[Congressional Record Volume 141, Number 72 (Wednesday, May 3, 1995)]
[House]
[Page H4529]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]


        INTRODUCTION OF THE PROFESSIONAL TRADE SERVICE CORPS ACT

  The SPEAKER pro tempore. Under a previous order of the House, the 
gentlewoman from Ohio [Ms. Kaptur] is recognized for 5 minutes.
  Ms. KAPTUR. Mr. Speaker, I agree with my colleagues who were on the 
floor here of the absolute necessity of the United States balancing its 
budget and putting our financial house in order. But this afternoon, I 
want to talk to you about a different deficit, the trade deficit, and a 
piece of legislation I am introducing today, the Professional Trade 
Service Corps Act, which is essential to America correcting that 
deficit as well.
  U.S. trade policy for the last two decades under both Democratic and 
Republican Presidents has been a major net loser for our Nation, its 
businesses and our workers. While some individual corporations and 
certain shareholders have benefited, overall the productive wealth of 
America has been diminished, as ballooning trade deficits have fueled 
the movement of our dollars offshore, as our citizens bought more and 
more imported goods coming into this country rather than our exports 
being sold abroad.
  Trade deficits represent a serious decapitalization of this country, 
with more and more of our people's money moving abroad to pay for the 
goods they are buying from foreign importers, while foreign capital 
pours into this country. The economic accounts tell the story.
  In 1980, our country was a net lender to the world, as foreign 
interests owed us more than $400 billion.

                              {time}  1230

  Today, however, the United States owes foreign creditors nearly $800 
billion. We are now a net debtor nation.
  As foreign imports, including many from U.S.-based firms that have 
escaped offshore, surge into our country, jobs that should have been 
created here, good-paying jobs, are now being located elsewhere in the 
world.
  Furthermore, the value of our dollar continues its decade-long 
decline as U.S. dollars flood into the international market to pay for 
the goods that we are buying from other places.
  Last year our country racked up yet another record deficit with the 
world in merchandise trade of over $166 billion. For January of this 
year, the United States set a monthly record deficit of $12 billion 
more in just 1 month, and keep in mind $1 billion of debt in trade 
translates into 23,000 lost jobs in this country.
  These deficits represent real lost jobs, stagnant wages, and 
decreased living standards as your dollar buys less in this country.
  You might be watching the trade talks that are going on with Japan 
right now. Last year we had over $66 billion in trade deficit with 
Japan, more of their goods coming in here than our goods being able to 
get into that market, because in fact it is a closed market, and if you 
just look at the automotive segment of that deficit, which represents 
half of our deficit with Japan, if we could solve that problem we could 
build in this country 100 factories, each employing over 5,000 workers, 
100 factories, each employing over 5,000 workers, if we only solved 
half the trade problem that we have with Japan.
  In short, these deficits hurt every American in our communities, and 
that is why today I am introducing the Professional Trade Service Corps 
bill to upgrade U.S. trade negotiating functions through creation of a 
specialized tenured body of trained professional trade negotiators for 
this country. The Corps' mission would be to conduct U.S. trade 
negotiations and streamline the trade functions of this Government.
  The Professional Trade Service Corps incorporates a three-tier 
strategy to address the need for more skilled and committed U.S. trade 
negotiators. First the proposal would accomplish that goal by creating 
an elite professional body of American negotiators to address the 
issues of short tenure and the revolving door among our trade 
negotiators.
  The average trade negotiators for our country stay in their position 
2 years. The average negotiator for Japan stays in his position 30 
years, speaks several languages, and has worked in various countries 
around the world.
  Our bill would also establish a Trade Services Institute to train our 
current and future U.S. trade negotiators in the practices, culture, 
and customs of our trade competitors.
  Then finally the bill restricts Trade Service Corps officials as well 
as other senior members of the executive and legislative branches from 
representing or advising foreign interests immediately after leaving 
Government service.
  U.S. trade negotiators serve on the front lines of today's battle to 
win market share in the increasingly competitive international 
marketplace. To win, our country must have highly trained, 
professional, tenured, and committed trade negotiators with integrity 
at the table negotiating the best terms for America's workers and 
America's businesses.
  I ask my colleagues to please join me in cosponsoring the 
Professional Trade Service Corps Act. Put this country on an equal 
footing at the international bargaining tables that control our destiny 
in terms of jobs and development in this country.


                          ____________________