the clock is ticking, because on Friday, Prime Minister Hosokawa is scheduled to come to the United States to meet with President Clinton to further discuss the need to open markets in Japan for American-made products. In fact, as we speak, the trade negotiators from the United States and Japan are meeting together trying to establish a final agreement and to set the framework for those talks on Friday. Mr. Speaker, today I want to emphasize the need for us to negotiate a strong trade agreement prior to February 11, this Friday, when those talks begin. Our trade deficit with Japan has been more than $50 billion in 1992, and does not look any more encouraging for 1994. But we can begin by taking a positive step with these agreements being put in place prior to the Friday meeting that is going to take place. The Clinton administration has set a requirement that there be concrete benchmarks for achieving products. I believe our colleagues here in Congress support this effort.
Editor's note · Context
The speaker addresses the urgency of negotiating a trade agreement with Japan before upcoming talks.
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