This trade will be especially important to Californians. because our productivity. reserves. and geographical location will insure that a large percentage of this trade will be with California firms. The administration has submitted the trade agreement to Congress together with a Presidential waiver of restrictions in section 402 of the 1974 Trade Act which would prohibit extension of credits and investment guarantees to the PRC. The terms of this Presidential waiver are fully consistent with the provisions of the socalled JacksonVanik amendment. which places curbs on trade with Communist countries denying emigration rights to their citizens. I support the Presidents determination that the PRC should now be made eligible for trade credits and investment guarantees. I am concerned. however. that not enough effort has been made to insure that sufficient ExportImport Bank credits will be available for full implementation of the trade agreement.
Keywords matched
emigration