Boosters For U.S.-Russia Trade

The Obama Administration is urging Congress to approve by August legislation that will boost trade relations with Russia, despite concerns over its record on human rights and support for Syria. Lawmakers are considering a bill (S. 3285) that would remove Cold War-era trade restrictions and authorize President Barack Obama to normalize trade relations with Russia, which is scheduled to join the World Trade Organization (WTO) later this summer. “Taking such action will ensure that the WTO agreement will apply between the U.S. and Russia and that U.S. businesses and workers will have the opportunity to enjoy all of the benefits of Russia’s membership,” U.S. Trade Representative Ronald Kirk told the Senate Finance Committee late last month. Russia, the world’s ninth-largest economy, will be required to open its markets and provide better protection for intellectual property rights. The American Chemistry Council, an industry trade group, says that access to new foreign markets like Russia is “increasingly essential for the continued expansion and competitiveness of American chemistry,” and will help meet Obama’s goal of doubling U.S. exports by the end of 2014.