[Federal Register Volume 65, Number 30 (Monday, February 14, 2000)]
[Notices]
[Pages 7416-7417]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-3401]


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TRADE DEFICIT REVIEW COMMISSION


Notice of Open Hearing of the U.S. Trade Deficit Review 
Commission

AGENCY: U.S. Trade Deficit Review Commission.

ACTION: Notice of open public hearing.

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SUMMARY: Notice is hereby given of the following hearing of the U.S. 
Trade Deficit Review Commission.
    The Commission is mandated to report to the Congress and the 
President on the causes, consequences, and solutions to the U. S. trade 
deficit. The purpose of this public hearing is to take testimony from 
leading experts in the fields of finance, industry and labor. The 
morning session will focus on the role of financial markets as they 
relate to the sustainability of the trade and current account deficits 
and the possible paths of adjustment the market may impose. The 
afternoon session will

[[Page 7417]]

focus on the importance of U.S. service sector exports, and the 
challenges and obstacles that this sector faces in international 
markets.

Background

    In fulfilling its statutory mission, the Commission is holding 
field hearings to collect input from industry and labor leaders, 
government officials, leading researchers, other informed witnesses, 
and the public. Professor Murray Wiedenbaum of Washington University, 
St. Louis, who is a former chairman of the President's Council of 
Economic Advisors, chairs the Commission. The Vice Chairman is 
Professor Dimitri Papadimitriou, president of the Jerome Levy Economics 
Institute at Bard College, Annandale-on-Hudson, N.Y. The Honorable C. 
Richard D'Amato, Commissioner, will chair the New York hearing.

Purpose of Hearing

    In light of the ongoing massive trade and current account deficits 
incurred by the United States, progress in improving U.S. exporters' 
access to foreign markets is critically important. The failure of the 
WTO Ministerial in Seattle to come up with a negotiating agenda for a 
new round of multilateral trade negotiations highlights how the 
consensus on reducing barriers to trade has fractured. Rebuilding the 
consensus on trade issues in the United States is of critical 
importance in addressing the large U.S. trade deficits. The work of the 
Commission, by analyzing the U.S. trade deficits in a non-partisan 
manner with the input of leading experts, will provide a reasoned and 
informed answer on how to respond to the trade deficit and its 
consequences. The findings of the Commission, while not binding, will 
likely form the basis for Congressional consensus building on trade 
policy as we enter the next century.
    There will be two sessions, one in the morning and one in the 
afternoon, for presentations by invited witnesses on their views on the 
interrelationship between the trade deficit and the topics of the 
hearing. There will be a question and answer period between the 
Commissioners and the witnesses. Public participation is invited and 
there will be an open-mike session for public comment at the conclusion 
of the afternoon session. Sign-up for the open-mike session will take 
place in the afternoon and will be on a first come first served basis. 
Each individual or group making an oral presentation will be limited to 
a total time of 3 minutes. Because of time constraints, parties with 
common interests are encouraged to designate a single speaker to 
represent their views.

DATE AND TIME:  Monday, March 13, 2000, 9 am to 6 pm Eastern Standard 
Time inclusive.

ADDRESSES: The hearing will be held at The Regent Wall Street, site of 
the historic Merchants Exchange, 55 Wall Street, New York, NY 10005. 
Unlimited seating is available for all dignitaries and members of the 
public attending the hearing. Dignitaries should call the USTDRC to 
register.

FOR FURTHER INFORMATION CONTACT: Any member of the public wishing 
further information concerning the hearing or who wishes to submit oral 
or written comments should contact Kathy Michels, Administrative 
Officer for the U.S. Trade Deficit Review Commission, 444 North Capitol 
Street, NW, Suite 706, Washington, DC 20001; phone 202/624-1409; or via 
e-mail at: [email protected].
    Providing oral or written comments: Copies of the draft meeting 
agenda, when available, may be obtained from the U.S. Trade Deficit 
Review Commission by going to the Commission's website at 
www.ustdrc.gov. The Commission requests that written public statements 
submitted for the record be brief and concise and limited to two pages 
in length. Written comments (at least 35 copies) must be received at 
the USTDRC Headquarters Office in Washington, DC by March 6, 2000. 
Comments received too close to the hearing date will normally be 
provided to the Commission Members at its hearing. Written comments may 
be provided up until the time of the hearing.

    Authority: The Trade Deficit Review Commission Act, Pub. L. 
No.105-277, Div. A, section 127, 112 Stat. 2681-547 (1998), 
established the Commission to study the nature, causes and 
consequences of the United States merchandise trade and current 
accounts deficits and report its findings to the President and the 
Congress. By statute, the Commission must hold at least 4 regional 
field hearings and 1 hearing in Washington, DC. This is the fourth 
in a series of field hearings to be conducted. The schedule of 
hearings is available at the US Trade Deficit Review Commission 
website www.ustdrc.gov.

    For the U.S. Trade Deficit Review Commission.

    Dated at Washington, DC, February 8, 2000.
Allan I. Mendelowitz,
Executive Director, U.S. Trade Deficit Review Commission.
[FR Doc. 00-3401 Filed 2-11-00; 8:45 am]
BILLING CODE 6820-46-P