“During the past year, Congress has worked hard to ensure that the provisions of the agreement granting Permanent Normal Trade Relations (PNTR) to China are grounded in free and fair trade practices. Such a foundation provides me with the confidence to support PNTR as a pact that will benefit all those concerned. 

“China’s acceptance as a member of the World Trade Organization will dramatically further lowering trade barriers to American exports and reduce product costs for American consumers. 
Moreover, the expansion of American investment and corporate ownership in China will force the
modernization of their economy, improve working conditions for millions, and open up access to information which will foster a greater level of political freedom.

“The current proposal will reduce Chinese Agricultural tariffs by half and eliminate the tariff on high-technology goods.  U.S. exports to China will have their average tariff of 24% cut by more than half to 9%. Granting PNTR will also open Chinese markets for telecommunications, insurance, banking, securities, audio visual, and professional services, allowing 50% ownership of businesses within many of these sectors.

“Some opponents have claimed that granting PNTR status to China will force jobs overseas. 
Although a similar argument was made in opposition to NAFTA, Department of Commerce statistics show clearly that while New Hampshire lost 225 NAFTA-related jobs, the state gained over 4,000 jobs as a result of export growth.  New Hampshire’s trade with Mexico has increased by 117% to over $86 million, and trade with Canada has increased by 70% to over $640 million.  I have every reason to believe that the granting of PNTR to China will have a similar positive effect on New Hampshire’s economy.”