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What is the debate on weather or not China should retain favored-nation trading status all about Is it really a decision on what is best economically for the United States and China Or is it the issue of Chinese human rights violations and the fact that if the United States where to revoke the favored nation status of China it would have a profound negative impact on the US economy alone Most-favored-nation trade status started in the United States as a version of the European preferential trade system The Carter Administration first granted most-favored-nation trading status to China in 1980 following the historic efforts of President Nixon during the 1970s to restore diplomatic ties Historically a significant difference existed between the unconditional most-favored-nation clause in European trade law and the American version of conditional most-favored-nation Under unconditional most-favored-nation status one countrys extension of tariff concessions guarantees the same concessions to all nations associated with it through commercial treaties American conditional most-favored-nation status provided treaty signatories only the opportunity to negotiate most-favored-nation status when most-favored-nation status was extended to another trading partner Thus meaning that the United States gives significant economic advantages to one nation in the form of most-favored-nation trading status Under the Trade Act of 1974 most-favored-nation status could only be granted to China through a Sino-American bilateral commercial agreement and satisfaction of the Jackson-Vanik Amendment requirements The Jackson-Vanik amendment states that the President of the United States may grant a communist country such as China most-favored-nation trade status if it was in conjunction with a trade agreement and upon proper improvement that China would permit emigration Also China would have to satisfy that they are moving toward improving current policies The conclusion of the US-PRC commercial accord in July 1979 and the initial waiving of the Jackson-Vanik requirements and with Congressional approval most-favored-nation status was granted to China This action sealed the successful efforts of
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