George W. Bush on Friday presented to Congress a letter formally requesting an extension to the Normal Trade Relations(NTR) status to China for another year.
In a letter to House and Senate leaders, Bush said that trade with China has benefited both American businesses, which boosted exports to China by 24 percent last year, and American farmers,who exported to China more than US $ 3 billion worth of farm produts in the same period.
"Trade is in the interest of American consumers, especially those who live from paycheck to paycheck and depend on inexpensive goods,from China to enhance their quality of life, "Bush said.
He said that the normal trade status requested for China is what "virtually every other country in the world" now enjoys.
"Fair trade is essential not only to improve living standards for Americans, but also for a strong and productive relationship with China," he said.
Bush said that the United States has a huge stake in the emergence of" an economically open, politically stable and secure China", and "not only do we need to speak frankly and directly about our differences, but we also need to maintain dialogue and co - operation with one another in those areas where we have common interests. "
Last year, Congress passed Legislation granting China permanent Normal Trade Relations (PNTR) as soon as the country enters the World Trade Organization, abandoning what China had seen as the unfair practice of annual review by the US Legislature over its trade status.
The PNTR Legislation, however, has not yet come into effect since China is still negociating its access to the globel trading block. Therefore, the annual review will continue on the Capital Hill this year.