Marcy Kaptur: “Congress will soon take up the question of whether or not to renew China's most-favored-nation trade status inside this…”

“Congress will soon take up the question of whether or not to renew China's most-favored-nation trade status inside this marketplace for another year. I am one Member of Congress who will vote ``no,'' as in no more lost U.S. jobs, no more abdication of the U.S. marketplace, no more trade deficits and no more wishful thinking on our trade policy toward China. Every year the American public is told that, if Congress votes to renew China's MFN status just one more year, that our trading relationship with China will improve. Well, it has not. This chart shows over the last 7 years the United States trade deficit with China has increased over 1000 percent, from a deficit of $3 billion in 1988 to over $35 billion last year and projected over $40 billion this year. At this rate China will even pass Japan shortly in racking up the most red ink with this country. China remains a closed authoritarian Communist regime. Why should Congress add more red ink to this ledger?”