote happens Tuesday, it means Congress would have to act before the August recess to prevent U.S. companies from losing out.
“The [Obama] administration has consistently urged Congress to terminate application of the Jackson-Vanik amendment and authorize the president to extend permanent normal trade relations to Russia before it becomes a WTO Member,” a spokesperson for the Office of the U.S. Trade Representative told The Hill via e-mail.
Doing so would “ensure that American workers and businesses will be able to reap the full benefits of Russia’s WTO membership and to put them on a level playing field with their competitors in Latin America, Europe and Asia,” the spokesperson said.
Read More →
- Facebook
- Twitter
- Google Buzz
- LinkedIn
- del.icio.us
- Google Bookmarks
- Yahoo! Buzz
- Tumblr
- StumbleUpon
- FriendFeed
- NewsVine
- Digg
