[Congressional Record Volume 151, Number 6 (Wednesday, January 26, 2005)]
[Senate]
[Page S600]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Mr. SMITH (for himself, Mrs. Feinstein, Mr. Baucus, and Mr. 
        Santorum):
  S. 191. A bill to extend certain trade preferences to certain least-
developed countries, and for other purposes; to the Committee on 
Finance.
  Mr. SMITH. Mr. President, I rise today to introduce important 
legislation aimed at helping some the world's poorest countries along 
their path toward economic development and self-sufficiency. Joining me 
in introducing this bill are my colleagues Senator Feinstein, of 
California; Senator Baucus, of Montana; and Senator Santorum, of 
Pennsylvania. I appreciate their efforts in getting us to this point, 
and I look forward to working with them to see that this legislation is 
enacted into law.
  When President Bush delivered his second inaugural address last week, 
he reaffirmed in absolute terms the commitment of the United States 
toward furthering human dignity around the globe. He drew on the words 
and the beliefs of our forefathers that every life has worth and is 
deserving of the freedom and security of economic independence.
  The bill that I bring here today is aimed at spreading America's 
ideals of economic independence to regions of the world that have seen 
few such successes. My bill, the Tariff Relief Assistance for 
Developing Economies (TRADE) Act of 2005, would extend to some of the 
poorest people of the world the opportunity to work toward a better 
life.
  Specifically, my legislation would provide duty-free and quota-free 
benefits, similar to those afforded under the Africa Growth and 
Opportunity Act, to some of the world's most impoverished nations. The 
countries covered by this legislation are 14 of the least developed 
countries (LDCs), as defined by the United Nations and the U.S. State 
Department, which are not covered by any current U.S. trade preference 
program. They include Afghanistan, East Timor, Maldives, Cambodia, 
Bangladesh, and Nepal. My bill also includes a special emergency trade 
provision to assist Sri Lanka as it struggles through the aftermath of 
the recent tsunami.
  The TRADE Act countries are subject to some of the highest U.S. 
tariffs in the world, averaging over 15 percent. This stands in glaring 
contrast to the nearly negligible tariffs that face our wealthier 
trading partners in Europe and Japan. The TRADE LDCs have been given 
duty-free entry from all other Organization for Economic Cooperation 
and Development countries, and they need our help now.
  In prior years Congress has acted generously toward LDCs in the 
Caribbean and Sub-Saharan Africa. It is now time for us to act in a 
similar fashion to LDCs of the Asia-Pacific region. By allowing duty-
free imports into the United States, we can encourage these countries 
to diversify their economies while creating employment opportunities 
and promoting democracy.
  In supporting these values, we can also help to bring about a safer 
and more peaceful world. Recent history has shown us the violence and 
resentment that can arise when people lose hope and societies 
breakdown. Backward economic policies and repressive regimes offer 
fertile breeding ground for radical and dangerous ideologies.
  In its final report, the 9/11 Commission recommended a U.S. strategy 
to counter terrorism that includes ``economic policies that encourage 
development, more open societies, and opportunities for people to 
improve the lives of their families and enhance prospects for their 
children's future.''
  The bill that I am introducing today can help us meet the goal of 
greater economic development in an increasingly important region of the 
world. The devastation brought by the recent tsunami coupled with the 
end of the textile quota system make this legislation especially timely 
and hasten the need for its passage. I thank you for the opportunity to 
speak here today, and I look forward to working with my colleagues in 
Congress to pass this legislation.
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