Political Quotes

“while I have the highest respect for the colleagues who are involved and who have expressed these concerns, I would point out to these gentlemen that this insurance issue is not new. The Yasuda/INA venture, which is controlled by a Pennsylvania-based employer, was announced on July 7, 1993, well in advance of the 1994 and 1996 U.S.-Japan trade agreements. Furthermore, by the very terms of those agreements, this venture, which is 90 percent owned by a Pennsylvania company, is permitted to compete in Japan. Indeed, there have been ongoing discussions between Committee on Ways and Means and Committee on Commerce staff with all three interested U.S. companies on this issue for some time now, and the distinguished chairman of the Subcommittee on Trade of the Committee on Ways and Means has asked the GAO to review progress in opening up Japanese markets, including a review of the specific matter. While I recognize that reasonable people can differ, one fact that is not disputed by any of the parties is that one U.S. company controls 80 percent of the Japanese third sector market, another U.S. company controls roughly 10 percent, and the Pennsylvania company controls about 3 percent of the market. For these reasons, I feel strongly that we need to have an objective review. I think the USTR has done that so far, and I strongly support their effort.”