Skip to main content

January 11, 2008: Kaptur Condemns Surging Trade Deficit

January 11, 2008


"The UnitedStates cannot continue to watch as ournation bleeds capital, jobs, and security," Kaptur said. "The small steps ournation is taking are barely enough to slow the bleeding, and not nearly enoughto cure the injury. America needs a new trade policy."

The surge in deficit, blamed on rising oil prices anddecreases in exports, is a symptom of a flawed trade policy, Kaptur added,noting that Congress has yet to consider any legislation that reforms U.S.trade policy.

"With each increase in the US trade deficit Americans losemore freedom: freedom to be independent, freedom to be self sufficient, freedomfrom creditors, freedom of opportunity and of work, freedom to make the most oftheir lives, and their children's futures," Kaptur said.

Kaptur is the sponsor of H.R. 169 which requiresthe President, if in three consecutive calendar years the United States has a trade deficit with another country of $10billion or more, to take the necessary steps to create a trading relationshipthat would eliminate or substantially reduce that trade deficit by enteringinto an agreement with that country. The bill, if passed, would stop the bleeding of jobs, of opportunity, ofoutsourced production, and of borrowed credit.

Congressional leadership has not yet acted on the bill.