Darlene Hooley: “Foreign trade has long been a critical component of our economy. So long, in fact, that it predates the founding of our…”

“Foreign trade has long been a critical component of our economy. So long, in fact, that it predates the founding of our Nation. And despite the ups and downs of the local global market, there is absolutely no doubt that the American economy is dependent on trade. Yes, we import far more goods than any other nation; and, yes, we have a trade deficit. I do not like it. No one likes it. But the only way to remedy it is to enhance our export sector. But when we examine the trade deficit, let us remember that we already export more goods and services than any other nation. Those exports represent 10 percent of the United States' GDP; and they support 12 million jobs, including one in five manufacturing jobs. They are not all huge multinational conglomerates like a General Motors. The overwhelming majority, 97 percent, are small- and medium-sized businesses. In Oregon, these businesses and family farms are the backbone of our economy. They provide good paying and rewarding jobs, and it is my goal to make sure that there are a lot more of them.”