H9732 CONGRESSIONAL RECORD — HOUSE November 29, 2018 These are the numbers just for the back to America. He actually promised There is a new administration taking year of 2016. You can see how big the that in all the towns that have just power in Mexico itself. We need to lis- trade deficit is with Mexico, nearly $70 gotten these pink slips. He said it in ten and work with them. billion and with Canada, $8 billion. Youngstown. He told the people in Any new North American trade Now, that is up fourfold since back in Warren, Michigan, that they never had agreement must raise wages and create the early nineties, before NAFTA was to worry if they voted for him; that a level playing field across the board. passed, when we already had a small they would never have a plant close The American people are not interested trade deficit with those countries, but down. in staged production signing cere- it has just exploded. Well, guess what? General Motors is monies. They want a NAFTA deal that The original NAFTA fueled massive closing down the transmission facility is fixed and that will create good-pay- migration on the Mexican side from in Warren, Michigan. ing jobs in America with benefits you their countryside to our Nation as mil- Thus far, both the trade deficit and can depend upon and heal the economic lions upon millions of small farmers’ the job outsourcing continue to, as the injustices suffered for the past 3 dec- livelihoods were extinguished in Mex- expression goes, go south. These num- ades as people are exploited by institu- ico. Mexico’s white corn industry was bers are going to get much worse for tions more powerful than themselves. decimated. the workers and communities in our And if America is going to be the Why do you think people fled to the country. leader of the free world, she has to be United States? If you were hungry, and And the workers in Mexico, since the leader in free trade agreements you had nothing, and you lived in des- NAFTA’s passage, guess what? Their that are fair and offer the opportunity peration, well, you might do the same. wages are going down. What kind of a of rising living standards for all people, What a humanitarian tragedy has been system is this? not harming people, but helping people. occurring for over a quarter century. Anything short of specifics in this Trade is not just about goods, it is And yet, policymakers in the United redone agreement that will clearly im- about people. We have to put people States and Mexico close their eyes to prove job prospects for Americans will first. We have to put people at the top the human tragedy. fall short of Trump’s promises. of the agenda. We have to put workers Trade with our closest neighbors is Mr. Speaker, this is too important a at the top of the agenda and treat them never simply a zero-sum game. There moment to hang America’s economy on for their true worth, and not any have been lots of losers. In fact, our faulty assumptions. We, in Congress, longer allow trade deals like NAFTA to country’s been a loser. not I, but some in Congress, fell for hollow them out, to hollow their com- Yeah, there are some pockets of NAFTA in 1994. We can’t let it happen munities out, and to hollow America transportation jobs down at the border. again. out. Anybody would expect that. But over- The signing of text tomorrow leaves Mr. Speaker, I yield back the balance all, a net loser. with us a lot of work yet to complete. of my time. And guess what? Under the Trump Let Congress do its job. f administration, the red ink is growing. Has this administration answered the question of whether the job outsourc- BIPARTISAN WORK OF THE In the nearly 3 decades since FINANCIAL SERVICES COMMITTEE NAFTA’s original passage, we have not ing bonanza that has taken hold since The SPEAKER pro tempore. Under even had 1 year of balanced trade ac- NAFTA’s passage in 1994 has truly been the Speaker’s announced policy of Jan- counts, which is the true measure of addressed? It is hard to believe that will be the uary 3, 2017, the gentleman from Texas whether a trade agreement is success- case, given the current news about (Mr. HENSARLING) is recognized for 60 ful or not. So we look at the Trump trade fig- General Motors; and that is not the minutes as the designee of the major- ures here, going across the months, and only company moving jobs out of this ity leader. Mr. HENSARLING. Mr. Speaker, I you look at the red line. Every month country. Have strong labor standards been in- rise tonight on behalf of the Financial the trade deficit grows, including with cluded in NAFTA 2.0 subject to swift Services Committee. Mexico and Canada; not even 1 year of and certain enforcement? No. Mr. Speaker, it has been my great balanced trade accounts, and the num- Will corporate interests retain the privilege to have the responsibility to bers are getting worse. means to outsource American jobs, to chair this committee for the last 6 NAFTA provided vivid evidence of a take advantage of rock-bottom Mexi- years. I take no pride on behalf of my- severely-flawed trade agreement that can wages? Yeah, they will. self, but I take a lot of pride in the failed America’s workers and commu- Will we protect the rights of Ameri- work that has been done on this com- nities as plant after plant shuts down. cans to know what is in the food they mittee. And you know, the sad tragedy is, at are feeding their families, or will trade A lot of that work, Mr. Speaker, has Lordstown, the third shift was gone a facilitation hold priority over food been bipartisan. And I believe, indeed, couple of years ago. But as the second safety? that the Financial Services Committee shift left this week, they were told by Congress has to ask, will Americans is the hardest-working, most produc- the GM officials in the plant, these jobs have access to affordable prescription tive committee in the United States are going to Mexico. drugs made in Mexico, or will the new House. We have produced more bills; we Beyond just the NAFTA deficit, all NAFTA further rig the system to delay have had more bills passed on the floor; our global trade deficits have ballooned access to more affordable and safe ge- we have had more bills signed into law under this administration’s erratic neric drugs and biosimilars? than any other committee. trade and tariff agenda. It makes no Globally, will we work to open closed I am especially proud of the work sense. and controlled markets? that we have done to create more pro- General Motors says that one of the Will we equalize the negative impact growth economic policy throughout reasons they are moving the jobs to of the value-added tax in our trade banking and finance, and the passage Mexico is because of the cost of the agreement? There is nothing in this on of S. 2155, the Economic Growth, Regu- Trump tariffs, and that they have had that. latory Relief and Consumer Protection to pay several billion dollars more for Will tax policy stop favoring out- Act, has meant so much to helping cre- steel that goes into making these vehi- sourcing? No, actually the Trump tax ate more capital to help save our credit cles. bill favored more outsourcing. unions and community banks, and to Well, you know, in this wake, a mod- Democrats look forward to holding really play a part in the unparalleled ern NAFTA agreement to correct all of hearings and oversight of how these economic growth that we see in our the injustices associated with conti- questions will truly impact all of Nation today. I take great pride in that nental trade is long overdue. I have ea- America and America’s workers and work on behalf of all our members. gerly anticipated the release of specific communities. We have called on this text in this NAFTA 2.0 and strategic administration to work with us to b 1930 agenda from the administration on how reach necessary and substantive I also take great pride on behalf of President Trump plans to bring jobs achievements. our Members for a piece of legislation VerDate Sep 11 2014 05:21 Nov 30, 2018 Jkt 089060 PO 00000 Frm 00040 Fmt 4634 Sfmt 0634 E:\CR\FM\K29NO7.092 H29NOPT1 lotter on DSKBCFDHB2PROD with HOUSE November 29, 2018 CONGRESSIONAL RECORD — HOUSE H9733 that modernized the foreign invest- Mr. Speaker, Chairman HENSARLING’s So this bill and our interests are even ment in the U.S. The bill is technically leadership and the quality of person he more secure as a result of the jobs bill known by its acronym, FIRRMA, and it is, he got out in front. He enabled us to that the chairman has advanced for us modernizes a regime that had not been become leaders, he enabled us to learn, today. It does continue to ensure the modernized in quite some time. to give focus, direction on important security against predatory Chinese in- Mr. Speaker, so many of us know we issues relative to the security of this vestments by modernizing our securi- have challenges in America today with country, relative to the economic free- ties laws to reclaim the U.S.