U.S. businesses benefit. and. the availability of such credits can only enhance the competitiveness of U.S. firms in a highly competitive market. In addition. the effects of ExIm Bank credits are expected to more than offset any loss in revenue to the United States associated with the lower column I rates of duty. I would like to turn. finally. to the emigration requirements which section 402 of the Trade Act of 1974 demands be a part of any trade agreement which extends mostfavorednation status to a nonmarket economy country. In the first instance. the country to which nondiscriminatory treatment is to be extended must permit its citizens the freedom to emigrate. However. the President may waive this requirement if he receives assurances that the policies of the Government with respect to emigration are moving in a direction that will substantially promote the desired result. in other words freer emigration. The President notified the Congress. both in his letter of transmittal and through Deputy Secretary of State Warren Christopher. that he has received the requisite assurances. The statistics show that emigration has increased substantially since the Government announced a major shift in policy about 3 years ago. For example. emigration from Hong Kong. a major departure point. has tripled since 1977. I can only remind my colleagues that. as it stands now. legal restrictions imposed by countries of destination serve as a greater barrier to emigration than the internal policies of the Chinese Government. Nevertheless. it is important to monitor the performance of the PRC with respect to emigration. and we will have another opportunity to carefully review more recent results when the waiver authority is extended in July of this year. Mr. Chairman. the trade agreement to be approved by the resolution that we will vote on today is an important agreement both for the United States and for China.
Keywords matched
emigrate emigration