U.S. Senator-elect Jim Banks has expressed support for revoking China's Most Favored Nation (MFN) status, which he claims has negatively impacted Indiana's economy. Banks made this statement in a November 8 post on X.

"After the US gave China normal trade relations status, Indiana lost 85,800 good-paying jobs," said Banks. "I 100% support pulling China's privileged trade status."

Last year, Banks introduced the Ending Normal Trade Relations with China Act of 2023. According to a press release, the legislation aims to "revoke China's normal trade relations status" to promote domestic manufacturing jobs. The bill would subject imports from China to higher tariff rates and provide the President with the authority to increase these tariffs further. Senator Josh Hawley introduced the Senate version of this bill.

According to a press release from the Coalition for a Prosperous America, they support this legislation. The Coalition described the bill as a "critical first step to reduce our import dependency on China." It includes a two-year delay on implementing the MFN repeal, which is considered a "generous accommodation for importers who continue to source from China."

The Heritage Foundation has also commented on this issue, stating that U.S. leaders should reconsider China's "permanent normal trade" status, also known as PNTR status. Countries with PNTR status benefit from "preferential trade treatment," such as lower tariffs and fewer trade barriers. In 2023, reports from the U.S.-China Economic and Security Review Commission and Congressional Executive Commission on China highlighted more than 100 examples of what they termed "disturbing Chinese economic and human rights practices."

Banks has represented Indiana's 3rd Congressional District since 2017, according to Ballotpedia, and was elected to the U.S. Senate in November 2024.