Senators Rangel and Levin Introduce Trade Enforcement Bill
July 21, 2008House Ways and Means Committee Chairman Charles B. Rangel (D-N.Y.) and Ways and Means Trade Subcommittee Chairman Sander L. Levin (D-Mich.) introduced legislation on July 17 intended to actively open markets by eliminating foreign barriers to U.S. exports, combating counterfeiting and piracy, restore rights under U.S. trade remedy laws, and strengthen the U.S. ability to address unfair and illegal trade practices.
H.R. 6530 aims to increase enforcement of existing international trade laws, thereby increasing U.S. foreign trade benefits. Both Congressmen insist that the United States needs to be more aggressive in matters of international trade.
Chairman Rangel stated, “Our trading partners need to open their markets to U.S. exporters. They need to stop providing trade-distorting subsidies, and to stop dumping their products in our market. They need to protect intellectual property rights, and they need to ensure that their exports to the United States are safe.” He hopes that the Trade Enforcement Act of 2008 will achieve some of these goals.
“For international trade to work for U.S. workers, farmers and businesses, we must be sure that trade is a two way street,” said Chairman Levin. “We need to start enforcing the agreements that have been reached, rather than passively accepting their breach. We need a more assertive approach to the enforcement of our international agreements and trade laws. The Trade Enforcement Act of 2008 is a major step in the right direction.”
The U.S. trade deficit has grown over the last 7 years, reaching over 5% of GDP in 2007. There has also been a decrease in the number of WTO cases filed by the United States to open foreign markets to U.S. goods and services exports.
