SENATE PASSES LEGISLATION GRANTING RUSSIA MOST FAVORED NATION STATUS

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(Posted Thu. Dec 6th, 2012)

Dec 6: Today, the U.S. Senate passed legislation paving the way for Permanent Normal Trade Relations with Russia.  The National Corn Growers Association previously urged Congress to lift the decades old Jackson-Vanik restrictions.  Farmers will soon be allowed to take advantage of a more open and level playing field with Russia.  The House of Representatives passed the legislation before adjourning for Thanksgiving.

 

“We are pleased to see both chambers of Congress act quickly to pass legislation that will lift these outdated restrictions,” NCGA President Pam Johnson said.  “Russia has tremendous potential to be an important market for our farmers and livestock producers. We urge President Obama to sign the bill soon so other World Trade Organization members can’t take advantage of a more level trade playing field before American agriculture.”

 

Russia joined the WTO in August.  However, the United States Congress needed to take steps to lift the Jackson-Vanik amendment and grant permanent normal trade relations in order for America’s farmers to benefit from Russia’s guaranteed tariff treatment and obligation to apply science-based sanitary and phytosanitary standards.