WORLD : China, Hungary Retain Trade Status
President Bush today granted a one-year extension of trade benefits to China and Hungary, based on their performance on human rights.
In a notice to Congress, Bush said he is keeping the two countries on the list of nations that enjoy the “most favored nation” trading status.
The designation protects these nations from higher tariffs that the United States imposes on countries it deems to have poor records on human rights and emigration.
The Soviet Union, for example, does not have preferred trade status, but Bush has offered to grant that designation if Moscow formalizes its relaxed emigration policy.
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