Stabenow Statement on Record U.S. Trade Deficit

Stabenow Statement on Record U.S. Trade Deficit

U.S. Senator Debbie Stabenow (D-MI) today made the following statement regarding the trade deficit numbers released today by the U.S. Census that showed a 17.5 percent increase in the trade deficit to $726 billion:

"In the last year alone, Michigan lost 110,000 manufacturing jobs while the trade deficit in manufactured goods rose by about $60 billion."

"Faced with this growing crisis, the Administration has done nothing but ignore the problem while American manufacturers have suffered and Michigan workers have lost their jobs. Domestically, the Administration has failed to develop a real plan to help the U.S. manufacturing sector; internationally, they have consistently dropped the ball on enforcing U.S. rights under our trade agreements.

"As the numbers released today clearly show, over $200 billion, or more than 25% of the trade deficit, is accounted for only by China, yet the Administration refuses to confront China on its unfair trade practices.

"It is time for the Administration to start fighting for American businesses and workers."

http://www.stabenow.senate.gov/press/2006/021006RecordTradeDeficits.htm