U.S. TRADE DEFICIT REVIEW
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| What: | The U.S. Trade Deficit Review Commission will release its final report.
The U.S. Trade Deficit: Causes, Consequences and Recommendations for Action |
| When: | Tuesday, November 14, 2000 at 10:00 am |
| Where: | Room S-207 (Mansfield Room) of the U.S. Capitol |
| Commission Members: |
Wayne D. Angell (Bear Stearns & Co.), George Becker (United Steelworkers of America), C. Richard D'Amato (Maryland House of Delegates), Carla A. Hills (Hills & Co. International Consultants), Anne O. Krueger (Stanford University), Kenneth Lewis, Dimitri B. Papadimitriou - Commission Vice Chairman (Jerome Levy Economics Institute), Donald Rumsfeld, Lester C. Thurow (MIT), Murray Weidenbaum - Commission Chairman (Center for the Study of American Business, Washington University), Michael R. Wessel (Downey McGrath Group), and Robert B. Zoellick |
| Contact: | Kathy Michels (Commission Administrative Officer), 202-624-1409
(kmichels@sso.org) Allan I. Mendelowitz (Commission Executive Director), 202-624-1408 (allanm@sso.org) |
| Statement of Commission Chairman: |
"The U.S. Trade Deficit Review Commission is pleased to announce the forthcoming release of its Congressionally mandated report on November 14th. I believe the report offers a thorough analysis of the trade deficit, its causes and consequences, and provides the President and Congress options for programmatic initiatives that should be given serious consideration. The report includes areas of substantial agreement between the Commissioners, as well as areas of significant disagreement. The Commission reached broad agreement on a number of important matters, in particular, the focus on eliminating trade barriers and opening markets rather than restricting commerce, the need for more effective dislocated worker adjustment programs, and the importance of more and better education and training for America's workers to enable them to participate more fully in the U.S. economy. The fundamental differences in the report between the views of the Republican and Democratic Commissioners stem from differing perspectives on the extent to which we should rely on markets to manage the economy, in contrast to reliance on government intervention. Nevertheless, no either/or choice is presented, but rather differences in emphasis. Indeed, all of the Commission members are united in hoping that our report will contribute to a more informed and vigorous debate on the key issues that surround the trade deficit and the larger role of international commerce in the American economy. The areas of agreement provide options for programmatic initiatives that should be given serious consideration. The areas of disagreement also make an important contribution: the differing views presented in the report should serve to inform the ongoing debate on the importance and consequences of international trade, globalization, and the trade deficit." |
| Murray Weidenbaum Commission Chairman |
