A decade ago, the United States granted China permanent Most Favored Nation (MFN) status. That was a mistake. Recently, I reintroduced legislation this session of Congress to eliminate Most Favored Nation status for China within six months. I first introduced similar legislation in 2010. Far too often, we see American jobs shipped overseas instead of U.S.- made products. Our trade relationship with China in particular is horrendously lopsided. We export only 24 cents worth of goods to China for every dollar of goods we import. Our trade deficit with China ballooned $189 billion in a decade -- from $84 billion in 2000 to $273 billion in 2010. It is time for a change. My bill will revoke Most Favored Nation status for China six months after it is enacted and will direct the President to negotiate a new trading relationship with China designed to eliminate
the trade imbalance within four years. Only under the pressure of losing access to the US market within six months will China agree to a fair and balanced trade relationship. That is why my bill provides that unless such a new trade relationship is negotiated and approved by Congress within six months, China loses its Most Favored Nation status. I hope that you find this information useful and I hope to seek your advice on further steps I can take to help steer our country toward a more sensible trade policy that promotes job growth in America.