President Obama signs Russia trade bill

President Obama signed trade legislation on Friday granting permanent normal trade relations (PNTR) to Russia and Moldova and punishing human rights violators involved in the death of a whistleblower lawyer who exposed government corruption. 

The Senate cleared the measure last week for the president's signature nearly three months after Russia joined the World Trade Organization (WTO) after an 18-year quest to join the group. 

The measure repeals the obsolete Jackson-Vanik provision, a U.S. law aimed at encouraging the emigration of Russian Jews with the threat of higher tariffs. It also specifically calls for denying U.S. visas and freezing the assets of Russian officials involved Sergei Magnitsky's death.

Business groups and lawmakers, many of whom attended the signing ceremony, praised the completion of the long-awaited legislation. 

"This is a big win for U.S. exports and jobs," said Senate Finance Committee Chairman Max Baucus (D-Mont.).

"We’re gaining access to a fast-growing market, and we give up nothing in return.” 

House Ways and Means Chairman Dave Camp (R-Mich.) agreed that the law will increase exports, create jobs and give the United States a "powerful new enforcement tool."

"The Magnitsky provision sends a strong message that the U.S. will not tolerate human rights transgressions," he said. 

The House passed the measure with broad support on Nov. 16 and the Senate easily cleared the measure Dec. 6. 

Several senators, including Maryland Democrat Ben Cardin, had pressed for broader human rights language that punished global violators of human rights but agreed to take up the issue in the next Congress. 

“With the signing of this legislation, American businesses and workers are closer to enjoying the full economic benefits of Russia’s WTO commitments," said U.S. Trade Representative Ron Kirk. 

Business groups had made passage of a bill its top trade priority for the year and had spent the better part of the past six months pressing Congress to pass the legislation. Lawmakers returned after the elections and quickly moved the measure.  

Business Roundtable (BRT), an association of chief executive officers, welcomed the signing and urged the Obama administration and the next Congress to pursue an active trade agenda next year.

"We believe this legislation will also support U.S. economic growth and job creation, as Russia is the world’s sixth-largest economy in terms of purchasing power and is home to roughly 142 million consumers who want greater access to American-produced products," said Doug Oberhelman, the head of Caterpillar who attended the White House signing. 

The National Foreign Trade Council (NFTC) said the law will provide "greater access to this critical market."

“With Russia PNTR, U.S. companies, service providers, farmers and workers can now reap the benefits of Russia’s WTO membership and compete on a level playing field.”

Manufacturers also billed the law as an avenue to U.S. growth. 

"It is vital to manufacturers’ competitiveness that we take advantage of every opportunity to reach new export markets," said Jay Timmons, head of the National Association of Manufacturers.  

"In the future, we look to the administration and Congress to move forward with additional market-opening agreements to help level the playing field for manufacturers in the United States."

Those in attendance on Friday included Kirk, Baucus, Oberhelman and Cardin, as well as Mark Levin, executive director of the National Conference on Soviet Jewery (NCSJ), 

Klaus Kleinfeld, chairman and CEO, Alcoa, Sens. Roger Wicker, (R-Miss.)

, Jeanne Shaheen (D-N.H.)

, Joe Lieberman (ID-Conn.), Reps. Steny Hoyer, (D-Md.), Sandy Levin (D-Mich.), Jim McGovern (D-Mass.)
 and Gregory Meeks (D-N.Y.), Carl Gershman, president of the National Endowment for Democracy

 and Rebecca Blank, acting secretary of the Commerce Department.