Amway on China
This article was originally published in The Rose Sheet
Executive Summary
Without a U.S. normal trade relations status designation for China, tariffs on domestic imports could increase 30% to 50%, Chairman Steve Van Andel states in comments before the House Ways & Means/Trade Subcommittee June 8. Van Andel spoke on behalf of the U.S. Chamber of Commerce to urge the committee to normalize trade relations with China and support its accession to the World Trade Organization. The U.S./China trade agreement, signed April 10, would lift the direct sales ban in China by 2003 ("The Rose Sheet" April 19, p. 9). The agreement remains subject to approval by Congress and President Clinton. Amway China, which commenced operations in 1995, is one of the country's largest investors, with 1997 consolidated sales of $178 mil. and over 500,000 Chinese distributors. Amway has invested $100 mil. in China over the past five years ("The Rose Sheet" June 15, 1998, p. 4)