Withdrawing Approval of the United States From Agreement Establishing the World Trade Organization

WITHDRAWING APPROVAL OF THE UNITED STATES FROM AGREEMENT ESTABLISHING THE WORLD TRADE ORGANIZATION -- (Extensions of Remarks - June 14, 2005)

SPEECH OF HON. JIM COSTA OF CALIFORNIA
IN THE HOUSE OF REPRESENTATIVES
THURSDAY, JUNE 9, 2005

* Mr. COSTA. Mr. Speaker, I rise to reiterate my reluctant support of Mr. Sanders's effort last week to withdraw the United States from the World Trade Organization. Make no mistake: I fully support global commerce. Almonds, which I grow on my land in Fresno, have become California's most valuable export through development of foreign markets. In fact, more than two-thirds of this $1 billion crop are shipped outside of the United States every year. So, I truly understand the benefit of opening the world to the abundance of U.S. products.

* However, free trade must also be fair trade. Unfortunately, regardless of the diligent work and excellent intentions of our trade negotiators, the bi-lateral and multi-lateral agreements we have entered into are not serving America well, especially the interests of American agriculture.

* The evidence of our trade failures is undeniable. Over the last four years, the U.S. trade deficit has grown exponentially. This year, in spite of the Trade Promotion Authority enjoyed by the President and the plethora of agreements brought before this body, America's trade deficit is the largest it has been in nearly fifty years. More alarming is the fact that this year, though the U.S. dollar is valued well-below most other currencies, our nation will import more goods than it exports.

* For the sake of the American agricultural economy, we must do better. We must make a serious evaluation of the way in which we conduct trade, beginning with the agreements we negotiate. I am reminded of a quote from the distinguished former Ranking Member of the House Agriculture Committee, Charlie Stenholm: ``When you find yourself in a hole, stop digging.''

* In conclusion, my vote today was a vote of protest. I truly hope and fully expect that we will successfully enter and engage in the WTO process. However, I believe it is time for the Administration to acknowledge that all of us who are concerned about American agricultural trade policy are dissatisfied. The ``yea'' vote I cast last Thursday is my message to the Administration and my colleagues in Congress that we absolutely must develop a new trade strategy. And, throughout that deliberation, American agriculture must have a seat at the table.

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