PNTR for Russia signed into law
Permanent normal trade relations – also known as “PNTR” – for Russia was signed into law Dec. 14 by President Barrack Obama.
The American Farm Bureau Federation supported and worked toward passage of the measure, and it was also supported by Indiana Farm Bureau.
This action, according to AFBF, will ensure the U.S. benefits from Russia’s accession to the World Trade Organization and remains competitive in that market.
American agriculture exports over $1.4 billion to Russia annually, primarily poultry, pork and beef products, AFBF said.
“Trade is critically important to Indiana agriculture and passing PNTR allows for Indiana farmers, particularly pork, poultry and beef producers, to gain more competitive access to a significant market and economic opportunity,” said IFB President Don Villwock.
PNTR for Russia was first passed in the U.S. House of representatives in November on a 365-43 vote and then by the Senate on Dec. 6 in a landslide 92-4 vote.