So states the balance of payments, sir. They come in under our tariffs, which are already nonexistent. We can't get in under theirs. Under this agreement, they have agreed to bring them down to a reasonably low level and to wipe them out in some cases where they have decided they need American technology and business. They are not doing us any favors.
Patrick Moynihan: “So states the balance of payments, sir. They come in under our tariffs, which are already nonexistent. We can't get in…”
Editor's note · Context
Discussing trade agreements and tariffs during a floor speech.
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