Washington, D.C. (KINY) – U.S. Senators Dan Sullivan (R-Alaska) and Ben Cardin (D-Md.), and Representatives Dina Titus (D-Nev.) and Vern Buchanan (R-Fla.), introduced legislation today to increase direct trade between the United States and Mongolia by providing Mongolian cashmere products with duty-free access to the American market.
The Mongolia Third Neighbor Trade Act would grant Mongolia this preferential trading relationship to strengthen the economy of a critical U.S. partner in central Asia and strengthen the young democracy against the threats and economic coercion of its only two geographic neighbors, the People’s Republic of China and Russia. The legislation contains the same safeguards as other U.S. preferential trade arrangements to ensure, among other things, that its benefits are not diverted to the People’s Republic of China.
“Mongolia is an island of democracy in a sea of despotism,” said Sen. Sullivan. “As Mongolia’s ‘third neighbor,’ America has an opportunity to bolster a vital element of our partner’s economy, deepen the ties between our two nations, and shield Mongolia against the designs of America’s number one geopolitical adversary, the Chinese Communist Party regime. I hope my colleagues, many of whom speak strongly about the China threat, will support our legislation and back up those strong words with action that demonstrates America’s unflinching commitment to our allies and our resolve to confront this new era of authoritarian aggression.”
Mongolia’s agricultural sector employs roughly one-quarter of Mongolian citizens and accounts for roughly 40 percent of the world’s raw cashmere. The legislation intends to support the growth of Mongolia’s domestic textile industry so that the Mongolian people can benefit from the value-added processing of cashmere, which has historically been done in the People’s Republic of China.
