A picture of Representative Marcy Kaptur
Marcy K.
Democrat OH 9

About Rep. Marcy
  • Trade Deficit

    by Representative Marcy Kaptur

    Posted on 2015-12-15

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    KAPTUR asked and was given permission to address the House for 1 minute.) Ms. KAPTUR. Mr. Speaker, I rise to call on my colleagues and the American people to oppose the Trans-Pacific Partnership, the TPP.

    This job-outsourcing trade deal, like every one before it, has been sold to the American people with the false promise of jobs in exports. By looking at America's accounts, you can tell they are all in the red if you take a look at the gaping trade deficits out there and job deficits and the lives of people, how they have been impacted by every single trade deal that has been signed.

    Once again, our global trade deficit grew by more than $40 billion just in October, and it had grown by $1 billion more than the increase from September. Experts estimate that $1 billion invested in this country creates 5,000 additional jobs.

    For every $1 billion of trade deficit we have, we lose 5,000 jobs here. When your trade deficit is half a trillion dollars, it is no wonder we have a job deficit across this country.

    Since China joined the WTO, the U.S. goods trade deficit with China has reached $324.4 billion, hundreds of thousands of jobs gone. The same with NAFTA, $9 trillion in deficit.

    Mr. Speaker, I urge my colleagues to reject the TPP.


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