China and the World Trade Organization: An Economic Balance Sheet
China's accession to the World Trade Organization (WTO) would affect the fundamental economic interests of both the United States and China. American opportunities to export to and invest in China would increase significantly. The United States would continue to apply the same, normal tariffs it has applied to imports from China continuously since 1980, but on a permanent basis instead of through annual renewals. China would ultimately be freed from quota restrictions under the Multi-Fiber Arrangement, which is being phased out as part of the WTO Agreement on Clothing and Textiles, enabling China to compete freely in the US market with other textile and apparel producers. The United States would agree to resolve trade disputes with China multilaterally as it does with the other 131 WTO members, rather than bilaterally.
|Date of creation:||Jun 1999|
|Date of revision:|
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