Trade
More on Trade
As recent events have demonstrated, the readiness and modernization of the United States’ defense capabilities are as important as ever. Keeping Americans safe and prioritizing American interests must always be a leading goal. Our open borders – paired with ongoing global unrest – not only threaten national security for the United States and our allies, they have serious implications for economic security around the world.
In life and legislative work, a new year brings new opportunities and new undertakings. As we enter 2024 and the second session of the 118th United States Congress, there is much work to do, and I’m optimistic we can achieve results for the American people. Commonsense policies promoting economic growth and productivity in our communities can benefit our country as a whole. With no shortage of obstacles to overcome to curb wasteful spending, deliver tax relief, and manage federal programs, it is time to get to work for the American people.
Washington, D.C. – Rep. Adrian Smith (R-NE), Chairman of the Ways and Means Committee’s Trade Subcommittee, released the following statement after the House Select Committee on Strategic Competition Between the United States and the Chinese Communist Party released their bipartisan report.
Serving on the House Committee on Ways and Means, my work covers a wide range of policy issues. The longest-running committee in Congress, Ways and Means derives its authority over all tax, revenue, and trade matters directly from Article I, Sections VII and VIII of the Constitution, which place jurisdiction for the origin of revenue-raising bills in the House of Representatives and the “Power To lay and collect Taxes, Duties, Imposts and Excises” before the federal legislative branch.
Many farmers are already busy taking in crops as dry conditions have encouraged an early start to the harvest season. Financially speaking, farming is a high-risk venture. The impact of unpredictable weather patterns underscores the importance of doing everything we can to maximize market access and stability for our agriculture industry. Alongside securing sound crop insurance provisions in ongoing Farm Bill renewal discussions, ensuring American trade policy reflects the best interests of our hard-working producers is critical in our pursuit of economic strength.
Over the last month, I’ve had the opportunity to meet with constituents in many of the Third District’s 80 counties. It has been a busy time with many hours spent behind the windshield, and I'm encouraged by the Nebraskans doing so much to help our communities thrive. From farmers and ranchers to entrepreneurs and small businesses to educators and families preparing the next generation, Nebraskans are working hard to support their families, serve their neighbors, and make our state a better place.
Labor Day is an opportunity to acknowledge and show appreciation for the contributions of the American workforce. Unfortunately, American workers don’t have much to celebrate this Labor Day. According to data from the Bureau of Labor Statistics, 1.2 million workers have been unemployed for 27 weeks or more. Some 5.2 million workers across the United States are “not in the labor force who currently want a job.” Real wages have decreased 4 percent since President Biden took office, overall prices are up over 16 percent, and interest rates are soaring.
Gering, Neb. – Rep. Adrian Smith (R-NE), Chairman of the Trade Subcommittee, released the following statement at the conclusion of the 75-day window established by the U.S.-Mexico-Canada Agreement (USMCA) for consultations between the U.S. and Mexico on the issue of biotech corn:
As the third largest economy in the world, Japan is a vital trade partner of the United States, especially agriculture producers in Nebraska’s Third District. According to the Nebraska Department of Agriculture, more than half of Nebraska’s pork exports and more than a quarter of our state’s beef exports were purchased by Japan last year, totaling $156 million and $405 million respectively. Japan is Nebraska’s largest export market for pork and eggs, our second largest market for beef, and our third largest market for corn and overall ag exports.