Mr. President I rise to talk about our Nation's flawed approach to trade and its damaging effects on economic growth and job creation. Yesterday, this body approved three trade agreements that will…
Mr. President I rise to talk about our Nation's flawed approach to trade and its damaging effects on economic growth and job creation. Yesterday, this body approved three trade agreements that will do far too little to create manufacturing jobs here in the United States. In fact, it is clear these more-of-the-same agreements will cost manufacturing jobs in Ohio and across the nation.
In towns and cities across Ohio, workers have the proud tradition of manufacturing products that matter to America.
From steel tubes made in Lorain that equip our energy markets, to car parts made in Moraine that move our auto industry forward, Ohio manufacturers represent the heart of our nation's economy.
Ohio manufacturers and workers are some of the most industrious and innovative in the United States.
Our companies and the people who fill our factories can compete across the world--but only if your government implements trade policies that create a level playing field.
However, Republican and Democratic administrations alike, along with Congress, have signed and passed trade agreements premised on hollow promises.
Supporters of free market policies promised that past trade pacts like NAFTA would stimulate growth and create jobs.
Some companies and constituents in Ohio would argue these assertions--and the assurances that accompany current trade agreements--could not be further from the truth.
Once successful companies in my state are now collapsing under the weight of misguided trade policies.
Working families in West Chester, Pickerington, Lima, and Akron are holding on for dear life in the face of our government failing to negotiate and enforce trade deals.
A rational trade agreement should open new markets, include standards on labor and safety that are at least as strong as the commercial provisions, and help U.S. companies expand their consumer base around the world.
However, recent trade pacts have slashed tariffs for foreign competitors while doing little to address the tariff and nontariff barriers that U.S. businesses face with our trading partners. Nothing in these newly approved agreements will change this pattern.
All too often, U.S. trade negotiators have been willing to open our markets to a flood of imports while failing to win the concessions required to make trade work for America.
A quick glance at our Nation's trade statistics makes it clear that we need a new gameplan when it comes to trade.
The U.S. merchandise trade deficit has surged 46 percent over the last decade, reaching an astronomical $634 billion in 2010.
Since the implementation of NAFTA in 1994, the U.S. has lost more than three million manufacturing jobs.
Behind these numbers are the faces of middle-class Americans who have lost their job because of ill-advised trade agreements.
Whether it is the worker getting laid off at a manufacturer providing energy appliances, or the person losing their job at a steel plant, the loss of a job due to trade can be a devastating experience for families across America.
Two examples of our nation giving too much, for too little in return can be seen with the U.S.-Korea free trade agreement.
South Korea has the lowest level of import penetration for auto sales--at just 4.4 percent--of any developed country.
In 2009, the U.S. exported fewer than 6,000 cars to Korea. In the same year, Korea exported 476,000 cars to the U.S.
While a marginal improvement, the U.S.-Korea free trade agreement would allow each American-based automaker to export 25,000 cars to South Korea free of burdensome regulations.
However, it is clear that this ``concession'' does not do enough to shift the imbalanced trade in the auto sector in our direction.
In addition--much like China--South Korea would still be able to manipulate its currency--thwarting the ability of American companies to compete and hire workers.
Instead, South Korea will be able to exploit this trade agreement and make the limited market access we would have meaningless.
It is time that our free trade agreements increase market access to U.S. goods so that we're exporting goods--not jobs.
The American people are demanding a plan to make trade work.
It is time for Congress to meet the demands of the American people and take action to ensure a level playing field for our businesses and workers.
That is why I'm introducing the Reciprocal Market Access Act.
The Reciprocal Market Access Act would require the reduction or elimination of U.S. duties to be reciprocated by the nation with which we are entering into a trade pact.
In the event that a trading partner does not adhere to this requirement, the U.S. Trade Representative would be authorized to withdraw tariff concessions if a trading partner has failed to eliminate relevant tariff and non-tariff barriers.
This requirement will make sure that any type of barrier doesn't put American products at a disadvantage before we open our doors to American goods.
The U.S. should no longer acquiesce to demands to further open our market--already the most open market in the global economy--without gaining meaningful market access for American manufacturers in exchange.
In addition, this bill would instruct the International Trade Commission to assess the impact of a potential trade agreement on opportunities and barriers for U.S. products that will be affected by the trade agreement.
If Congress is committed to creating jobs and reducing the trade deficit, we've got to make sure we have the policies that put us on a level playing field with our trading partners.
If we are serious about standing up for workers, small business and manufacturers who continue to play be the rules, we need to pass this legislation.
It is time to take action to help rebuild the economic foundation of the middle class.
It is time we negotiate trade agreements that put American workers and American businesses first.
It is time to pass this legislation.
Mr. President, I ask unanimous consent that the text of the bill be printed in the Record.