Marcy Kaptur: “over the weekend, here in Washington there was a public relations blitz organized by the administration to tell us and…”

“over the weekend, here in Washington there was a public relations blitz organized by the administration to tell us and the world how United States trade relations with Japan have improved. National Economic Council Chair Laura Tyson went so far as to state we have had a great record of success with the Japanese in the area of trade with our exports increasing by one-third since 1993, and we have seen the trade deficit come down, she said, for the first time in 5 years, so we have a strong record of success. Well, you know, people can twist numbers in amazing ways. If the administration had such a strong record of success, why has the United States trade deficit with Japan worsened during the Clinton watch and become even worse than during the Bush years when the United States trade deficit with Japan reached all-time highs? Look at the facts. During the first 3 years of the Bush administration, the United States trade deficit with Japan reached over $133.5 billion. During the first 3 years of the Clinton administration, our trade deficit with Japan has soared to over $185 billion. That is $50 billion worse, according to my math, and a 39-percent increase. Wishing a problem away certainly will not make it so, and Japan knows it. Our Nation gains nothing by denial. Facts again: During the Bush years, the 4 years, the total trade deficit with Japan reached over $183 billion, an all-time record. President Clinton has racked up that amount in just his first 3 years.”