Jim Costa: “I fully support global commerce. Almonds, which I grow on my land in Fresno, have become one of California's most…”

“I fully support global commerce. Almonds, which I grow on my land in Fresno, have become one of California's most valuable exports through development of foreign markets. In fact, more than two-thirds of this $1 billion a year crop is shipped outside of the United States every year. So, I truly understand the benefit of opening the world to the abundance of U.S. products. Of the producers in my district, some will win and some will lose with CAFTA. I am here to speak on behalf of America's best interest. That interest is a trade policy that is free and, more importantly, fair. Unfortunately, regardless of the diligent work and excellent intentions of our trade negotiators, the bi-lateral and multi-lateral agreements we have entered into are not serving America well, especially not American agriculture, if you use the last 10 years of increasing trade deficit as the standard. The evidence of our trade failures is undeniable. Over the last dozen years, the U.S. trade deficit has grown exponentially from a deficit of $38 billion in 1992 to $668 billion last year, a incredible increase of more than $630 billion in 12 years--more than 1700 percent. This year, in spite of the Trade Promotion Authority enjoyed by the President and the plethora of agreements brought before this body, America's trade deficit is the largest it has been in nearly 50 years.…”