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Clinton’s China Trade Gamble: How PNTR Empowered a Global Competitor
Clinton’s Strategic Bet on China In the 1990s, President Bill Clinton renewed China’s most-favored-nation (MFN) trade status year after year—despite Beijing’s well-documented human rights abuses. Initially, Clinton tied trade benefits to human rights “benchmarks.” But by 1994, his administration quietly abandoned those conditions. Human Rights Watch blasted the shift as the end of effective…
Russia sanctions vote delayed after White House intervention.
The House delayed a vote on legislation to sanction Russia after the White House intervened to block a key provision of the bill — roiling lawmakers from both parties, Axios has learned.
Why it matters: Congress has consistently struggled to come together in its efforts to place economic pressure on Russia to try to force an end to its invasion of Ukraine.
Stay on top of the latest market trends and economic insights with Axios Markets.
Senators in both parties failed to strike a deal on a sanctions bill in February aimed at deterring the invasion, instead opting for a joint statement.
Driving the news: House Speaker Nancy Pelosi said in a letter Tuesday morning that the House would vote on sanctions later that day but ultimately scheduled the vote for Wednesday.
Leadership aides in both parties confirmed to Axios that GOP leadership wouldn't commit to passing it through suspension, an expedited process requiring bills to get a two-thirds vote.
The vote on Wednesday will only require a simple majority.
Between the lines: A bipartisan deal on sanctions between key committee chairs was announced on Monday, but the White House pressed top Democrats to defang that legislation, a source familiar with the matter told Axios.
Specifically, the administration wanted a provision stripped out that would revoke permanent normal trade relations (PNTR) with Russia and Belarus to give the U.S. broader breadth to place tariffs on imports from the two countries.
Pelosi laid out a new bill on Tuesday that replaces that measure with a provision extending the definition of human rights violations under the Magnitsky Act to include Russia's actions in Ukraine, opening the door for more sanctions.
At the same time, the White House undercut a key component of the legislation banning Russian oil imports by taking that action itself on Tuesday.
What they're saying: Rep. Kevin Brady (R-Texas), the top Republican on the House Ways and Means Committee, which struck the bipartisan deal, told Axios the GOP feels the bill has lost much of its strength.
He specified that he was personally "very disappointed" PNTR was dropped— though he said he's still reviewing the bill.
"The [White House] didn't interact with Republicans, at least in the House, on this," Brady added.
Rep. Michael McCaul (R-Texas), the top Republican on the House Foreign Affairs Committee, also pointed to longstanding GOP concerns that the Magnitsky Act's definitions of human rights violations are "overly broad."
Even some Democrats weren't happy with the changes made between the bipartisan deal and the leadership bill.
"We want to go further," said Rep. Earl Blumenauer (D-Ore.)
Ways and Means Chair Richard Neal (D-Mass.) told Axios he‘s "committed to the issue of PNTR."
The bottom line: Republicans are probably still going to vote for the sanctions in large numbers, but the White House has aggravated members in both parties.
"I think you're going to see the bill pass [with a broad bipartisan majority]," McCaul said.
"Without question, this bill would have passed by now if it had remained a bipartisan agreement that had been struck by both chambers," a GOP congressional aide told Axios.
I’m proud to have stood against the Permanent Normal Trade Relations with China agreement, which has cost millions of U.S. jobs. I do not think we will defeat Donald Trump with a candidate like Joe Biden who voted for PNTR with China and other disastrous trade agreements. - Bernie Sanders Facebook Page #Trade #PNTR #China #Jobs #JobLoss #JoeBiden #StatusQuoJoe #NoStatusQuoJoe #JoeBidenIsARepublican #JoeBidenRecord #JoeBidensRecord #JoeBidenIsUnelectable #BerniesRecord #BernieSandersRecord #BernieSandersVotingRecord #Receipts #BerniesReceipts #NotMeUs #BernieSanders #Bernie2020 #BernieSanders2020 #BernieSandersForPresident https://www.instagram.com/p/B9gOXq1Furo/?igshid=yhs4l98l21yt
Joe Biden is going to have to explain to the people why he supported disastrous trade agreements like NAFTA and PNTR, which have cost this country millions of good-paying jobs and resulted in a race to the bottom. I am proud to have opposed and voted against these agreements and stood on the side of workers. - Bernie Sanders Facebook Page #Jobs #Trade #NAFTA #PNTR #JoeBiden #StatusQuoJoe #NoStatusQuoJoe #JoeBidenRecord #JoeBidensRecord #JoeBidenIsUnelectable #BerniesRecord #BernieSandersRecord #BernieSandersVotingRecord #Receipts #BerniesReceipts #NotMeUs #BernieSanders #Bernie2020 #BernieSanders2020 #BernieSandersForPresident https://www.instagram.com/p/B9fqn9dl-VM/?igshid=16gzw2ydok0do
$PNTR 2018-09-03 : Transcripts- PNTR Edited Transcript of PNTR earnings conference call Get Transcripts on your mobile as soon as they are released. Download the Android App below…
[BASTI]
If we want to protect good American jobs and living wages, we must stop Disastrous Trade Deals
“You’re not another special interest to me. I’m not going to leave here to go out to meet with the bankers or corporate America. You are my family. This is what I do.” -Bernie Sanders
45 Times Hillary Clinton Publicly Supported TPP, Which She Now 'Opposes' http://www.cnn.com/2015/06/15/politics/45-times-secretary-clinton-pushed-the-trade-bill-she-now-opposes/index.html
Chamber of Commerce Lobbyist Tom Donohue: Clinton Will Support TPP After Election http://www.huffingtonpost.com/robert-naiman/chamber-of-commerce-lobby_b_9104096.html
Stand with Bernie Against The Dangerous TPP Sellout http://go.berniesanders.com/page/s/stop-tpp
#NAFTA #CAFTA #PNTR #TPP #FeelTheBern