A bipartisan congressional committee has recommended the revocation of China's permanent normal trade relations (PNTR) status, a policy that has been in place for decades and has significantly contributed to China's economic growth. The panel argues that China has exploited this trade status to the detriment of the U.S. economy and national security. They also propose the creation of a 'Manhattan Project-type' fund to boost American artificial intelligence (AI) capabilities in response to China's advancements. The recommendation reflects growing bipartisan concerns over China's global influence and economic practices. If enacted, this could mark a significant shift in U.S.-China trade relations.
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Bipartisan panel urges Congress to toss out decades of trade policy they say China has been exploiting
A federal China commission recommended lawmakers end China’s favored trade status and the provision that allows goods under $800 to enter the U.S. duty-free.
