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The People's Republic of China is granted permanent normal trade relations with the United States.

The status of permanent normal trade relations (PNTR) is a legal designation in the United States for free trade with a foreign state.

The status of permanent normal trade relations (PNTR) is a legal designation in the United States for free trade with a foreign state. The designation was changed from most favored nation (MFN) to normal trade relations by Section 5003 of the Internal Revenue Service Restructuring and Reform Act of 1998. Permanent was added to normal trade relations some time later.

In international trade, MFN status (or treatment) is awarded by one country to another. It means that the receiving nation will be granted all trade advantages, such as low tariffs, that any other country also receives. Thus, a country with MFN status will not be discriminated against and will not be treated worse than any other country with MFN status.

Historical Significance

The status of permanent normal trade relations (PNTR) is a legal designation in the United States for free trade with a foreign state.

Events Before

  1. Gisborne, New Zealand, with a population of approximately 32,754, is the first city in the world to welcome the new Mill

    Gisborne, New Zealand, with a population of approximately 32,754, is the first city in the world to welcome the new Millennium

  2. Microsoft chairman Bill Gates steps aside as chief executive and appoints company president Steve Ballmer as his success

    Microsoft chairman Bill Gates steps aside as chief executive and appoints company president Steve Ballmer as his successor

  3. NASDAQ Composite stock market index peaks at 5132.52, signaling the beginning of the end of the dot-com boom

    NASDAQ Composite stock market index peaks at 5132.52, signaling the beginning of the end of the dot-com boom

  4. South African cricket captain Hansie Cronje is charged by Delhi police with fixing One Day International matches against

    South African cricket captain Hansie Cronje is charged by Delhi police with fixing One Day International matches against India

  5. Metallica files a lawsuit against the peer-to-peer sharing platform Napster, accelerating a movement against file-sharin

    Metallica files a lawsuit against the peer-to-peer sharing platform Napster, accelerating a movement against file-sharing programs

Events After

  1. Euro banknotes and coins become legal tender in twelve of the European Union's member states

    There are eight denominations of euro coins, ranging from one cent to two euro (the euro is divided into a hundred cents). The coins first came into use in 2002.

  2. 29th American Music Awards: Janet Jackson and Lenny Kravitz win. Michael Jackson receives Artist of the Century award.

    29th American Music Awards: Janet Jackson and Lenny Kravitz win. Michael Jackson receives Artist of the Century award.

  3. US President George W. Bush in his State of the Union address describes "regimes that sponsor terror" as an "Axis of Evi

    US President George W. Bush in his State of the Union address describes "regimes that sponsor terror" as an "Axis of Evil," which includes Iraq, Iran, and North Korea

  4. "Blue" country and pop singer LeAnn Rimes (19) weds backup dancer Dean Sheremet (21) at Perkins Chapel in Dallas, Texas

    "Blue" country and pop singer LeAnn Rimes (19) weds backup dancer Dean Sheremet (21) at Perkins Chapel in Dallas, Texas

  5. US invasion of Afghanistan: US conventional forces first deployed as part of Operation Anaconda

    Shortly after the September 11 attacks in 2001, the United States declared the war on terror and subsequently led a multinational military operation against Taliban-ruled Afghanistan.

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Gisborne, New Zealand, with a population of approximately 32,754, is the first city in the world to welcome the new Mill

Gisborne, New Zealand, with a population of approximately 32,754, is the first city in the world to welcome the new Millennium

Euro banknotes and coins become legal tender in twelve of the European Union's member states

There are eight denominations of euro coins, ranging from one cent to two euro (the euro is divided into a hundred cents). The coins first came into use in 2002.

Frequently Asked Questions

What happened on December 27, 2001?
The status of permanent normal trade relations (PNTR) is a legal designation in the United States for free trade with a foreign state. The designation was changed from most favored nation (MFN) to normal trade relations by Section 5003 of the Internal Revenue Service Restructuring and Reform Act of 1998. Permanent was added to normal trade relations some time later.
Why is The People's Republic of China is granted permanent normal trade relations wi... significant?
The status of permanent normal trade relations (PNTR) is a legal designation in the United States for free trade with a foreign state.

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December 27 in HistoryYear 2001