Revoking China's MFN status could intensify a trade war that would harm both the U.S. and Chinese economies

  • Voting position claim
  • Claim

Name

Revoking China's MFN status could intensify a trade war that would harm both the U.S. and Chinese economies

Types

Voting position claim
Claim

Opposed voting positions

Revoke China's Most Favored Nation trade status (MFN)

Quotes that support the claim

"This research estimates that revoking PNTR would decrease U.S. gross domestic product (GDP) by $15.9 billion, decrease total exports by more than 17 percent, and increase consumer prices by 5.9 percent; in the event China retaliates in a reciprocal manner, U.S. GDP would fall by $24.8 billion, total exports would decrease by 44.3 percent, and consumer prices would rise by 5.2 percent."
"An applied general equilibrium model is used to simulate the increase in tariffs from the column 1 (MFN) to the column 2 (non-MFN) duty level. Using 1992 data, the results show Chinese exports to the U.S. drop by approximately $11 billion, or over 50 percent. The U.S. and China both experience a decline in real income."

Supporting arguments

Revoking China's MFN status can threaten U.S. business

Voting issues

China Relations

Referenced by

Revoke China's Most Favored Nation trade status (MFN)

US Politics

Voting position