John Danforth: “If we are going to do that, then I would say, Madam President, we do not have any option. Then the Senator from South…”

“If we are going to do that, then I would say, Madam President, we do not have any option. Then the Senator from South Carolina is absolutely correct. If the trade laws are not going to amount to anything, if they are not going to be enforced, if countervailing duties are not going to be useful anymore, if the rest of the world is going to pick off industry after industry by subsidy and we have tied our hands and said that we can no longer proceed with countervailing duty cases because these subsidies have been green lighted, if that is the state of affairs, then either we are going to lose out one industry after another or we were going to get into the subsidy game big time. That is the problem with this trade agreement. It may turn out to be the $2.8 billion is a pittance. It may turn out that to keep up with the Joneses, we are going to have to do much more than this. But let us not be the leaders in this enterprise. Let us not be the world leaders in subsidies. What was said by a memorandum of the Department of Commerce in connection with the trade negotiations is that, if we start green lighting development subsidies, the United States has committed itself to be a leader in subsidies and our Government pressed that change in the subsidies code in the GATT agreement.”