A U.S. business group said it is hopeful that Congress will approve a bill to upgrade U.S. trade relations with Russia after it returns from a monthlong break, and it warned that U.S. companies would lose business if lawmakers don’t act.
Dan Flaherty, vice president at the National Foreign Trade Council, said late Tuesday that the group was gearing up its lobbying efforts for a vote in the House of Representatives as early as Sept. 12, which it hopes will be followed by quick Senate action. If not, U.S. exporters will be left at a significant disadvantage to competitors in Europe, Asia and elsewhere around the world after Russia formally entered the World Trade Organization on Wednesday, Flaherty said.
Congress is under pressure to approve “permanent normal trade relations” with Russia by repealing a Cold War provision known as the Jackson-Vanik amendment, which ties normal U.S. tariff rates for Russia to emigration issues.
Business groups, which have been working for months to win approval of normal trade relations, are concerned the issue could be delayed until after the November presidential and congressional elections, or even into 2013, if lawmakers don’t act quickly in September.
WTO Director General Pascal Lamy said he was optimistic Congress would approve the bill in the coming weeks because “if the U.S. was not to do this, this probably would be a disadvantage for U.S. business.”
Related articles:
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.