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She said the government was working closely with the US Congress to get the necessary legislation passed.
Mrs Clinton was speaking ahead of the Asia-Pacific Economic Co-operation (Apec) summit in Vladivostok.
Russian President Vladimir Putin has urged a fight against protectionism to turn the global economy around.
And Chinese President Hu Jintao promised his country would try to help the world's economy by increasing the demand in China for imported goods.
'Bridges not walls' Although Russia is now a member of the World Trade Organisation, there is still a piece of legislation that prevents US companies trading normally with Russia - the 1974 Jackson-Vanik amendment which, although suspended, remains in place.
She added: "To make sure our companies get to compete here in Russia, we are working closely with the United States Congress to terminate the application to Jackson-Vanik to Russia and grant Russia permanent normalised trade relations.
"We hope that the Congress will act on this important piece of legislation this month."
However there are concerns in the US Congress about Moscow's support for Iran and Syria, as well as its broader human rights record, so the timing of a vote on the issue remains unclear.
Mr Putin, who is hosting the summit, expressed concern about the world economy, and particularly Europe's debt crisis.
"The priority goal is to fight protectionism in all its forms. It is important to build bridges not walls," he said.
President Hu said: "The world economy today is recovering slowly, and there are still some destabilising factors and uncertainties.
"The underlying impact of the international financial crisis is far from over.
"We will work to maintain the balance between keeping steady and robust growth, adjusting the economic structure and managing inflation expectations. We will boost domestic demand and maintain steady and robust growth as well as basic price stability."
Meanwhile, Australian Prime Minister Julia Gillard has left the talks early to return home after her father died.

The ECB said it would buy bonds of the bloc's debt-ridden nations in a bid to bring down their borrowing costs.
The implied borrowing costs for Spain and Italy fell after the announcement.
Japan's Nikkei 225 index rose 2.2%, Korea's Kospi gained 2.6% and Hong Kong's Hang Seng added 3.1%.
"We think this is a credible plan to addressing the issue, and while there are still political hurdles, we expect those will be addressed," said Alec Young, global equity strategist at S&P Equity Research.
'Ready to act'
That led to concerns that these nations would no longer be able to borrow money from international investors and, therefore, would not be able to repay their debts, further escalating the region's debt crisis.
Many investors feared such developments would not only hurt the eurozone's growth, but could also derail the global economic recovery.
That would have had a knock-on effect on Asia's export-dependent economies, which rely heavily on global demand.
However, the ECB's announcement, and the drop in borrowing costs of Spain and Italy thereafter, has helped allay those fears.
Markets in the US rose, with the Dow Jones index hitting it highest level in almost five years.
In Europe, Germany's Dax index closed 2.9% higher, while France's Cac 40 jumped 3% and the UK's FTSE 100 rose 2.1%.
"The markets were looking for a strong decisive action and a commitment from the central bank that they are ready to act if any issues blow up in the region's bigger economies," Justin Harper of IG Markets told the BBC.
"Last night they got that."
'Risk appetite'
The ECB announcement also provided a boost to the euro currency, which rose against the US dollar and the Japanese yen.
The euro was trading at $1.263 in Asian trading. It also rallied against the Japanese currency to 99.63 yen.
Analysts said that the ECB's plan had boosted investor morale and that they were more confident of investing in riskier assets.
"The ECB's actions afford time, allowing risk appetite to stage a comeback, for now," said Vincent Chaigneau, a strategist at Societe Generale.
However, they warned that while the ECB's plan had helped allay market fears, the crisis was far from over.
"Mr Draghi has won a battle, but cannot win the euro area crisis war by himself," Mr Chaigneau said.
"The hardest task of all - getting governments to drop posturing in return for leadership and deep reforms - still awaits us."

The move follows a series of incidents in which foreign troops have been killed by Afghan soldiers or policemen.
The suspension of training - which only applies to new ALP recruits - will allow US special operations forces to "re-vet" current ALP forces.
US special forces currently have around 1,000 Afghan local police trainees.
"While we have full trust and confidence in our Afghan partners, we believe this is a necessary step to validate our vetting process and ensure the quality indicative of Afghan local police," Col Thomas Collins, spokesperson for US forces in Afghanistan, said in a statement.
The suspension of training would be "temporary", according to Col Collins, adding: "Despite the recent rise in insider attacks, they are relatively rare among SOF [Special Operations Forces]-partnered forces."
An existing eight-step vetting programme will be made more rigorous, officials say.
The number of counter-intelligence teams will be increased and there will be greater vetting when Afghan soldiers return from leave.
Military guidelines on vetting have sometimes not been followed in the past for fear of slowing the growth of the Afghan security forces, officials told the Washington Post.
Operations by forces already trained would continue, as would the recruitment of new trainees, US Special Operations Forces spokesman Lt Col John Harrell told the Associated Press.
There are currently 16,380 members of the ALP.
The Afghan army and national police, trained by Nato, are unaffected by the suspension. The training of Afghan special forces will also continue.
On average, 7,000 Afghan soldiers and 3,700 Afghan police graduate from training every month.
The ALP is a relatively new force, introduced to improve security in some of the most remote parts of the country, the BBC's Quentin Sommerville in Kabul reports.
'Green-on-blue' attacks On Wednesday, three Australian soldiers were killed by a man in Afghan army uniform in Uruzgan province.
Some 45 coalition troops have died in more than 30 "green-on-blue" attacks this year, at least 15 of them in August alone.
The term refers to the colour-coding systems used by the US military - Nato forces are "blue" and Afghans are "green".
The Taliban has been actively recruiting members of the Afghan security forces, publicly announcing that insider attacks were a central part of their strategy against Nato forces.
Most of the victims of the green-on-blue attacks have been Americans.

The charges cannot be dismissed formally until the end of the inquiry, but prosecutors said all detained miners would be freed.
Local authorities used a controversial apartheid-era law to accuse the miners of provoking police to open fire.
Miners were demanding a huge pay rise and recognition of a new union.
The killings, at the Marikana mine, owned by Lonmin, shocked the nation.
State prosecutors charged 270 miners with murder under the "common purpose" doctrine.
The rule was used by the white-minority apartheid regime to crack down on its black opponents, and at the time was opposed by the now governing African National Congress.
'Machete threats' But he said in a statement earlier that he would not intervene in the case.
Acting national director of prosecutions Nomgcobo Jiba held a news conference on Sunday to announce the charges would be scrapped.
"Final charges will only be made once all investigations have been completed," she said.
"The murder charges against the current 270 suspects will be formally withdrawn provisionally in court."
She said those whose addresses have been verified by police would be released on Monday, and the rest would remain in custody until their next court appearance on Thursday.
The BBC's Nomsa Maseko in Johannesburg says public anger, already high over the shootings, was exacerbated by the charges.
On Friday, Justice Minister Jeff Radebe said the charges had "induced a sense of shock, panic and confusion" in the public and demanded a report from state prosecutors to explain their rationale.
The 270 miners, six of whom remain in hospital, were arrested during the protests.
They were charged on Thursday, with the prosecutors arguing they were part of the crowd whose actions provoked the police into opening fire.
No police officers have been charged over the deaths because a judicial inquiry and an internal police review are under way, but these are expected to take several months to complete.
The strike turned violent before the police shooting, with the deaths of 10 people including two police officers and two security guards who were hacked to death.
The protests were triggered by demands for a huge pay rise and recognition of a new union.
Talks are continuing to resolve the dispute, which has shut the mine for the past three weeks.

(CNN) -- Myanmar's Ministry of Information announced Monday that it has ended pre-publication censorship, but it laid out a welter of strictures on free expression that remain in place.

NEW YORK (CNNMoney) -- As Apple's stock rose to new high on Monday, the technology giant set another record: It became the most valuable public company in history.
Apple's market value -- the price of its stock multiplied by the number of outstanding shares -- hit $623 billion in intraday trading. That eclipsed the previous record of $618.9 billion set by Microsoft on Dec. 30, 1999, at the height of the dot-com bubble, according to Howard Silverblatt, S&P's senior index analyst.
Apple shares hit a new record of $664.74 per share. The anticipated September launch of the new iPhone, coupled with rumors of a smaller iPad and a more feature-rich Apple TV have lifted the stock in recent weeks.
It's a stunning achievement for a company that was a struggling also-ran when Microsoft was setting records in the late 1990s. Apple was valued at less than $10 billion as recently as 2004, and at $100 billion just three years ago.
Since 2007, however, Apple (AAPL, Fortune 500) has been an unstoppable force. Its iPhone business alone now brings in more money than Microsoft (MSFT, Fortune 500). Even the iPad, which was intended to be a gap-filling product between the iPhone and the Macintosh, has itself become a multi-billion dollar product for Apple.
Apple is on pace to be the world's largest technology company in terms of sales by the end of the year, and it's among the most profitable companies in the world. In the last three months of 2011, Apple made $13 billion -- second only to ExxonMobil's (XOM, Fortune 500) record-setting $14.8 billion quarter from the fall of 2008, when oil prices were at an all-time high.
The company's lightning-quick growth shows no signs of subsiding. With rumors of new gadgets on the horizon, Apple has crossed the $400 billion, $500 billion and $600 billion marks -- all in 2012 -- as the stock has soared 64% this year.
Despite the fast growth, some say that the company is actually undervalued, since its stock gains haven't kept pace with its earnings. Trading at 15 times this year's earnings forecast, it has a price-to-earnings ratio far below that of some tech stocks, including Facebook (FB), Groupon (GRPN) and even Zynga (ZNGA), whose stock has plunged sharply.
Apple still has one last hurdle to climb: Microsoft still holds the record for most valuable company on the stock market if inflation is taken into account. In 2012 dollars, Microsoft's all-time-high would have amounted to $851 billion.
Apple has quite a way to go before it hits that mark. Its stock would have to reach $908 per share.

Lonmin said the Marikana mine reopened but no ore was produced after fewer than a third of staff turned up.
It also said a deadline for striking miners to return to work or face dismissal had been extended to Tuesday.
President Jacob Zuma declared a week of national mourning for those killed.
He has also called for a commission of inquiry to investigate the incident.
Memorial service "Lonmin can confirm that work at its Marikana operations resumed today as significant numbers of employees returned to work," the company said in a statement.
"Almost one third of the 28,000-strong workforce reported for their morning shifts.
"The company can also announce that those illegal strikers who did not return to work this morning will not be dismissed and have been allowed an extra day in light of current circumstances."
Later, Lonmin executive vice-president for mining Mark Munroe said that "for all intents and purposes" no ore had been produced at the mine on Monday.
"By 07:00 tomorrow (05:00 GMT) we expect workers to return to work. After that, Lonmin has the right to fire them," he said.
"We are aware that it will take some time for some trust to be regained," he added.
Union officials quoted by Reuters said that at least 80% of the workforce was needed to bring platinum out of the shafts.
The BBC's Nomsa Maseko in Johannesburg says it remains to be seen whether more workers will report for duty on Tuesday.
A significant number have vowed to prolong their stay-away, saying that returning to work would be an insult to their dead colleagues, she adds.
The week of mourning began on Monday and a memorial service is planned for Thursday.
About 3,000 rock-drill operators (RDOs) walked out more than a week ago in support of demands for higher pay.
The strike was declared illegal by Lonmin, the world's third-largest platinum producer, and the mine was shut.
Clashes between strikers, some holding clubs and machetes, and police culminated on Thursday when officers armed with automatic rifles and pistols fired dozens of shots.
In addition to those killed, at least 78 people were injured and some 250 people were arrested.
Those arrested were remanded in custody by a court in the Pretoria township of Ga-Rankuwa on Monday. Charges included murder, public violence and attempted robbery.
During the hearings, about 100 women appeared outside the court to appeal for leniency for the men.
While union leaders held meetings on Monday, about 1,000 workers gathered near the mine said they would not return.
Several accused Lonmin of insensitivity for expecting them to go back to work while they were still in mourning.
"They can fire us if they want, we are not going back to work. [President] Zuma must shut down that mine," one worker told AFP news agency.
Correspondents at the scene said workers outside the mine were unarmed and in a calmer mood than on previous occasions.
The miners, who are currently earning between 4,000 and 5,000 rand ($484-$605) a month, say they want their salary increased to 12,500 rand ($1,512).