Byron Dorgan: “We are going to confront, in the coming weeks, the issue of most-favored-nation trading status with China. I was in…”

“We are going to confront, in the coming weeks, the issue of most-favored-nation trading status with China. I was in Beijing a few months ago and met--along with Senator Daschle, the minority leader, and some others, Senator Kempthorne, Senator Glenn, and Senator Leahy--with the President of China. The President of China talked about the trade between the United States and China, and said that they were enjoying this trade relationship. They should. This trade relationship is too much now a one-way relationship between the United States and China. China now has a $40 billion trade surplus with the United States, or, to put it another way, we have a $40 billion merchandise trade deficit with China. It is unforgivable that kind of failure in trade should occur. We have the largest merchandise trade deficit in American history right now. What does that mean? That translates into jobs leaving this country. That is what the merchandise trade deficit means--a weaker manufacturing sector in America and jobs moving overseas.”