Business Groups Urge Swift Movement on Russian PNTR Following Election

Business groups voiced disappointment at the lack of action on granting Russia Permanent Normal Trade Relations (PNTR) and pushed lawmakers to take up legislation. “American businesses are now at a disadvantage vis-à-vis our competitors worldwide because Congress and the White House haven’t yet put in place PNTR with the world’s 9th largest economy, Russia,” said Business Roundtable President John Engler. “Russia PNTR is one of the only opportunities still this year to increase U.S. exports, support American jobs and grow the economy, and Congress and the White House should take immediate action to approve PNTR when members return later this fall." There is "strong bipartisan support for PNTR, as was evidenced by unanimous and near-unanimous votes in the Senate Finance Committee and House Ways and Means Committee,” he said. The statement is (here).

The U.S. Chamber of Commerce also urged movement on the bills. “PNTR exclusively benefits Americans selling their goods and services in the Russian market. The United States gives up nothing — not a single tariff — in approving it," said Chamber President Thomas Donohue. “Until Congress approves PNTR with Russia, U.S. companies may be denied the improved market access and certainty firms from other countries are receiving. While we wait to act, American farmers and businesses of all sizes are being left behind and missing opportunities for growth in Russia’s market. This is a critically important jobs bill, and we urge congressional leaders to make passage of PNTR a top priority after the election to ensure it is approved by the end of the year.” Donohue's statement is (here).