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- - "Finance, Foreign Relations Leaders Announce Plan to Advance Human Rights Legislation with Trade Bill Washington, DC – Senate Finance Committee Chairman Max Baucus (D-Mont.), International Trade Subcommittee Ranking Member John Thune (R-S.D.), Foreign Relations Committee Chairman John Kerry (D-Mass.) and Armed Services Committee Ranking Member John McCain (R-Ariz.) unveiled legislation today to enable American businesses to pursue new job-creating export opportunities in Russia when it joins the World Trade Organization (WTO) this summer. The legislation establishes permanent normal trade relations (PNTR) with Russia and repeals the 1974 Jackson-Vanik amendment, steps which are required for American businesses to capitalize on the new market access in Russia. Establishing PNTR will provide a boost to the U.S. economy, doubling American exports to Russia in just five years and helping create jobs across every economic sector – services, manufacturing and agriculture included. “This is an opportunity to double our exports to Russia and create thousands of jobs across every sector of the U.S. economy, all at no cost to the U.S. whatsoever. We give up nothing as part of this process – not one single tariff reduction – so its truly a one-sided benefit for the U.S.,” Baucus said. “Jackson-Vanik served its purpose during the Cold War, but its a relic of another era that now stands in the way of our farmers, ranchers and businesses pursuing opportunities to grow and create jobs. We owe it to American workers and businesses […] "
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