Dingell on Stimulating the Economy through Trade

Statement

Dingell on Stimulating the Economy through Trade

Congressman John D. Dingell (D-MI15) made the following opening statement this morning at the Committee on Energy & Commerce Subcommittee on Commerce, Trade, and Consumer Protection hearing titled "Stimulating the Economy through Trade: Examining the Role of Export Promotion":

"Thank you, Mr. Chairman. I appreciate the opportunity to say a few words about the importance of exports to the National economy. For the sake of time, I wish to confine my remarks to the importance of rebuilding a vibrant manufacturing sector in the United States. In this light, I would observe that in years gone by, the United States was the world's leading exporter of high-quality manufactured goods. According to the World Bank, the United States now ranks 15th for the proportion of manufacturing production its companies export. This is simply unacceptable and requires a combination of policy initiatives to correct, of which export promotion strategies are only one.

"For years, the manufacturing sector has fostered the growth of the middle class in the United States. Thanks, among other things, to this country's lack of a pro-manufacturing agenda, its own short-sighted trade agreements, and unfair practices by our trading partners, we have seen the U.S. trade deficit balloon at an obscene rate and domestic industrial production sink to a dismal level. As a result, millions of Americans, many of whom live in my District, no longer have the option taking a manufacturing job, something which allowed their parents and grandparents to make better lives for themselves.

"In order for there to be tangible value behind any future economic growth, we must do all that is possible to stimulate manufacturing production in the United States. We must fully fund programs like the Manufacturing Extension Partnership and foster public-private research and development projects. One area of potential growth lies in batteries. Currently, there is no U.S. manufacturer capable of both producing high capacity battery cells and assembling them into battery packs. Promoting innovation and helping expand this fledgling domestic industry would allow the United States compete globally with countries such as Japan and Korea, while at the same time creating much needed high-skill, high-wage jobs in this country.

"I applaud your efforts on this matter, Mr. Chairman, and yield back the balance of my time."

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