Eliminate Trade Barriers

Floor Speech

ELIMINATE TRADE BARRIERS -- (House of Representatives - July 31, 2007)

Mr. HENSARLING. Mr. Speaker, it is a fundamental freedom of the American people to purchase products in an open, competitive market. International trade is the key to opening more markets for more American consumers. More trade means more competition, and competition means families can buy more using less of their paychecks. More trade also means expanded opportunities for American exporters and job creation.

Many Democrats claim that trade, for some reason, is a bad thing for our economy. They are wrong. The facts show that trade has had a very good impact on our economy. Approximately 12 million, or 10 percent, of all U.S. jobs depend on exports. One in five factory jobs depend on international Federal trade.

Federal Reserve Chairman Ben Bernanke has emphasized that because of increased trade since World War II, U.S. annual incomes have been boosted over $10,000 per household. And if we would just eliminate all remaining trade barriers, U.S. incomes would rise anywhere from $4,000 to $12,000.

We in Congress may have the power, but do we have the right to deny Americans better incomes and better opportunities by preventing them from buying cheaper products overseas? I say "no.''

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