I am glad that the Senate acted on this bill, which was passed in the House of Representatives last May by a vote of 237 to 197. I voted in favor of PNTR, not only because of the benefits that American farmers and businesses stand to gain in terms of increased trade, which are substantial, but also because of the impact approval of PNTR will have for U.S. national security and stability in Asia. A solid trade relationship with China, with its huge potential markets, is important to Missouri. In 1998, China was Missouri's sixth most important export market and the United States' fourth largest trading partner.
China is the last major untapped market for American agriculture.
Without Congressional approval of PNTR for China, the only winners would be our international competitors who would welcome the chance to gain market share that would otherwise go to U.S. farmers and benefit the entire agriculture community. Congressional approval of PNTR also has implications for U.S. national security. Early this year, I led a small House Armed Services Committee delegation on a trip to the Asia-Pacific region. Although we did not visit China, we did find in our meetings with officials how much other nations in Asia value America's presence and engagement in the region to promote stability. The state of U.S.-China relations is critical to the future stability, prosperity, and peace in Asia.