WASHINGTON - The House approved legislation granting China Permanent Normal Trade Relations (PNTR) with the United States, allowing China to assist U.S. companies with providing construction equipment for infrastructure projects planned for 2001-2005. The Senate is expected to approve PNTR in July.
China's projects include $26 billion in inland waterway developments, $2.7 billion in subway projects and $14.5 billion in dredging projects.
The Construction Industry Manufacturers Association applauded the move, saying permanent normal trade relations with China will translate to lower tariffs and full distribution rights for U.S. construction equipment manufacturers.
"This favorable vote creates expanded U.S. trade opportunities, which help keep American companies strong and able to provide jobs and taxes that benefit their local communities as well as the entire American economy," said CIMA's Dennis Slater.
