[Congressional Record Volume 140, Number 135 (Friday, September 23, 1994)]
[Senate]
[Page S]
From the Congressional Record Online through the Government Printing Office [www.gpo.gov]


[Congressional Record: September 23, 1994]
From the Congressional Record Online via GPO Access [wais.access.gpo.gov]

 
                        AMERICA'S TRADE DEFICIT

  (Ms. KAPTUR asked and was given permission to address the House for 1 
minute and to revise and extend her remarks.)
  Ms. KAPTUR. Mr. Speaker, let me point out to my friends that the free 
traders who brought us $100 billion trade deficits over the past 
decade, that have decimated good-paying jobs in America, 3.2 million 
manufacturing jobs lost since 1979; the folks who brought us NAFTA 
which has led to a 32 percent decrease in our trade advantage with 
Mexico coupled with a 32 percent increase in United States investment, 
over 8 thousand more jobs lost; and the very same free traders who idly 
talk for partial agreements with Japan even as the United States racked 
up one of its worst monthly trade deficits with Japan--$5.7 billion in 
July, or using the administration's own calculation of 20,000 jobs for 
every billion dollars of trade, in stark terms, over 100,000 United 
States jobs lost because of our trade deficit with one country in 
July--well, this same group now wants to see you GATT.
  They want to give GATT to you like a fast ball, with no amendment, 
with no real hearings, and they want to take their stealth bill of 1994 
and pass it in the wee hours before this session ends.
  Just remember, I told you so. As reported by the Washington Post, the 
United States could wind up with its worst trade year in history. This 
after oh so many years of trade agreements like GATT. When are we going 
to wake up and sign trade agreements that benefit America for a change?

                          ____________________