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Public Statements

Applying Countervailing Duty Provisions to Non Market Economy Countries

Floor Speech

By:
Date:
Location: Washington, DC

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Mr. PASCRELL. Madam Speaker, as cosponsor of this legislation, I rise in strong support of the bill. I want to thank Chairman Camp and Ranking Member Levin for working together in a bipartisan way to address this issue, and I hope this is the beginning of more bipartisan trade negotiations amongst ourselves. I think it's healthy.

We all know that China uses a variety of mercantilist measures to distort trade with the United States. Illegal subsidies--we must admit we are not playing on a level playing field when they are allowed to subsidize their industry, and we don't choose to do that. Second, forced technology transfers. And, third, currency manipulation.

It is important that our government have every tool at its disposal in order to combat these abuses and others. This legislation will once again allow the application of our countervailing duty laws and the enforcement of existing orders to nonmarket economies like China.

But we must go further if we are going to level this playing field with China in a way that truly benefits American workers and businesses. We need to extend our trade remedy laws to cover currency manipulation, an approach embraced by a large bipartisan majority of this body that could create over a million jobs.

Also, I believe we must embrace and fully fund the President's new Interagency Trade Enforcement Center to focus our resources on leveling the playing field with China. We can't continue to sit on our hands while Chinese businesses undercut American workers and our manufacturing base continues to drift overseas. Let's not stop with the passage of this bill, but continue to move forward on a fair trade policy that places American workers and businesses first.

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