Byron Dorgan: “I don't have a numeric answer to that. But I think it is self- evident that most of the trade deficit we have with China…”

“I don't have a numeric answer to that. But I think it is self- evident that most of the trade deficit we have with China has to do not with fair competition but a manipulation of currency, a refusal to deal with piracy and counterfeiting, a refusal to open their markets. I think that is what it is about. To give you a point of reference, the U.S Trade Ambassador's Office, on April 29 of this year, issued its report. This is our official Government report. It concludes that Chinese piracy was at epidemic levels and that the Chinese had broken promises. Despite the fact the Chinese continued to break promises, piracy of our intellectual properties was at epidemic levels, and two-thirds of the pirated products coming into this country are coming from China, despite that, our Trade Ambassador says it is not ready to file a WTO case against China. Why? Because, instead, we are going to put China on a watch list. Boy, that will teach them. You put somebody on a watch list, and that will strike fear in the hearts of almost anybody. A priority watch list. Here are the deficits with China. Going back to 1996, $39 billion. Go back another 7 years, and we had a balanced trade with China. But it is sinking deeper and deeper into this abyss. Now, all of a sudden we are going to put them on a priority watch list.…”