Urges More Aggressive Trade Negotiations to Address Longstanding Trade Imbalances
“I’m Just Tired of Americans Losing”
WASHINGTON — Yesterday, Congressman Vern Buchanan, Vice Chairman of the House Ways and Means Committee, called for more aggressive action to tackle the growing U.S. trade deficit. During a Ways and Means Committee hearing with U.S. Trade Representative Jamieson Greer, Buchanan highlighted the urgent need for comprehensive and fair trade agreements that ensure mutual benefit for the U.S. and its trading partners.
Buchanan addressed the longstanding issue of trade imbalances, pointing out the $1.2 trillion trade deficit and the adverse impact it has on American industries and workers. He emphasized that both parties in Congress have failed to take meaningful action over the past decade to correct this problem, leaving the U.S. at a disadvantage in many critical trade relationships.
Click here or the image above to view Congressman Buchanan’s remarks.
Here’s what Buchanan said about the trade deficit and the need for fair trade:
Buchanan Urges More Aggressive Action on U.S. Trade Deficit
Buchanan stressed that the U.S. cannot maintain unfair trade relationships with major trading partners. He also highlighted the impact on local industries in his district, particularly in agriculture, where local farmers face unfair competition from imports.
Rep. Buchanan: “We always seem like we come up short everywhere, even with our friends like Japan. I like Japan, I do. I’ve done business with Japan ... But you look at the trade deficit: monstrous. You look at the number, you just said $1.2 trillion in terms of the trade deficit. What are we going to do to change it? I look back over 10, 12 years, Congress is dysfunctional as it relates to trade. We’ve done one trade deal ... and in terms of what’s going forward, now there’s this discussion about doing some trade deals. What does that mean? What is that process? ... I’m just tired of Americans losing. ... We’re always coming up short on most of these deals, and I look at our local area in Sarasota, in Florida. In that region, I look at tomatoes and vegetables with a 600% surge [in Mexican imports] … To me, the idea of trade is where, at the end of the day, it’s somewhat fair … A lot of countries in Africa, you know, it’s one thing to try to give them some advantage, but these bigger countries, they’re killing us, and they’ve been doing it on a long-term basis. So as the ambassador moving forward on trade, what’s your thoughts?”
U.S. Trade Representative Ambassador Jamieson Greer: “I think that’s the right way to be thinking about it. The president has stated very clearly over the last few days that he is open to negotiate with countries that actually want to pursue reciprocal trade and get their trade deficit down with us or where we have a surplus, give us the market access that we should have. So we can treat them like they treat us and it’s better treatment all around. … Yesterday, I had a meeting with my counterparts from the EU, from Korea, from Ecuador and Mexico … There are a lot of countries who understand exactly what the problem is that the president has set out and are willing to talk to us and willing to negotiate. And so, I think in the near term, there is an opportunity for these countries, if they want to have more reciprocal trade, to bring down their differential tariffs.”
Rep. Buchanan: “We have to get serious about trade, and at the end of the day, it needs to be fair. It might be a little one way or the other, but if we’re buying their stuff, they need to be buying our stuff, and that’s very clear to me. I just feel so frustrated because I’ve watched this show for 10 years and we get little done. It’s not Democrats or Republicans; it’s both parties. We don’t take the initiative on these fronts.”
Buchanan has been a strong advocate for fair trade and supporting American businesses. The former Chairman of the Trade Subcommittee on Ways and Means, Buchanan helped oversee negotiations for the United States–Mexico–Canada Agreement (USMCA). He recently co-signed a letter to President Trump encouraging him to negotiate new trade agreements that boost American agricultural exports. Buchanan also previously introduced the Defending Domestic Produce Protection Act to help Florida fruit and vegetable growers combat illegal seasonal dumping and Mexico’s unfair trade practices.
