After his trip to Russia, Senate Finance Committee Chairman Max Baucus said that Congress needs to grant Russia permanent normal trade relations status before the November elections. He said the failure to do so would harm the United States as it would prevent a full flow of U.S. goods to Russia.
During the House Ways and Means Committee hearing today, North Dakota Representative Rick Berg questioned U.S. Trade Representative Ron Kirk about the impacts of lifting trade restrictions on trade with Russia. Kirk said that it would be very beneficial for the U.S.
Russia is expected to join the World Trade Organization in mid twenty-twelve, after which is will lower tariffs on a wide range of products from nations that agree to grant it permanent normal trade relations status.
When asked about agreements concerning countries who establish trade regulations not based on scientific standards, Kirk has this to say.
Kirk’s testimony is expected to set the foundation for the administration’s trade activities during 2012.