Senator Josh Hawley is introducing legislation to permanently revoke China's 'most favored nation' trading status as a means of protecting American workers.
with the U.S. which has been in place for over two decades, would get revoked under a bill that Senator Josh Hawley will introduce this week.
Sen. Josh Hawley is planning to introduce legislation permanently revoking China's most favored nation trade status.rules require that member nations grant unconditional MFN status to all WTO members, although exceptions are permitted for regional free trade areas and customs unions, if preferential treatment is extended to developing countries, or if national security exceptions are claimed.
According to data released by the Bureau of Economic Analysis earlier this month, the U.S. trade deficit with China stood at $63 billion for the fourth quarter of 2022, a decrease of about $30.2 billion. The BEA data indicated that U.S. exports to China grew by $1.7 billion to a total of $51.1 billion, while imports from China decreased by $28.5 billion to $114.1 billion in the fourth quarter.
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