US President George W. Bush announced today he will ask Congress to renew permanent normal trade relations status for China.
"Because trade creates prosperity and prosperity promotes democracy, I will notify Congress on June 1st that I intend to extend normal trade relation status with China for another year," Mr Bush said.
The US Congress approved the measure lowering US trade tariffs levied on Chinese goods last year as part of a deal to pave the way for Beijing to join the World Trade Organization.
But since China is not likely to finalize its membership in the group by June, Congress will have to vote on China's trade benefits again.
AFP
