United Parcel Service is not optimistic that it will win because of the historic preference given to passenger carriers in such cases. Therefore, according to United Parcel Service, a new U.S. cargo carrier will not enter the U.S.-China market under the new agreement. This means that foreign cargo carriers will continue to benefit from the market, at the expense of U.S. carriers and the U.S. economy. I want to make it clear, however, that I am not here today to criticize the new U.S.-China aviation agreement. Rather, I am here to point out that this agreement spells out how U.S. carriers will operate and compete in China for the next three years.
China is the largest market in the world and holds great trading potential for the United States.
Yet, Congress did not play any official role in approving this agreement which has enormous economic impact on both countries. For this reason, I am once again introducing the Aviation Bilateral Accountability Act, which will require congressional approval of all U.S. bilateral aviation agreements. Aviation agreements have tremendous, long-term impacts on U.S. carriers, U.S. cities, U.S. consumers, and the U.S. economy. In effect, these agreements are trade agreements that determine the amount of access the U.S. will have to particular foreign markets. Congress should not be excluded from agreements of such magnitude.