It’s time for the US to revoke China’s ‘normal trade’ status
In April 2022, six weeks after Moscow’s invasion of Ukraine, President Biden signed legislation to suspend Russia’s Permanent Normal Trade Relations (PNTR) status. “Revoking PNTR from Russia,” he said, “is going to make it harder for Russia to do business with the United States… The free world is coming together to defeat Putin.” PNTR status, also known as Most Favored Nation (MFN) status, is a designation granted among World Trade Organization members. Receiving nations are awarded all trade advantages that any other nation receives. Revoking PNTR status from Russia was a strategic move. It opened the door to deliver comprehensive economic strikes against Moscow and sent a clear signal to markets.