AMTAC 'No' for PNTR to Vietnam sans adequate safeguards
13 Jul '06
5 min read
Auggie Tantillo
American Manufacturing Trade Action Coalition Executive Director Auggie Tantillo testified today before the U.S. Senate Finance Committee in opposition to S. 3495, legislation that would grant permanent normal trade relations (PNTR) to Vietnam.
For practical purposes, Congressional passage of PNTR is a prerequisite for Vietnam to join the WTO.
AMTAC submitted nine pages of written testimony and Tantillo verbally delivered the following statement to the Committee:
Mr. Chairman and Committee Members: Thank you for the opportunity to testify. My name is Auggie Tantillo, and I am the Executive Director of the American Manufacturing Trade Action Coalition (AMTAC).
AMTAC is a trade association founded by companies committed to manufacturing here in the United States.
We represent a range of industrial sectors including producers of chemicals, tool and die products, industrial mold and metal products, packaging materials, and furniture. Textile and apparel producers also are a significant component.
AMTAC strongly opposes granting Vietnam permanent normal trade relations (PNTR). This is based on the belief that granting PNTR to Vietnam would replicate the policy mistake made by U.S. government in 2001 that allowed China to join the WTO without transitioning from a non-market, state-run economy to a non-subsidized, free-market economy.
By permitting China to join the WTO prematurely, the United States forfeited itsleverage to insist that China address critical issues like IPR violations, its undervalued currency, and the rampant use of non-performing loans.
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