[Congressional Record Volume 163, Number 93 (Tuesday, May 30, 2017)]
[Extensions of Remarks]
[Page E742]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                        THE BALANCING TRADE ACT

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                           HON. MARCY KAPTUR

                                of ohio

                    in the house of representatives

                         Tuesday, May 30, 2017

  Ms. KAPTUR. Mr. Speaker, I rise today to introduce the ``Balancing 
Trade Act,'' an important bill that requires U.S. policy to take the 
trade deficit seriously.
  This legislation provides actionable steps to re-balance our trade 
deficits with countries with which we have a deficit of $10 billion or 
more for three consecutive years. Following the Trump administration's 
recent Executive orders on U.S. trade policy, and recent letter to 
Congress to renegotiate NAFTA, this legislation offers actionable steps 
to the Administration.
  Bad trade deals have contributed to a loss of nearly 4 million 
American jobs and a deficit of $43.6 billion. President Trump promised 
a trade deal that would get Americans back to work and reduce our 
deficit. By prioritizing our worst trade deals, we are ensuring that 
some of these promises are met.
  An old adage reminds us: there are two kinds of failures: ``by those 
who think and don't do, and the other by those who don't think and 
do.'' Our ``free trade'' deals have been a major failure of the second 
order.
  Persistent, massive trade deficits are a drag on the U.S. economy and 
impair job creation. Now more than ever we need a trade policy that 
grows the economy and creates jobs in the United States.

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