The House of Representatives’ Select Committee on the Chinese Communist Party (CCP) is preparing to recommend the United States revoke China’s permanent normal trade relations (PNTR) status, which keeps the tariff rate on most Chinese imports to the United States predictable and low.
This is per Politico, first reported on Monday. By Tuesday morning, the outlet had even more quotes from international business lobbies and a Trump White House economic adviser arguing that doing so – revoking PNTR – would crater the economy and beggar the average American household via huge price spikes in consumer goods. That would happen, the argument goes, because the U.S. and Chinese economies are so inextricably linked that dissolving the connection even partially would inflict incredible economic suffering.
