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US Farmers Press Congress for Passage of China Trade Bill
The American Farm Bureau Federation (AFBF), over 65 commodity groups and some 200 farmers Tuesday kicked off a two-day Capitol Hill event promoting passage of the bill to grant permanent normal trade relations status to China.
AFBF President Bob Stallman, at a press conference here, urged Congress to pass the trade bill, saying passage of the legislation will create increased global economic prosperity and trade liberalization for both China and the U.S.
The Senate Finance Committee and the House Ways and Means Committee are expected to vote on the measure this week. The full House is expected to vote on the measure in the week of May 22 while the Senate will follow suit in early June.
Stallman said that the bilateral trade agreement reached last year between China and the United States was a "win-win" situation for both countries, especially America's farmers and ranchers whose "economic well being depends upon increased access to foreign markets."
"China is broadly recognized as the most important growth market for U.S. agricultural exports," he said.
The U.S. Department of Agriculture estimates that the total value of U.S. exports of wheat, rice, corn, cotton, soybeans and soybeans products would increase by 1.6 billion dollars in 2005 when the agreement is fully implemented. The average annual value of U.S. exports from 2000 to 2009 would increase by 1.5 billion dollars.
The commodity groups include the National Corn Growers Association, U.S. Wheat Associates, the National Pork Producers Council, the National Milk Producers Federation and the American Soybean Association.
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