Capitol Journal - Trade - May 22, 1985
DO NOT USE WETA logo, PBS funding credits
Unclean footage - footage contained in window in center of screen, under window runs banner reading Capital Journal. Comments of two unidentified Congressmen on U.S. trade policy.
In tv studio Capital Journal host Hodding Carter introduces show
Capital Journal title screen and animation
In studio Hodding Carter gives back ground on show's topic - international trade
Freight canister being lifted by crane from back of truck onto cargo ship
Graph illustrates trade deficit increase from 1981 to 1985
Busy ship dock, cargo movement from trucks to ships.
Test appears over work in an automobile factory, textile factory and steel industries
Tractor with spinning reaping wheel driving through a farm field
Text over harvesting machines.
Computer microchip fabrication (manufacture, assembly)
Representative Barbara Kennelly (D - Connecticut) speaking on the House floor. In my district and in districts across these United States, the workers, and the factory owners, the people who are alive and well and doing their best for this country, are asking when are we going to get serious about our trade situation. Well Mr. Chairman, let me tell you this bill is deadly serious.
Representative Jack Kemp (R - New York) speaking on the House floor. The sponsors call it a warning shot across the bough of our trading partners, but like every warning shot, it s going to hit somebody. It will miss its target. It s going to hit the American consumer. It s going to hit the American people. It s going to hit the people of the world who care deeply about encouraging trade, not discouraging trade.
Various shots of the House of Representatives.
Image of House bill on foreign trade, on-screen text displays the objectives of the Gephardt Provision which calls for 10% reductions in trade deficits with particular countries.
Representative Richard Gephardt (D - Missouri) explains his provision. It s a market-opening measure. It s not a protectionist measure. It says that if you have a huge surplus with the United States, and we define that mathematically, and if you have a pattern of un-fair trade practices against the United States and other countries, then you re put on what I call the Bad Guy List . If you re on the Bad Guy List it means you ve got to enter negotiations with the President of the United States to try to get that deficit down by 10% a year over the 4 year period.
President Ronald Reagan at a press conference from the Rose Garden outside the White House. Welcome to the White House. I m dismayed at protectionist legislation that is under consideration in the House of Representatives. It isn t a Fair Trade Bill . It s a Less Trade Bill . It will not open markets to US products; it will close them. It will mandate that the US violate many of the most basic rules of international trade. And it will expose our most productive farms and industries to retaliation by other nations.
Representative Richard Gephardt (D - Missouri) I think the President s mind-set is back in the 30s or maybe the 40s. He believes that if we do anything to be tough or aggressive on trade that there ll be retaliation and will have a situation like we had in the 30s where the whole world market closes down. I think he just misperceives the world that we re in today. It s a very different world. The Japanese, the Germans, and others are not about to lose the American marketplace. If we get tough, they will respond. They will open their markets on the basis that we ve opened ours and that s what we ve got to do.