Late last year Pakistan formally said it would reciprocate a longstanding Indian offer of most-favoured-nation trading status.
ECONOMIST: Wary of China, India tries to charm its neighbours
Pakistan is unpicking official barriers to trade, after last year offering most-favoured nation trading status to India (reciprocating India's 1996 offer).
And yet, though Mr Gephardt's hopes of affecting China's trading status are slight, his own status stands to benefit from his new speech.
An exchange of ambassadors could lead to Vietnam getting Most-Favored Nation trading status and Export-Import Bank loans, critical for buying high-priced items such as aircraft.
Well clearly it altered the world economy in the short term, and the trading status of several middle eastern countries in the medium and long term.
That's because the idea behind the DREAM Act -- trading legal status for college attendance or military service -- is still unpopular with most voters in this country.
In 2002 the U.S. granted the country favored status as a trading partner, as a reward for cracking down on the illegal drug trade.
It is following in the footsteps of Bats Exchange, the Kansas City electronic trading firm that got exchange status in 2008 and is awaiting approval on an application to operate a second U.S. stock exchange.
After years of carrot-and-stick games with trade terms, the US has finally granted China permanent status as a normal trading partner.
Most-favored-nation status offers low tariffs and treats countries as normal trading partners.
CNN: Clinton Proposes Renewing China's Most-Favored Trade Status
Yet, as a result of judicial interpretations, tipping and insider trading can be severely punished under the antifraud provisions of the federal securities laws, whereas the status of issuer selective disclosure has been considerably less clear.
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