Trump Claims "Biden Personally Led Efforts to Give China Permanent Most-Favored-Nation Status

SERIOUSLY! ARE YOU KIDDIN’ ME!! #3 Isn’t This Person Supposed to Know Better? 7.23.20 WHAT WAS SAID “Biden personally led the effort to give China permanent most-favored-nation status, which is a tremendous advantage for a country to have. Few countries have it. But the United States doesn’t have it, never did, probably never even asked for it because they didn’t know what they were doing.” — (Pres. Trump) in a news conference at the White House False. “Most favored nation” refers to a principle of fair trade that members of the World Trade Organization confer on each other. The United States has enjoyed “most favored nation” status from all members of the General Agreement on Tariffs and Trade since 1947, and all 164 countries in the W.T.O., except Cuba. The United States has declined to grant this status, also known as normal trade relations, to just two countries: Cuba and North Korea. Cuba reciprocates American sanctions, while North Korea is not a W.T.O. member. Furthermore, Joseph R. Biden Jr., the former vice president and Mr. Trump’s presumptive 2020 Democratic opponent, was “never the leader” in making the most-favored-nation status permanent for China, said Gary Hufbauer of the Peterson Institute for International Economics. Rather, it was an initiative of former President Bill Clinton and established by former President George W. Bush. “Permanent M.F.N. status was not a ‘tremendous advantage’ for China,” Mr. Hufbauer said. “For decades, under both Republican and Democratic presidents, the U.S. regularly granted M.F.N. status to China. Permanent M.F.N. did not lower any U.S. tariffs on imports from China. It just eliminated the need for an extension every two years.” ----- The ‘Great Deal Maker’ appears to have no concept of how trade status is determined, how long that status has been in place, or the benefits available there from. https://www.nytimes.com/2020/07/14/us/politics/trump-fact-check-biden-police-coronavirus-china.html?action=click&module=RelatedLinks&pgtype=Article

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