Bill Would Rescind China's Most Favored Nation Status

Law360, New York (August 4, 2010, 4:32 PM EDT) -- A new bill introduced in the U.S. House of Representatives on Wednesday would revoke China's most favored nation status and force the president to renegotiate the country's trade relationship with China to eliminate the trade imbalance.

The Emergency China Trade Act of 2010, proposed by Rep. Brad Sherman, D-Calif., would rescind China's MFN trade status for six months and instruct the administration to come up with a new trade relationship that would get rid of the U.S.-China trade imbalance within four years. Any trading relationship meeting...
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