[Weekly Compilation of Presidential Documents Volume 29, Number 28 (Monday, July 19, 1993)]
[Pages 1314-1316]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
The President's Radio Address

 July 10, 1993

    Good morning. This week I've been in Tokyo attending the annual 
summit of the world's seven major industrial nations. This year we 
devoted most of the time to an issue critical to most Americans, how to 
create more jobs and more prosperity.
    In this era, our standard of living is increasingly linked to other 
countries. The more other nations lower their trade barriers, the more 
American firms can export. And the more we export, the more jobs we'll 
create. The more the economies of other nations expand, the more their 
people can buy our products, creating even more American jobs. Our 
exports to other countries account for some 7 million American jobs. And 
most of our job growth over the last decade has come from increases in 
our sales overseas.
    For some weeks, I've been saying that the more we get our own 
economic house in order, the more we can get our trading partners to 
open up their markets and expand their own economies. That was clearly 
true this week. My hand was strengthened in these meetings with other 
world leaders because of everything the American people have been doing: 
calling for change, pushing the Congress to cut the deficit and increase 
investment in American jobs, demanding that we reform our campaign laws, 
our Gov- 

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ernment, and our health care system. In these meetings I was able to say 
to the world's other leaders, ``The American people are willing to make 
some tough choices, and now your nations must do the same thing so that 
together we can get the world's economy growing again.''
    For over 10 years, every time a American President came to one of 
the meetings, the leaders of the other nations of the world said, 
``Before we can straighten out this economy, America has to reduce its 
deficit and invest more in the education and training of its people.'' 
Now we're doing that, and we can ask the other nations to play their 
part as well.
    This has been a good week for the American people. I'm going home 
with some tangible agreements that can make life better for our workers 
and our businesses. Let me give you one example. After years of deadlock 
at these summits over the world trade agreement, we were able to get the 
world's major trading powers to agree on a plan that will dramatically 
lower tariffs on manufactured products. This agreement covers everything 
from paper to chemicals to electronics. For several groups of products, 
including steel, farm equipment, and pharmaceuticals, our agreement will 
eliminate tariffs entirely. This plan could mean the biggest reduction 
in tariffs in history. Now, how does this affect American workers? Well, 
the lower the tariffs, the lower the price on American goods when they 
hit the market in another country. And the lower the price, the more we 
sell and the more jobs we create back home.
    This agreement has added momentum to our efforts to achieve a large 
global trade agreement by the end of the year, an agreement that could 
create hundreds of thousands of export-based American jobs and 
dramatically rebuild the manufacturing sector in America. These jobs 
will be the better, higher paying jobs.
    Agreements like this are a good start to get our economy moving 
again. But there's still a lot of work ahead of us. For example, over 
the next few weeks we still need to get Congress to take the final steps 
to pass the budget and deficit cutting plan. If you haven't said 
anything to your Member of Congress to let them know how you feel, 
please pick up the phone first thing Monday morning and do that. We've 
got to keep bringing our deficit down so we can keep these interest 
rates down and get our economy moving again.
    Meeting with the world's other leaders this week drove home another 
important point. The challenges facing our Nation are also facing most 
other nations as well. Workers in every advanced country are coping with 
increased foreign competition. Communities in every major nation are 
frustrated by stubbornly high rates of unemployment. Overseas, as in the 
U.S., there is a tremendous thirst for political and economic reform so 
people can have more control over their own lives, their jobs, and their 
governments.
    The changes you and I are pursuing in our businesses, in our 
communities, in our Government, are making America stronger. But they're 
also having an impact on other countries in ways we usually don't even 
think about. We're showing people the world over that the challenges of 
this new era can be met. As the American people have done in so many 
other times, we're setting an example, offering hope, and providing 
inspiration. Our country has never shied away from challenges. After 
this week, I am more confident than ever we're going to make the world's 
new economy work for us.
    Before I sign off this morning, I want to say a word about a 
continuing tragedy I've followed closely while I've been overseas: the 
terrible flooding that has hit the Midwest in and near the Mississippi 
River Valley. On Sunday I went to speak with some of the families who 
have been hit by the rising waters in Iowa and Illinois. As someone who 
grew up in farm country, I was stunned by the devastation--houses, 
businesses, farms, in some cases whole communities, all under water.
    I want the people in these communities to know that my thoughts have 
been with them. Before I left the country, I asked Vice President Gore 
to take personal charge to make sure that all the emergency services 
available get to those who need them. I know that people all over 
America have been offering their help and support to these flood-ravaged 
cities and towns. All our prayers are with the people of the Midwest as 
they face the task of rebuilding their communities,

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their farms, and their lives. When hard times hit, the American people 
stand by each other. Even in this new era, I don't think that will ever 
change.
    Thanks for listening.

Note: This address was recorded at 11:55 p.m. on July 9 at the Okura 
Hotel in Tokyo, Japan, for broadcast at 11:06 p.m. on July 10 from 
Seoul, South Korea.