Res. 120 and in support of the extension of Vietnams JacksonVanik waiver. Since President Clinton lifted the trade embargo against Vietnam in 1994. the administration has taken steps to normalize U.S. trade relations with that country. This process is subject to the JacksonVanik amendment to the Trade Act of 1974. the provision of U.S. law which contains emigration criteria that must be met or waived by the President before a country subject to JacksonVanik can engage in normal trade relations. including normal tariff treatment. with the United States and gain access to U.S. trade financing programs. Because Vietnam is not eligible for normal trade relations with the U.S.. pending the completion and approval by Congress of a bilateral commercial agreement. the immediate effect of Vietnams JacksonVanik waiver is quite limited. Specifically. the waiver only allows Vietnam to be reviewed for possible coverage by U.S. trade financing programs such as OPIC.
Keywords matched
emigration