Congress Should Seek to Balance Trade Deficit Instead of TPA, TPP, Says Kaptur

Congress should focus on rebalancing U.S. trade accounts rather than Trade Promotion Authority and the Trans-Pacific Partnership agreement, said Congresswoman Marcy Kaptur, D-Ohio, on the House floor on Dec. 4. Kaptur introduced legislation, Balancing Trade Act, HR-192 (here), in January that targets balancing the trade deficit (see 13103111). The U.S. international trade deficit in goods and services registered at $40.6 billion in October, said the Census Bureau Dec. 3 in a monthly report (see 13120416). “There is simply no reason to bring up a deal under the fast track procedure which will not permit amendment on this floor -- a deal negotiated in secret by yet another presidential administration,” said Kaptur. “Let’s table the Trans-Pacific Partnership deal. Let’s table fast track and develop a brand-new trade model that benefits the United States of America and its people again so their incomes can rise.