Kaptur introduces Balancing Trade Act, calls for a trade policy that puts jobs first
Washington, D.C. — Congresswoman Marcy Kaptur (OH-09), today introduced the Balancing Trade Act of 2017, a bill to address our ongoing trade deficits and put our workers first. Kaptur was joined by original cosponsors Rep. Steve Cohen (TN-09), Rep. Tim Ryan (OH-13), Rep. Rick Nolan (MN-08) and Rep. Raul Grijalva (AZ-03).
“Trade deficits translate into lost jobs and lower wages for our workers, like our steel workers that have been battered in Lorain, Ohio. We must stop these trade practices that snuff out our jobs and hurt our communities,” said Kaptur. “This bill requires an actual U.S. policy that takes our trade deficit seriously. I urge President Trump to support this measure as a reasonable step forward. Let us seek trade solutions that lift up workers on all sides of our border.”
Watch Kaptur speak on the House floor regarding the trade deficit, jobs and the Balancing Trade Act here.
Since the mid-1970s the U.S. has amassed trillions in cumulative trade deficits. Economists estimate every $1 billion increase in the U.S. trade deficit translates into a loss of 5,000 jobs.
The Balancing Trade Act would require the President to address our trade deficit by adjusting our policies with those countries that have a large and continuous trade imbalance with America. Specifically, the Administration would be directed to create a concrete plan to address a deficit with any country with which we have a deficit of $10 billion or more for three consecutive years. If the United States has a persistent trade imbalance with a nation, a new trade relationship must be negotiated to end this perpetual imbalance.
Read the bill here: Balancing Trade Act 115th.pdf