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PSE [Public Safety Equipment]--St. Louis, Missouri 8/27/92 [OA 7579] [2]
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PSE [Public Safety Equipment]--St. Louis, Missouri 8/27/92 [OA 7579] [2]
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George H.W. Bush Presidential Records
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Folder Title:
PSE [Public Safety Equipment]--St. Louis, Missouri 8/27/92 [OA 7579][2]
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26
22
7
4
AUG-26-92 WED 13:32
PUBLIC SAFETY EQUIPMENT,
FAX NO. 3144261337
P.01
PUBLIC SAFETY CODE EQUIPMENT. INC.
D
10986 N. Warson Road
St. Louis, MO 63114-2029
FAX COVER SHEET
Phone (314) 426-2700
Fax (314) 426-1337
PLEASE DELIVER THE
HOLLOWING DOCUMENT TO:
Ed Walters
DATE: 8-26-92
TIME: 1:30
NUMBER OF PAGES TO FOLLOW:
2
THIS TRANSMITTAL FROM:
Tunn Johnson
MESSAGE:
PLEASE CALL (314) 426-2700
IF YOU EXPERIENCE ANY DIFFICULTY WITH THIS TRANSMISSION,
FACSIMILE\NUMBER: (314) 426-1337
AUG-26-92 WED 13:33
PUBLIC SAFETY EQUIPMENT,
FAX NO. 3144261337
P.02
PARKWAY AREA
ADULT BASIC EDUCATION
Serving the school districts of Parkway. Pattonville, Clayton, Ladue,
Brentwood and Maplewood-Richmond Heights
August 26, 1992
Mr. Michael Latta
President, Public Safety Equipment
10986 N, Warson Road
St. Louis, Missouri 63114
Dear Mr. Latta:
Congratulations Smith piece on Channel on the 4 pending was impressive. President Bush visit! The Robin
I in wanted a to be sure that you are aware that you are
of your Education Program that has evaluated and Parkway Area
Adult Basic the current administration. The that is a
special Federally-sponsored project of Workplace Literacy Program participating
grant recipient on in your site 15 the ONLY National Workplace training as of
September employees 14th and is delivering basic skills counseled 125
Federal grant in the state of Missouri. (We Literacy
provide services to the companies amount of such $122,577 as Code as 3.) of July were 1, awarded 1992, to a
Johnson I am enclosing and several brochures describing
and upgrading Dan Grosch are implementing a state of our the program. Tom
feel is the program that 15 in line with what many art authorities training
key to increased American productivity.
Sincerely,
Jane D. Sayder
Jane D. Snyder
CC:
Tom Johnson
Dan Grosch
12657 FEE FEE ROAD CREVE COEUR, MO 63146 (314) 469-8534
AUG-26-92 WED 13:33
PUBLIC SAFETY EQUIPMENT,
FAX NO. 3144261337
P. 03
PSE skill based work system highlights
*
basic skill requirements for all employees are 8th grade reading and 6th grade math
*
math (this is the current requirement to move into a salaried position)
advanced skill requirements for employees are 10th grade reading and 8th grade
*
both today and into the future
these skill requirements are driven by our need to be a world class competitor
*
decision making at the first level of Our organization
without these math and reading skills we will not be able to allow meaningful
*
floor, and first level leaders in July 1992
we used Parkway Area Adult Basic Education to do an assessment of all our shop
*
math requirements for advanced skills, 30% met basic skill requirements, and 20% had
this assessment showed that about 50% of our employees met the reading and
better than we had expected)
reading and math skills below the 8th and 6th grade level (these results were actually
*
who want to improve their reading and math skills
starting September 14, 1992, we will be offering remediation for all our employees
*
at the same time we are implementing a new skill based pay skill that will reward
and basic levels
employees who are successful in increasing their math and reading skills to the advanced
Tom Johnson
314-426-2700 ext 1122
Jacksenville
Trust
/ get are rally
Acceptance
type in trust language
3/4 page color
To Curt:
Commerce
M
Sue Maguire
377-1675
Natasha Moore
June 5,1981 S
3th 3th-10te lite
for Nindmm
us tep
JR
Common
-
of : two
sila sag N/E
general truntin in agpt
jump
JUL-AUG 24 '92 17:47
DEPT OF ECONOMIC DEV
P.3
FOREIGN INVESTMENT IN MISSOURISAP
CANADA
NORANDA ALUMINUM COMPANY - NEW MADRID
1200
EMPLOYEES
POLYTAINERS ** LEE'S SUMMIT - 65 EMPLOYEES
FRANCE
ELF AQUITAINE ASPHALT. INC. ST. LOUIS
190 EMPLOYEES
PHONE POULENC. INC. -, ST. JOSPEH - 40 EMPLOYESS
GERMANY
F.A.G. BEARINGS - JOPLIN - 305 EMPLOYEES
FRU-CON CONSTRUCTION CORP. - BALLWIN - 350 EMPLOYEES
M & W PACKAGING INC. - CAPE GIRARDEAU - 190 EMPLOYEES
MEMC ELECTRONICS - ST. PETERS - 1500 EMPLOYEES
IRELAND
BILLY GOAT INDUSTRIES - LEE'S SUMMIT - 62 EMPLOYEES
JEFFERSON SMURFIT - ST. LOUIS - 4500 EMPLOYEES
JAPAN
BIOKYOWA INC. - CAPE GIRARDEAU' - 86 EMPLOYEES
KAWASAKI MOTORS - MARYVILLE - 115 EMPLOYEES
OPTEC D.D. - MEXICO - EMPLOYEES
SONY CORP. - KANSAS CITY - 73 EMPLOYEES
NETHERLANDS
AMERICAN INGREDIENTS COMPANY - KANSAS CITY - 50 EMPLOYEES
LEVER BROTHERS COMPANY - ST. LOUIS - 600 EMPLOYEES
SWITZERLAND
CONSOLIDATED ALUMINUM CORP. - ST. LOUIS - 60 EMPLOYEES
SUNMARK - ST. LOUIS - 900 EMPLOYEES
UNITED KINGDOM
ATLAS PONDER COMPANY - JOPLIN - 425 EMPLOYEES
D R G PLASTICS - UNION - 180 EMPLOYEES
FASCO INDUSTRIES - OZARK . 2900 EMPLOYEES
TRIMFOOT COMPANY - FARMINGTON - 425 EMPLOYEES
JULAUG 24 792 17:46
DEPT OF ECONOMIC DEV
P.P.1
The
T OF
Missouri
Post-It™ brand fax transmittal memo 7671
# of pages 3
IENT
Tot ED WALTERS
From R. McCLURE
02
Co. WHOUSE RESEARCH
Co.
Advantage
TM
Dept.
Phone # 314/751-3292
Fax # 2021456-6218
Fax #
751-2128
NEWS RELEASE
For Immediate Release
Contact: Dan Barber
March 16th, 1992
314-751-9065
FOREIGN INVESTMENT SUMMARY
(Jefferson city)--The State of Missouri actively seeks
foreign investment from all parts of the world. The Department of
Economic Development has overseas offices in Duesseldorf,
Germany; Tokyo, Japan; Seoul, Korea; and Taipei, Taiwan to assist
in promoting economic growth and job creation in our state.
To date there are 244 foreign companies from 21 countries in
Missouri. These foreign investments amount to an estimated $3.5
billion and employ more than sixty-thousand Missourians. The
major countries investing in our state are Japan, United Kingdom,
Germany and Canada. These four countries account for 62% of the
jobs and approximately 60% of the investments.
The next four major investors are Ireland, The Netherlands,
Switzerland, and France. These four account for another 28% of
the jobs and approximately 15% of the investments.
The state takes several different approaches to attracting
foreign investment. The local office and the overseas offices do
direct mail campaigns and attend international trade shows. The
Department of Economic Development has a joint venture program
that matches Missouri companies with interested foreign
companies. The state also has a number of cooperative agreements
with Japanese banks and securities companies, international
chambers of commerce, and foreign governments.
- more -
JULAUG 24_192_17147
DEPT OF ECONOMIC DEV
P.P.2
Department of Economic Development - add one
The state is open to foreign investment and has no laws or
regulations prohibiting investment. For more information contact
Dan Barber, Public Information Officer at the Missouri Department
of Economic Development (314) 751-9065.
- 30 -
9
government plan. Play-or-pay would quickly lead to most
Americans being in a government-run health plan.
-- According to the cBo, $80 billion in new taxes would be
required to finance play-or-pay.'
o
Clinton also proposes to collect $45 billion over four years
by imposing higher taxes on foreign companies operating in
the U.S.'
-- Contradicting Clinton's accounting, the Democratic-
dominated Joint Committee on Taxation has said that
this tax could generate at most $1 billion, and that
over four years."
-- The tax jeopardizes current and future American jobs by
penalizing foreign firms that want to invest in jobs
here at home. Thus, firms like BMW, which have been
attracted by America's high worker productivity and
hospitable business climate, will likely turn their
backs on creating new jobs in the U.S.
-- In Ohio, for example, 215,000 persons are employed in
industries related to foreign-owned businesses. These
businesses have invested $5 billion in the state and
have created millions of dollars in tax revenue for
communities and school districts."
-- Coming at a time when President Bush is pushing the
Europeans to cut unfair subsidies to their farmers, and
other nations to end barriers to American goods, the
Clinton tax will invite retaliation against American
products and cost more American jobs. One of the IRS's
former top international tax experts described as "just
nuts" the thinking that underlies a Clinton-style
tax.
30
Preliminary CBO estimate of the cost of play-or-pay,
(H.R. 3205, August 2, 1991).
Ed-
31
"Putting People First: A National Economic Strategy,"
June 20, 1992. See Table 2 for tax revenue estimates.
Be sure
32
Joint Committee on Taxation revenue estimate, conveyed
to get
via letter to Senator Pete Domenici, dated July 15, 1992.
copies of
33
"Republican Development Director Criticizes Clinton's
Economics," AP, July 19, 1992.
these
34
Kevin Dolan, former IRS Associate Chief
Counsel/International, quoted in BNA Tax Management
A.
Report on Transfer Pricing, June 10, 1992.
ID:
AUG 24'92
15:58 No. 010 P.02
FOOTNOTE 30 BACKUP
(including next page)
1020 CONGRESS, 20 SESSION
77
HARRY L GUTMAN
CHIEF OF STAFF
SENATE
HOUSE
ALAN J. AVERBACH
DEPUTY CHIEF OF STAFF
LLOYD SENTSEN, TEXAS.
DAN ROSTENKOWEKI, ILLINOIS.
CHAIRMAN
VICE CHAIRMAN
MARY M. SCHMITT
DANIEL PATRICK MOYNIHAN.
SAM CISBONS, FLORIDA
NEW YORK
J.J. PICKI #, TEXAS
Congress of the United States
ASSOCIATE CHIEF OP STAFF
(LAW)
MAX BALICUS, MONTANA
ONLY ARCHER, TEXAS
38 PACKWOOD. OREGON
GUY VANDER JAOT, MICHIGAN
JOINT COMMITTEE ON TAXATION
SERNARD A, SCHMITT
OBERT DOLE, KANSAS
ABSOCIATE CHIEF OF STAFF
1015 LONGWORTH HOUSE OFFICE BUILDING
(REVENLIE ANALYSIS)
WASHINGTON, DC 20515-6453
18
(202) 225-3621
JUL 15 1992
Honorable Pete V. Domenici
Committee on the Budget
United States Senate
Washington, DC 20510-3101
Dear Senator Domenici:
This is in response to your request dated June 30,
1992, for revenue estimates of H.R. 5270, the Foreign
Tax Simplification Act of 1992.
Enclosed is our Table #92-1139 which provides the
estimated effects on Federal revenues for fiscal years
1993 through 1997 on a provision-by-provision basis.
Sincerely,
Harry Harry L Inton L. Gutman
Enclosure
Revenue Effects of H.R. 5270, Foreign Tax Simplification Act of 1992
(Fiscal years, billions of dollars)
1993
1994.
1995
1996
1997
1993-97
Revenue losers (largest to smallest):
Revise application of interest allocation rules
-0.7
-1.2
-1.3
-1.3
-1.4
-5.9
Recharacterization of overall domestic loss
-0.3
-0.4
-0.5
-0.5
-1.6
Repeal limitation on AMT foreign tax credit.
-0.2
-0.3
-0.2
-0.2
-0.2
-1.1
Controlled foreign corporation election
_*
-0.2
-0.2
-0.2
-0.2
-0.7
ID:
Extend period of foreign tax credit canyback/canyover
-0.1
-0.1
-0.1
-0.1
-0.2
-0.5
Modification of certain look-through rules
_*
_*
-*
_*
_*
-0.1
Estate tax marital credit
_*
_*
_*
_*
_*
-0.1
Title V Simplification
_*
_*
_*
_*
_*
-0.1
Regulatory authority for uniform capitalization rules
:
Subtotal, revenue losers
-1.0
-2.1
-2.2
-2.3
-2.5
-10.1
Revenue raisers (largest to smallest):
Treatment of passive income related to foreign oil and gas extraction
income and shipping income
0.3
0.5
0.6
0.6
0.6
2.6
Reduction of Puerto Rico and possessions tax credit
0.2
0.5
0.5
0.6
0.6
2.4
Repeal deferral, election to treat controlled foreign corporations
as domestic corporations
0.6
0.8
0.3
0.1
0.1
1.9
Special section 482 rules for foreign and foreign-owned corporations
0.1
0.2
0.3
0.4
sub
0.5
1.5
Source of income from certain sales of inventory property
0.1
0.3
0.3
0.3
0.4
14
Taxation of certain stock gains of foreign persons
0.1
0.3
0.2
0.2
0.1
0.8
Excise tax on certain premiums paid to certain foreign persons
0.1
0.1
0.1
0.1
0.1
0.5
Limitation on treaty benefits
*
0.1
0.1
0.1
0.1
0.3
AUG 24'92
Treatment of certain grants
*
*
*
*
*
0.1
I
Subtotal, revenue raisers
1.5
2.8
2.4
2.4
2.5
11.5
GRAND TOTALS
0.5
0.7
0.2
0.1
0.0
1.4
CLINTON PROPOSAL
15:59 No.010 P.03
ID:
AUG 24'92
15:59 No. 010 P.04
G7380 r P poloh OH-Ohio Economy-Clinton
J7-19 2:14p
Recublican Development Director Criticizes Clinton's Economics
12
COLUMBUS, Ohio (AP) - Democrat Bill Clinton as president would
raise taxes and strictly regulate small businesses in Ohio, a state
official said.
Ohio Development Director Don Jakeway, a Republican, said
inton's economic plans would hurt Ohio's agriculture-related
businesses and many of its 600 foreign-owned corporations as well.
Jakeway and Columbus Mayor Greg Lashutka, also a Republican,
spokes Saturday at a news conference. Clinton and running-mate Al
Gore are campaigning in the state.
Jakeway said about 215,000 Ohioans are employed in industries
related to foreign-owned businesses. Those corporations have
investments of about $5 billion in the state and create millions of
dollars in tax revenue for communities and school districts.
"That kind of protectionism is not good, " Jakeway said about
Democratic plans to raise taxes for those companies.
But a state Democratic Party spokesman said the Republicans are
feeling desperate.
"They're down 25 percent in the polls," David Duffey said.
Duffey said the only taxes Clinton has spoken about are those
for people with incomes of $200,000 or more.
"They better research their facts a little better, " Duffey
said. "We finally have a presidential candidate who has a plan,
and they're trying to scare people and say it's tax and spend.
"It's not. It's investment to bring jobs back to America.
1 copy - 110g
P/s put Mr
copy Tony C,
budget & Ohio
king Thank
Jeremy- Good fact let's
use in our budget
fact sheet.
Jim
ID:
AUG 24'92
16:00 No 010 P.05
I
BNA
Yes
FOOTNOTE 32 BACKUP
Vol. 1, No. 3
A blweekly update on transfer pricing and related Issues
June 10, 1992
HIGHLIGHTS
IN THIS ISSUE
IRS Officials Discuss Litigation Designation, Competent Authority: A
At The IRS
[p. 59]
company should not expect access to competent authority without
Treasury International Tax
an agreement with the Internal Revenue Service regarding adjust-
Counsel Philip Morrison says the
ments. Assistant Commissioner (International) Regina Deanehan
IRS may not penalize taxpayers
and Director of International Programs Stanley Nevack say. [p. 75]
for transfer pricing valuation
misstatements if they prepare a
Rostenkowski Bill Would Draw Retaliation, Practitioners Say: Legis-
regulatory analysis of their trans.
lation designed to help U.S. business compete globally would
Ter pricing situation and main-
violate treaties and draw retaliation from U.S. trading partners,
tain contemporaneous documen-
practitioners say. [P- 69)
Law Professor Stanley Langbein Boys
tation. [p. 59]
the bill would radically change transfer pricing rules for foreign
firms. and mitigate U.S. taxation of U.S. companies' foreign
In The Courts
[p. 65]
income. (p. 88]
Peter Barnes of General Electric Co. says the
The IRS says Exxon and Tex-
bill's minimum tax formula could produce unfair results. (p. 86]
neo consented to and profited
from the 1979 price restrictions
Chevron Argues Against Designated Summons: Chevron asks an
on Saudi oll and must pay taxes
appeals court to overturn an IRS designated summons, contending
on those earnings. [p. 66]
violations of the Constitution and Congress' intent. IP. 65]
In Congress
[p. 69]
No Matches In Second Round For Apple Arbitrators: Apple Com-
Around The World
[p. 73]
puter Inc. and the IRS again fail to exchange matching names in
The proposed $482 regula-
the second round of nominations for a panel to settle the dispute
tions' comparable profit interval
over the company's Singapore subsidiary. ip. 68]
should be delayed until other
countries accept the method, a
IRS Group Reviewing Availability of §482 Data: An IRS task force
Japanese trade group says.
is investigating the availability of data needed to comply with
[p. 73]
proposed $482 regulations and may recommend legislation to
n The IRS should limit the pro-
resolve data sharing issues, an IRS official says. [p. 59]
posed CPI to clearly abusive
transfer pricing, says an interna-
IRS To Issue Guidance On Currency Fluctuations: The IRS plans a
tional business group. [p. 74]
memorandum on the effect of currency fluctuations on Its transfer
Interview
[p. 75]
pricing decisions, Ernst & Young's Michael Patton says. [p. 60]
Full Text
[p. 80]
Attorney Says Competitiveness Issues Ignored: The IRS' proposal to
Rep. Rostenkowski's HR 5270
change the $482 regulations needs revision to better reflect efforts
$304 proposing a new $482(b)
by U.S. companies to remain competitive globally, says Joel
for inbound transfer pricing is
Williamson, partner at Mayer, Brown & Platt, Chicago. [p. 62)
printed in full. Ip. 80]
Analysis
[p. 06]
Subs Blocked From Claiming Intangible Profits, Economist Says:
U.S.-controlled overseas affiliates may be unable to claim profits
Perspective
[p. 88]
from intangibles, such as manufacturing savings, under proposed
$482 regulations. Arthur D. Little's Irving Plotkin tells a confer-
Journal
[p. 91]
ence. ip. 61).
Directory
[p. 92]
ID:
AUG 24'92
16:01 No 010 P.06
TRANSFER PRICING
enes, international tux counsel for General Electric
plied by an appropriate markup percentage or appro-
and
priate gross profit percentage, the technical explana-
Observations from University of Miami Law
tion said.
School Professor Stanley 1. Langbein on transfer
The document also said the minimum tax provision
icing reform.
is in some ways analogous LU the approach taken In
the Service's proposed $482 regulations In that they
would adopt comparability of net profit us a check on
the reliability of intercompany transfer prices.
Minimum Tax
The tochnical explanation discusses in detail the
difficulty of obtaining information to allow the IRS to
determine a true arm's-length price. Simulating trans-
Section 304 of the bill would add a new subsection
ecilons that the controlled parties would have entered
to $482 that would establish a minimum tax on
into had they not been related, the explanation said,
foreign-owned companies operating in the United
"may require access to significant amounts of Infor-
States whose U.S. grows receipts total either $2 mil-
mation from each of the related parties that might be
lion or more, or 10% or more of the corporation's
considered comparable to the transactions between
overall gross income.
the related parties. In я multinational context it may
According to the Joint Committee on Taxation
be especially difficult for the IRS to obtain the
staff's technical explanation. shifting profits of a for-
desired information from foreign members of the
eign-controlled U.S. company to its parent through
multinational enterprise.
transfer pricing would no longer shelter the income,
"It may also be difficult to obtain adequate infor-
under $304 of the legislation.
mation about comparable or near-comparable trans-
The bill would provide an exception for companies
actions involving unrelated persons," the explanation
that either make advance pricing agreements with the
continued. This information may be proprietary, the
government, or are granted permission to avoid the
congressional staff wrote. and the parties involved
minimum tax after satisfying the Treasury Depart-
may not include the taxpayer. "Even if the IRS could
ment that the intercompany prices yielded a fair result,
use its powers to obtain such information, disclosing it
according to the technical explanation of the bill.
to the taxpayer may constitute a breach of confiden-
The provision would set a floor for the income on
tiality laws," the explanation continued.
which a foreign-owned U.S. company would be taxed.
The floor would be 75% of the average taxable income
Normative Rule Said Unconstitutional
of the company's industry In the United States, as
But Terr said proposed 482(b) would be discrimi-
prescribed by the Treasury Department for the calen-
natory because it would subject companies to a nor-
dar year.
mative rule based on domestic industry averages that
would, by definition, be skewed. "This very clearly
Proposal Labeled 'Draconian'
would impose on the world # system, a formula, that
Leonard Terr of Baker & McKenzie's Washington.
would bear no relation to the results of the companies
D.C., office said he was surprised by the stoephoss of
involved," he stated.
the proposed minimum tax for foreign-owned U.S.
Dolan said the proposal does not make sense because
corporations. Terr, a former Treasury international
it assumes that every business in 2 certain category is
tax counsel, said that the Rostenkowski bill is "far
equally profitable. "That's just nuts," he said.
more draconian" than many In the multinational tax
Robert Mattson, assistant treasurer of Internation-
world had expected.
al Business Machines Corp.. questioned whether Con-
The minimum tax approach is contained in
gress could impose A minimum tax on gross receipts
842(b), the minimum effective investment income
because the Constitution requires that income he
provision for foreign-owned Insurance businesses oper-
carned before there can be taxation.
ating in the United States. he noted. Sec. 842(b) has
Mattson also said the provision "tells the world we're
created controversy because it departs from the arm's-
going to discriminate" between foreign parent compa-
length standard, and so the tax floor proposed in HR
nies and U.S. parents. He said the legislation "clearly
5270 will be considered monumentally controversial,
goes back to the high tariffs of the 1930s" which are
Terr said. (For a discussion of the $342(b) exper-
thought to have contributed to the depression.
lonce, see the Analysis section of this Issue.)
Richard V.L. Cooper of Ernst & Young, Chicago,
The JCT staff said the minimum tax approach does
told Tax Management that the proposed 75% tax
not necessarily depart from the arm's-length standard.
floor 15 "within the ballpark" of the alternative mini-
It is in some ways analogous to applying the resale
mum tax that U.S. parent companies have been pro-
price method or the cost-plus method under Regs.
testing since it was enacted in 1986. What is rancor-
§ 1.482-2(e)(3) and (4), in which gross amounts of the
ous about the proposed $482(b), he said. is that
texpayer's actual irm's-length transactions are multi-
calculations would be based on gross revenue rather
8-10-92
© 1902 TAX Management Inc., . suppliciary of The Burnau of National Anote, inc.
4
What does that mean right here? I'll bring it closer to
Ohio
home. In Missouri, exports are up 37 percent over the last three
years -- $4.5 billion worth of goods shipped to 166 countries on
every continent.
Impressive numbers, but when you get behind the abstractions
of export figures and trade statistics, you find the real benefit
of the new world economy -- in a word, it's jobs. Here in
Missouri, 100,000 jobs are supported by foreign trade. Across
the country, more than 7 million Americans are employed for the
same reason.
That's the way the world works these days. It's a world
where products can be shipped at the speed of sound and
investment money can cross borders at the speed of light.
Everyone recognizes that the world is moving at a faster
pace than ever, but I see something more: it's moving our way.
Right now we're building on the export success of the last three
years. Two weeks ago we entered a new era of open trade. Along
with Mexico and Canada, we initialed the North American Free
Trade Agreement, with the goal of creating one of the largest
free-trade areas in the world -- an integrated economy worth more
than $6 trillion dollars.
Here in Missouri, you already export $2 billion worth of
goods to Mexico and Canada. That's a lot of paychecks, but our
new agreement will make that success look like kid's stuff.
NAFTA is a solid agreement -- when you've been in as many
tough negotiations as I have, you learn to tell the difference.
(Ferguson/Walters)
August 24, 1992
Draft One
STLOUIS
PRESIDENTIAL REMARKS: PUBLIC SAFETY EQUIPMENT, INC.
ST. LOUIS, MISSOURI
AUGUST 24, 1992
9:00 A.M. (??)
Thank you and good morning.
(Acknowledgments, humor)
Together we have seen a world transformed these past three
and a half years -- a world made new by American strength and
resolve. But now that the Cold War is over, the defining
challenge of the '90s is to win the economic competition of the
new global economy -- to win the peace.
Our goal is simple and profound: We must be a military
superpower, an economic superpower and an export superpower.
In this election, you'll hear two versions of how to do
this. My opponents' answer is to look inward, and protect what
we already have from the challenges of this new world. My
approach is to look forward -- to open new markets, prepare our
people to compete, to restore our social fabric -- to save and
invest, so that we can win.
Twenty five years ago, where you're standing was a patch of
bleak, undeveloped real estate. Now look around -- because of
your dreams and hard-work, that patch of ground is a bustling
factory, creating light bars and sirens that help save lives and
keep the peace from Manila to Santiago.
2
There was a time when companies like PSE could be satisfied
with a national market -- sell your goods in the fifty states and
leave it at that.
But you here at PSE know that's no longer good enough. So
five years ago, you took on the world. I'm told that now 35
percent of what you build right here is sold outside our borders,
in 66 different countries. That bold, forward-looking strategy
has helped you weather the uncertainties of the past few years.
PSE's story is a parable for our entire country's economic
future -- never settling for less, always pushing ahead,
embracing the challenges of foreign competition and reshaping
them as opportunities.
Let me offer a personal note -- tell you how I learned about
competing in the world.
I spent a good part of my life out in West Texas, in the oil
business. I painted rigs for a while, even lived out of a
suitcase as a traveling salesman. And all around me in those
days -- the fifties and early sixties -- I saw towns and
businesses bloom from those dusty plains like desert flowers.
Why? The reason was simple: The world wanted what Texas
had to offer -- cotton and cattle and crude.
We understood that the more goods we sold outside our
borders, the more jobs we could create within them.
Later on, when I started my own business, I learned again:
we had to take a global view to compete. I shopped for investors
on the west coast, on the east coast, but I couldn't stop there.
3
I traveled the world -- to Europe and the Far East. Every dollar
we could bring into this country was a dollar that went to expand
our company, create jobs in our community.
I've seen it over and over again: as U.N. ambassador, envoy
to China, and now as president. You learn how important America
is to the world, but you also learn how important the world is to
America -- not just for national security, not just for military
preparedness, but for creating jobs, right here at home.
We've held steady to this vision for three years now, and
with great success. As we knock down trade barriers, American
companies are rushing to meet the demand. Exports are up XXX in
the last five years; America is once again the world's leading
exporter.
What does that mean right here? I'll bring it closer to
home. In Missouri, exports are up 37 percent over the last three
years -- $4.5 billion worth of goods shipped to 166 countries on
every continent.
Impressive numbers, but when you get behind the abstractions
of export figures and trade statistics, you find the real benefit
of the new world economy -- in a word, it's jobs. Here in
Missouri, 100,000 jobs are supported by foreign trade. Across
the country, more than 7 million Americans are employed for the
same reason.
That's the way the world works these days. It's a world
where products can be shipped at the speed of sound and
investment money can cross borders at the speed of light.
4
Everyone recognizes that the world is moving at a faster
pace than ever, but I see something more: it's moving our way.
Right now we're building on the export success of the last three
years. Two weeks ago we entered a new era of open trade. Along
with Mexico and Canada, we initialed the North American Free
Trade Agreement, with the goal of creating one of the largest
free-trade areas in the world -- an integrated economy worth more
than $6 trillion dollars.
Here in Missouri, you already export $2 billion worth of
goods to Mexico and Canada. That's a lot of paychecks, but our
new agreement will make that success look like kid's stuff.
NAFTA is a solid agreement -- when you've been in as many
tough negotiations as I have, you learn to tell the difference.
It will protect the environment, and more important, it will
protect American workers. And more: it will create new jobs for
this generation and the next -- particularly the jobs that
showcase America's high-tech talent.
We're going to take this case to the liberal Democrats on
Capitol Hill, because they need to hear it. A free-trade
agreement isn't a way of dividing up the economic pie, where one
side's loss is another side's gain; it's a way of making the pie
bigger for everyone who participates.
The liberals don't seem to get it. Right now, in fact,
before our initials are even dry on the agreement, the liberals
in Congress -- led by somebody who might be familiar to you,
5.
Congressman Dick Gephardt -- are calling for us to slap a tarriff
on any new trade that comes from NAFTA.
Think about that for a minute -- ((which is a minute longer
than they've thought about it)). After years of tough
negotiations with our two closest trading partners, we've agreed
to end tariffs. The congressional Democrats say: Okay, fine.
But first you have to put on a new tariff.
In other words, the only way they'll agree to reduce tariffs
is if they can raise tariffs.
That's like telling us they want us to hit a homerun, but
please don't hit it out of the park because we don't want to lose
the ball.
This "transaction tax," as they call it, will increase the
cost of goods you want to buy, and discourage the creation of new
jobs for you and your neighbors. It turns the agreement on its
head -- defeats the whole purpose.
Now, I suppose I could ask my opponent to help me out with
his liberal Democrat colleagues on Capitol Hill. Governor
Clinton says he's for free trade "in principle."
But "in practice" may be a different story. Actually, it's
not clear where the governor stands. In front of free-trade
audiences, he boldly defends the benefits of free-trade. When he
finds himself before a protectionist audience, he cites a long
list of reservations about free-trade and says he plans "to
follow Gephardt's lead."
6
The way Governor Clinton wiggles on free trade, I'm not
surprised he compares himself to Elvis.
No matter how much Governor Clinton would like to fudge the
issue, the difference couldn't be clearer -- and the difference
is based on two very different views of America's future. My
opponents see trade barriers falling and they say: Hold
everything. They see new markets for American goods and they
say: Wait a minute. We can't compete. The American worker can't
cut it. So let's pull down the blinds, lock the doors and hope
the world goes away.
Well, let me tell them something you already know. The
American worker doesn't have to hide from anybody. We have the
most productive workforce in the world. Americans can outwork,
out-think, out-compete anybody, anywhere, anytime.
That's something everyone in the world seems to understand -
- everyone but the protectionist Democrats. Over the last
decade, we've seen a flood of foreign investment in the United
States, with businesses from all over the world setting up shop
from Portland, Oregon to Portland, Maine. These investors are
following a simple logic: if you want the best science and
universities in the world, if you want the best workers in the
world, you have to come to the U.S.A.
Now, this investment makes some people uneasy. I understand
that -- particularly when the other side tries to stir up fear
and resentment against foreign capital. I was in Utah not long
ago, and a very articulate woman confronted me on the issue. I
7
told her we probably couldn't see eye to eye on it, but I tried
to tell her why I felt so strongly against the isolationism that
would keep foreign investment out of America.
There was an irony in her timing. I had just returned from
meeting with the heads of the industrialized countries in Munich,
and while I was there I was pleased to team up with Governor
Carroll of South Carolina and the head of BMW to announce a new
BMW plant in South Carolina. That means 10,000 jobs to the
people of that state.
Now, I don't think the 10,000 South Carolinians who get
those jobs are going to argue against foreign investment. One
out of every ten manufacturing workers in the United States works
for a company supported by foreign investment. That's the bottom
line on foreign investment in the U.S.: jobs -- jobs for
Americans, and growth for the American economy.
That's the way the world works in a global economy. Again,
Governor Clinton just doesn't seem to understand. But he's not
wiggling on the issue of foreign investment -- not at all. He's
surveyed the issue and come out foresquare for -- you guessed it
-- a tax increase.
He's proposed to increase taxes on foreign investment in the
United States, each one of those companies that employ a total of
4 and one-half million Americans.
8
Governor Clinton says his new tax will raise $45 billion.
He might want to talk to his own Democrats on Capitol Hill. The
Joint Committee on Taxation says that estimate is about 45 times
too high.
Governor Clinton says his tax increase will "crack down" on
foreign companies, but all it will really do is drive them out.
And if they go, they'll take those jobs with them.
Travel around this state. Go to New Madrid (MA-drid), talk
to the 1200 employees at Noranda Aluminum -- or to Joplin, talk
to the 425 employees of Atlas Powder. Go to any of the 244
foreign-owned companies that employ 60,000 workers right here in
Missour.
If Governor Clinton's tax hike had been in effect these past
few years, few if any of those companies would have located in
the United States --- few if any of those jobs would have been
created for Missourians.
And it's not just Missouri. Whether it's the Nissan plant
in XX Tennessee -- whether it's the XX plant in xx, XX --
Governor Clinton's tax increase would be felt in every region of
every state of this country.
Governor Clinton forgets something about international
relations. If he raises this tax, our foreign competitors are
going to say: "What's good for the goose is good for the gander."
His tax is like a gilded invitation sent to foreign governments
where U.S. companies also do business. And the invititation
reads: "Please retaliate."
9
The result would be not just a reduction in investment here,
but a contraction worldwide. There was another occasion when
that happened. It was in 1930. Right before the great
depression.
No other major industrial nation has the kind of tax
Governor Clinton proposes -- not Germany, not Japan. But I can
tell you one nation that does tax foreign investment as he would
like: India.
Well, here's a promise I am proud to make: As long as I am
president, India will not be a model for how to conduct economic
policy in the United States of America.
So let's review the facts about Governor Clinton's tax: It
won't raise revenue. It won't create a single job. It will
discourage investment. And it threatens to start a trade war at
the very moment when markets the world over are opening up to
American products.
We should ask why, given all this, Governor Clinton would
ever propose such a tax in the first place. I can tell you why.
Today change is accelerating, and change breeds uneasiness,
skepticism, even fear. And by disparaging foreign investment,
Governor Clinton hopes to exploit the darker fears of this
uncertain age -- fear of the future, fear of the unknown, fear of
foreigners.
Well, he should know something: The American people won't
buy it. We're bigger than that. The proudest people on earth
10
have never stooped to fear before, and we're not going to start
now.
In talking about America's future in the global economy, I
mentioned my own experience, because I want you to understand why
I believe what I do about America's ability to compete. Governor
Clinton takes a different view, and it is borne of his life
experience -- a life spent in government.
You see the difference on issue after issue. I understand
that you boost the economy by cutting taxes. I understand that
you cut the deficit by cutting spending. I understand that you
open markets by tearing down barriers -- by sitting down at the
table and hammering out a tough and fair agreement.
So the American people have a clear choice this year. It's
a choice between the patrons of the past and the architects of
the future. I believe we can shape what lies ahead -- not by
turning away from challenges but by doing what you here at PSE
have done. You didn't shrink from challenge, you embraced it.
You didn't shrink from competition, you met it head on. You
didn't retreat from foreign markets, you conquered them.
I have faith in America's future -- because I have faith in
the American people. It's the same faith that brought me out to
Texas more than 40 years ago -- the same faith that brought me
into public life -- the same faith that has led me to fight for
open markets -- because I know that no challenge is too great for
the American heart.
Thank you and God bless you.
4/14/92 WP
ORG. LABOR, CLINT., NAPTA
William H.T. Bush
("Backy")
office
314-727-4555
USA TODAY. WEDNESDAY, AUGUST 26, 1992. 5C
MAJOR LEAGUE BASEBALL
vs.
Last
vs.
Last
EAST
W L Pct. GB Home RHP Grass Night 10 Streak
WEST
W L Pct. GB Home RHP Grass Night 10 Streak
Pittsburgh
71
55
.563
-
38-24
54-29
13-19
51-39
6-4
Won
1
Atlanta
74 49 .602 - 39-23 48-34 57-33 52-35 5-5 Lost 2
Montreal
68 57 .544 2½ 34-31 40-37 20-14 40-40 5-5 Won 1
Cincinnati
70 54 .565 4½ 40-19 48-31 16-18 49-34 6-4 Won 3
Chicago
63 62 .504 7½ 31-27 43-35 45-43 30-33 7-3 Lost 1
San Diego
67
58
.536
8
38-26
45-43
51-41
46-42
4-6
Won
1
St. Louis
60 63 .488 9½ 30-29 36-43 18-18 47-41 7-3 Won 2
San Francisco 59 67 .468 161/2 36-32 34-46 47-49 29-43 4-6 Lost 2
LEAGUE
New York
55 67 .451 14 30-29 36-41 43-46 40-44 3-7 Won 2
Houston
56 69 .448 19 31-28 36-41 13-25 40-49 5-5 Lost 1
Philadelphia 51 73 .411 19 29-35 32-40 12-21 37-49 4-6 Lost 5
Los Angeles 53 73 .421 22½ 34-34 29-40 44-52 35-47 4-6 Lost 1
TUESDAY'S GAMES
BATTING - 2B: Caminiti 2 (22. off Cor-
RESULTS
mier; off Carpenter): Anthony (12, off Cormier):
Cedeno (7. off McClure) 3B: Cedeno (2, off
Cormier) HR: Cedeno (2, 7th inning off Perez 0
7,
Philadelphia
1
(11-12). LP: Mathews (0-3).
homer; has driven in 40 of his 58 RBI at Riverfront.
Expos cruise 6-0,
on. 2 out) 2-out RBI: Anthony, Cedeno 2. RBI,
scoring position, less than 2 outs: Caminiti 0-1,
Bagwell 0-1, Incaviglia 0-1. Candaele 0-2. GDP:
Caminiti
. BASERUNNING - SB: Biggio (32. 2nd
Atlanta
0
base off Worrell/Pagnozzi) CS: Young 2nd
work over Glavine
base by Cormier: 2nd base by Perez/Pagnozzi).
(9-9). LP: Glavine (19-4).
Team LOB: 12.
in August; Glavine is 3-11 lifetime vs. Montreal.
PITCHING
iphrerbb soera
ST. LOUIS
Houston 3 (13 inn.)
Cormier
662202428
By Rod Beaton
(4-4). LP: Boever (3-6).
Perez
231120155
Astro to hit for cycle since Bob Watson in 1977.
USA TODAY
Postseason
DLEIN
Worrell
220021268
McClure
%20001272
Carpenter W.4-4
135 10 0 1 1 328
7,
Chicago
4
ATLANTA - Chris Nabholz
Smith S.33
1100023.02
(1-1).
LP:
glance
HOUSTON
Patterson
(2-3).
was not going to roll over for
Kile
7722 23445
2 HRs; Myers converts 15th save chance in a row.
Tom Glavine. The Montreal
PLAYOFFS
Osuna
0111003.88
Hernandez BS,2
210002223
Expos never do. That combina-
AMERICAN LEAGUE
10, Los Angeles 3
D.Jones
210002212
tion produced a 6-0 win against
Wed., Oct. 7: West at East, 8:35 p.m.
Boever L.3-6
232201278
LP: Martinez (8-11).
Thur., Oct. 8: West at East, 8:35 p.m.
Osuna pitched to 1 batter in 8th.
3rd start in a row; Offerman: ML-leading 36th error.
Atlanta.
Sat., Oct. 10: East at West, 2:35 p.m.
IBB: Bagwell 2. by Worrell; by Carpenter. WP:
Sun., Oct. 11: East at West, 8:05 p.m.
Glavine was trying to be-
D Jones Inherited runners/scored: Hernandez
San Francisco 1
x-Mon., Oct. 12: East at West, 3:05 p.m.
1/1; Carpenter 2/0. Pitches-strikes: Kile 98-55;
come the first in the majors to
x-Wed., Oct. 14: West at East, 3:05 or 8:05
Osuna 3-1; Hernandez 25-13 D.Jones 24-18:
(11-9). LP: Wilson (8-13).
p.m.
Boever 23-16: Cormier 76-50 Perez 43-24;
in 5th of last 6 games; Franco closes for 15th save.
win 20. Nabholz was just trying
-Thur., Oct. 15: West at East, 8:35 p.m.
Worrell 24-16: McClure 8-7; Carpenter 18-13;
to even his record and keep the
NATIONAL LEAGUE
L.Smith 19-13 Ground balls balls: Kile 9-7;
Expos hard on the case of the
Tue., Oct. 6: East at West, 8:35 p.m.
Hernandez 3-2: D.Jones 3-0; Boever 5-1; Cor-
ROBABLE PITCHERS, LINE
Wed. Oct. 7: East at West, 3:05 p.m.
mier 4-8; Perez 2-4; Worrell 1-2; Carpenter 0-3;
first-place Pirates.
Fri., Oct. 9: West at East, 8:35 p.m.
..Smith 1-0.
Career
Sat., Oct. 10: West at East, 8:05 p.m.
GAME DATA- T:4:11 A: 10,434. Indoors
vs.
Nabholz succeeded. Glavine
x-Sun, Oct. 11: West at East, 4:05 p.m
. UMPIRES HP: Runge. 1B: Quick. 2B:
1992 season
opp.
'92 vs. opp.
Last starts
did not.
x-Tua., Oct. 13: East at West, 8:35 p.m.
Bonin 3B: Long
W-L IP ERA W-L W-L IP ERA W-L IP ERA
x-Wed., Oct. 14: East at West, 8:05 p.m.
FRANCISCO, 3:35 ET (Line: S.F. 8-5)
Nabholz (9-9) has been alter-
1-0
11
2.45
1-0
8
0.00
nating wins with losses in per-
WORLD SERIES
By Charles Kelly, AP
Reds
7
11-6
150%
3.58
1-3
0-2
5½
11.81
3-0
22½
2.42
fect cadence — win, lose, win,
Sat, Oct. 17: AL at NL, 8:35 p.m.
NOT TONIGHT: Braves ace Tom Glavine, seeking win No. 20,
CINCINNATI, 7:35 ET (Line: Cin. 71/2-5)
lose, etc. - over his last 11 de-
Sun., Oct. 18: AL at NL. 8:35 p.m.
takes timeout with catcher Greg Olson. He left in fifth, down 5-0.
Phillies
......
1
1-1 24Vs 5.18 0-2
0-1
12½
7.30
Tue., Oct. 20: NL at AL, 8:35 p.m.
1-2 35 5.40 0-0 0-0 1 18.00 0-1 1535 7.47
cisions. This was his turn to
Wed., Oct 21: NL at AL, 8:35 p.m.
BATTING 2B: Van Siyke (33, off Mar-
win, buttressed by Montreal's
-Thur., Oct. 22: NL at AL, 8:35 p.m.
CINCINNATI Tim
LANTA, 7:40 ET (Line: Atl. 8½5)
178%
2.62
7-3
x-Sat., Oct. 24: AL at NL. 8:35 p.m.
tinez). HR: Van Styke (11, 7th inning off Wilson, 1
A GAME DATA - T:3:02 A: 19,546. Temp:
13-10
23
0.78
on 2 out). 2-out RBI: Lind, Van Slyke 2. Bell 2.
58. Wind: 25 mph, left to right.
2-0
2-0
24
0.75
Belcher pitched eight shutout
quick start (4-0 lead after
x-Sun., Oct. 25: AL at NL, 8:35 p.m.
RBI, scoring position, less than 2 outs: Van
. UMPIRES HP: Hohn 18: Pulli 2B:
10-8 18245 2.91 0-3 0-1 15 2.40 1-1 201/5 4.43
three) and relief from Mel Ro-
All times ET; x-if necessary
Siyke 2-2, Bonds 1-2, Slaught 2-4, Wehner 0-1,
Danley. 3B: Davidson
innings before fading in the
STON, 8:35 ET (Line: St. L. 6-5)
Lind 0-1. Jackson 0-1. S: Ball. SF: Siaught. GDP:
ninth and Barry Larkin and
13-5
186
2.03
2-1
1-0
15
1.80
2-1
22½
2.82
4-9
jas.
Wehner
144%
4.11
0-1
0-1
71/2
3.68
1-2
20%
3.05
Cardinals
5
Glavine lost for the first time
. BASERUNNING - Cole (7. 2nd base
Joe Oliver homered, leading
DIEGO, 10:05 ET (Line: S.D. 6-5)
Montreal 022 010 010-6
off R.Martinez/Hernandez); Bonds (28, 2nd
the Cincinnati Reds to a 7-1 vic-
15-9
209
2.15
9-5
1-1
17
1.59
1-0
25%
1.40
since the Expos beat him
Atlanta
000 000 000-0
base off R Martinez/Hernandez) CS: .Cole (3,
Astros
3
12-8
1511/2
3.69
2nd base by Crews/Hernandez) Team LOB: 6.
tory against Philadelphia.
2-6
-
-
0-1
201/2
3.98
May 22 on Felipe Alou's first
MONTREAL
abrhi
to avg
. FIELDING Lind (6, ground ball). PB:
Larkin hit a two-run homer
ANGELES, 10:35 ET (Line: L.A. 6-5)
1-1
23
3.52
day as manager.
DeShields, 2b
4022
0
306
Slaught. DP: 2.
HOUSTON In their first
3-1
40
2.48
Owen. ss
5011101266
LOS ANGELES
ab
h
to bb so avg
game at the Astrodome after a
in the first inning and Oliver hit
9-10
14745
3.11
0-2
0-2
12
3.75
1-2
1235
5.68
"Tommy has not had a night
Grissom, of
4000411273
like this for a long time," said
Alou,
4110411-275
Offerman, ss
5130101266
a three-run homer in the fifth
statistics: Ellas Sports Bureau. Line by Danny Sheridan.
Wallach, 3b
5221000234
of
3010420317
month-long road trip, the Hous-
Inc.
Braves manager Bobby Cox.
Carter,
4110211215
3001000-191
ton Astros had two runners
off Greg Mathews (0-3) as the
Young, 2b
Colbrunn, 1b
322200037
Harris, ph-2b
1000200278
Reds won their third consecu-
Montreal second baseman
Foley, 1b
Davis, ph
0000010.236
thrown out at the plate in extra
1000001.186
rt
4000502.179
Karros, 1b
5011700259
RESULT, UPCOMING GAMES
Delino DeShields explained
innings and, even with Andujar
tive game. The Phillies have
Nabholz,
3010011111
Webster, rt
3001010.249
Glavine was not in command
Rojas P
0000000.063
3010301303
Cedeno hitting for the cycle,
lost their last five games.
Sharperson, 3b
Thursday
Friday
Wilson, p
because he had no command.
Totals
37 610 6
16 5 9
lost to St. Louis 5-3 in 13 in-
HOW THEY SCORED
Goodwin, ph
1010000250
Pit. at S.D., 4:05
S.F. at Chi., 3:20
"He had his good stuff, but he
BATTING - 2B: Alou (21, off Glavine). 38:
McDowell,
D
0000000.000
nings.
Reds 1st Roberts singled to center. Sanders
Wallach (1, off Glavine). 2-out RBI: Colbrunn,
Benzinger, if
4000200234
flied out to left. Roberts stole second Larkin
Mon. at Atl., 7:40
Cin. at N.Y. (2), 5:10
didn't have his best control."
Owen, DeShields. RBI, scoring position, less
Hernandez,
C
4110201272
The last major leaguer to hit
homered to center. Roberts and Larkin scored
St. L. at Hou., 8:35
Atl. at Phi., 7:35
The Expos know something
than 2 outs: DeShields 1-1, Owen 0-1, Wallach
R Martinez, p
0000000.120
for the cycle was Ray Lank-
Coles grounded out to shortstop. Braggs struck
Only games
Mon. at Hou., 8:35
1-1, Carter 0-1, Colbrunn 1-1, Reed 0-1. SF:
Crews, p
1000001.200
out Reds 2, Phillies 0.
no one in the NL has really
Colbrunn
L.A. at St. L, 8:35
Hansen, ph-3b
2110010217
ford of the Cardinals Sept. 15,
Reds 3rd: Roberts grounded out to shortstop.
BASERUNNING - Team LOB: 10.
Only games
known for two seasons how
Totals
35
21
1991.
Sanders popped out to first Larkin walked
. FIELDING DP:3
Coles singled to right, Larkin to third Martinez
to beat Glavine. They are 5-2
. BATTING RBI, scoring position, less
ATLANTA
doubled to center. Larkin scored, Coles to third,
ab
to avg
than 2 outs: Butler 0-2. Young 1-3, Harris 0-1,
HOW THEY SCORED
and out advancing, center fielder to third to
against him in the last two sea-
Nixon cf
4010
200317
Karros 1-2, Webster 1-2. GDP: Sharperson.
Blauser ss
1000030.243
Astros 2nd: Bagwell flied out to center Inca-
catcher. Reda 3, Phillies 0.
. BASERUNNING Team LOB: 10.
Pendieton, 3b
4020400306
viglia grounded out to first. Anthony singled to
Reds 5th: Roberts singled to center Sanders
LUMN, TEAM NOTES, 3C; NL STATS, BEAT, 6C
sons, 11-3 over Glavine's ca-
. FIELDING E: Offerman 2 (36, ground
Treadway,
0000000.229
right Cedeno tripled to right, Anthony scored.
grounded to shortstop, Roberts forced out at
reer.
ball; throw); Benzinger (1, 3-base fly); R.Mar-
Servais flied out to center Astros 1, Cardinals 0.
second, Sanders safe at first Larkin grounded
Gant.
4000301251
tinez (2, throw). DP:
4010002257
Astros 4th: Caminiti doubled to center Bag-
out to third, Sanders to second Neill singled
His ERA vs. Montreal is 5.87
Justice, n
PITCHING
Hunter, 1b
3010100242
, or bb 80 era
well lined out to right. incaviglia flied out to left.
to right, Sanders scored Martinez singled to
this year, 4.92 lifetime. He is
PITTSBURGH
Anthony doubled down the right field line, Ca-
right, O'Neill to second Oliver homered down
McGriff
Bream, ph
0000010.270
Olson
Jackson
18-1 with a 2.01 ERA against
2000100237
4½
3.94
miniti scored Cadeno popped out to right.
the left field line, O'Neill, Martinez and Oliver
St. Claire
0000000
Cox W,3-2
34 3000 2470
Autros 2, Cardinals 0.
scored Morris flied to left Reds 7. Phillies 0.
Certinale 5th Gilkey singled
Phillies 9th: Knik singled to second Castillo
08-24-92 04:15PM FROM SBC-MINORITY STAFF
TO 94566218
P001/003
UNITED STATES SENATE
Committee on the Budget
TELECOPIER DATA SHEET
TO: Person receiving: Ed Walters
Organization:
Receiving person's telephone number:
From: Person sending: Denise Ramoves
Sender's telephone number:
Our telecopier number is: 202-224-1891
Date
8/24
Time
4:10
Number of pages: 8/2 2
Receiving person's telecopier number:
Name or description of document:
08-24-92 04:15PM
FROM SBC-MINORITY STAFF
TO 94566218
P002/003
1920 CONGRESS, 20 SESSION
HARRY L. OUTMAN
CHIEF OF STAFF
SENATE
HOUSE
ALAN 4 AUERBACH
LLOYD BENTSEN, TEXAS.
DAN ROSTENKOWSKI, ILLINOIS.
DEPUTY CHIEF OF STAFF
CHAINMAN
VICE CHAIRMAN
OANIEL PATRICK MOYNIHAN,
5AM GIBBONS. FLORIDA
MARY M. SCHMITT
NEW YORK
J.J. PICKLE, TEXAS
*MAX BAUCUS. MONTANA
Congress of the United States
ASSOCIATE CHIEF OF STAPF
BILL ARCHER, TEXAS
(LAW)
18 PACKWOOD. OREGON
GUY VANDER JAGT. MICHIGAN
>REAT COLE, KANSAS
JOINT COMMITTEE ON TAXATION
RERNARD A. SCHMITT
ASSOCIATE CHIEF OF STAFF
1015 LONGWORTH HOUSE OFFICE BUILDING
(REVENUE ANALYSIS)
WASHINGTON, DC 20515-8453
(202) 225-3821
JUL 15 1992
Honorable Pete V. Domenici
Committee on the Budget
United States Senate
Washington, DC 20510-3101
Dear Senator Domenici:
This is in response to your request dated June 30,
1992, for revenue estimates of H.R. 5270, the Foreign
Tax Simplification Act of 1992.
Enclosed is our Table #92-1139 which provides the
estimated effects on Federal revenues for fiscal years
1993 through 1997 on a provision-by-provision basis.
Sincerely,
Harry Harry L Inton L. Gutman
Enclosure
Revenue Effects of H.R. 5270, Foreign Tax Simplification Act of 1992
(Fiscal years, billions of dollars)
1993
1994
1995
1996
1997
1993-97
P003/003
Revenue losers (largest to smallest):
Revise application of interest allocation rules
-0.7
-1.2
-1.3
-1,3
-1.4
-5.9
Recharacterization of overall domestic loss
--
-0.3
-0.4
-0,5
-0.5
-1.6
Repeal limitation on AMT foreign tax credit
-0.2
-0.3
-0.2
-0.2
-0.2
-1.1
Controlled foreign corporation election
_*
-0.2
-0.2
-0.2
-0.2
-0.7
Extend period of foreign tax credit carryback/carryover.
-0.1
-0.1
-0.1
-0.1
-0.2
-0.5
Modification of certain look-through rules
_*
_*
_*
_*
-*
-0.1
Estate tax marital credit
_*
_*
_#
-*
_*
-0.1
Title V Simplification
_*
_*
_*
_*
_*
-0.1
Regulatory authority for uniform capitalization rules
:
--
--
Subtotal, revenue losers
-1.0
-2.1
TO 94566218
-2.2
-2.3
-2.5
-10.1
Revenue raisers (largest to smallest):
Treatment of passive income related to foreign oil and gas extraction
income and shipping income
0.3
0.5
0.6
0.6
0.6
2.6
Reduction of Puerto Rico and possessions tax credit
0.2
0.5
0.5
0.6
0.6
2.4
Repeal deferral, election to treat controlled foreign corporations
as domestic corporations
0.6
0.8
0.3
0.1
0.1
1.9
Special section 482 rules for foreign and foreign-owned corporations
0.1
0.2
0.3
0.4
0.5
1.5
FROM SBC-MINORITY STAFF
Source of income from cenain sales of inventory property
0.1
0.3
0.3
0.3
0.4
1.4
Taxation of certain stock gains of foreign persons
0.1
0.3
0.2
0.2
0.1
0.8
Excise tax on certain premiums paid to certain foreign persons
0.1
0.1
0.1
0.1
0.1
0.5
Limitation on treaty benefits
*
0.1
0.1
0.1
0.1
0.3
Treatment of certain grants
*
*
*
*
*
0.1
-
-
I
Subtotal, revenue raisers
1.5
2.8
2.4
2.4
2.5
11.5
GRAND TOTALS
0.5
0.7
0.2
0.1
0.0
1.4
08-24-92 04:15PM
CLINTON PROPOSAL
AUG 24 '92 08:48
P.1
STATE OF MISSOURI
FACSIMILE TRANSMITTAL SHEET
DATE 8-24-92
TO red Walters
FROM Volanda Murphy
FAX NUMBER
FAX NUMBER
RE
SPECIAL INSTRUCTIONS/REMARKS
Ed- Here's the stuff Dor
recognized 12 export Companies on
his Export Toren Oct month
ANY PROBLEMS WITH TRANSMITTAL, CALL 314-751-3222
TOTAL NUMBER OF PAGES (INCLUDING TRANSMITTAL SHEET)
9
MO 999-8012 (12-80)
AUG 24 '92 08:48
P.2
PUBLIC SAFETY EQUIPMENT
Public Safety Equipment is a privately owned firm located at
10986 N Warson Road in St. Louis, Missouri. Mike Latta is
President of the company, Ed Ryan is Executive Vice-President.
The phone number is 314-426-2700. The Fax is 314-426-1337.
Governor Ashcroft recently honored Public Safety during a
statewide tour highlighting Missouri's export successes, During
the last three years, exports from Missouri have increased 37% -
more than 1600 Missouri businesses exported a combined $4.5
billion in products, services and goods to 166 countries in 1991.
Missouri exports support an estimated 100,000 jobs in the state.
Public Safety Equipment's 200 employees are literally lighting up
the world with police sirens, light bars, and other warning
devices used by police and fire departments in 48 countries. The
company's exports have grown from 15% to 35% over the last five
years.
The company builds most equipment to order, allowing employees to
define their work flow and work with end users - often highway
patrols -- to meet changing needs and design improved products.
Public Safety Equipment has been assisted by Missouri's export
business development office. "We've participated in international
meetings, catalog shows, etc.," said Ed Ryan, vice president of
marketing. " The state office in Tokyo also has helped us in
locating distributors on the Pacific rim."
The state of Missouri has international trade offices in Germany,
Japan, Korea and Taiwan. The state will soon open a fifth
international trade office in Mexico.
Public Safety is a very employee oriented firm and the plant is
very clean and colorful providing many visual opportunities.
Public Safety Equipment was very appreciative of the Governor's
recent visit and the company went out of its way to include its
employees and local community leaders in what was a very
successful and enjoyable stop on the "Exports for Success" tour.
AUG 24 '92 08:49
P.3
PUBLIC SAFETY EQUIPMENT, 7/22/92, ST. LOUIS
I'm pleased to be in St. Louis today to focus attention on a
local company that is excelling in the international
marketplace. Missourians are grateful to Mr. Michael
Latta and the hard-working employees here at Public
Safety Equipment who are supplying world-class products
to nations all around the globe.
Exporting is no longer the province of large companies in
major port cities. The world market is fast becoming the
new frontier for small- to medium-sized firms in Missouri.
Businesses across the state are adding jobs, breaking
ground for additional plant space and purchasing new
equipment to keep pace with fast-growing export sales. In
many cases, international sales allowed these companies
to continue growing during the recession,
and now with
the U.S. recovery, they're looking to expand and hire.
During the last four years, exports from Missouri have
increased 31 percent -- more than sixteen hundred
Missouri businesses exported a combined $4.5 (b) billion
in products, services, and goods to 166 countries in 1991.
Missouri exports support an estimated 100,000 jobs in the
state.
1
AUG 24 '92 08:49
P.4
The state of Missouri, through the Department of
Economic Development, is assisting the sixteen hundred
exporters in Missouri and actively seeking out the
unlimited number of firms with export potential that is not
yet being realized.
World Trade magazine recently recognized the work and
dedication of the state's export development staff. The
article says Missouri runs a top-notch economic
development program for companies that want to expand
their business overseas.
The state has trade development offices in Kansas City,
Jefferson City, and St. Louis. Missouri also has offices and
very capable staff in Duesseldorf, Germany; Tokyo, Japan;
Seoul, Korea; and Taipei, Taiwan. We soon will be
opening a new trade office in Mexico.
During this two-day salute to companies exporting for
success, we will visit and honor 12 Missouri businesses. I
commend the Hawthorn Foundation for sponsoring this
tour. Hawthorn Vice-chairman Al Fleischer Sr. is here with
us today. Al, thank you for the opportunity to honor this
deserving company and to raise awareness about the
importance of exporting.
2
AUG 24 '92 08:50
P.5
It is a pleasure to meet the people here at Public Safety
Equipment who literally are lighting up the world with
these Missouri-made products.
Five years ago, Public Safety made a commitment to the
export business, and today, the company's exports
account for about 35 percent of its total annual sales.
Public Safety's sirens, light bars and other warning devices
clear the way for police and fire vehicles in at least 48
countries. I am pleased the state's export development
staff has been able to assist Public Safety with locating
sales leads and international distributors.
On behalf of all Missourians, I commend Mr. Michael
Latta and the dedicated employees of Public Safety for
excellence in exporting, becoming a worldwide innovator
and leader in the field of emergency warning equipment.
(PRESENT AWARD)
Thank you and may God richly bless you with a productive
and profitable-future here in St. Louis.
3
08/24/92 13:15
4261337
PUBLIC SAFETY
001/003
PUBLIC SAFETY CODE 3 EQUIPMENT, INC.
10986 N. Warson Road
St. Louis, MO 63114-2029
Phone (314) 426-2700
FAX COVER SHEET
Fax (314) 426-1337
FOLLOWING PLEASE DELIVER DOCUMENT THE TO: Ed WALTERSED
202
DATE:
TIME: EULUPMENT 62133 INC:
NUMBER OF PAGES TO FOLLOW:
THIS TRANSMITTAL FROM:
20
MESSAGE:
Ed
Cau ME AND I'LL ge
QUER WITH you.
Sd Ryn
IF YOU EXPERIENCE ANY DIFFICULTY WITH THIS TRANSMISSION,
PLEASE CALL (314) 426-2700
FACSIMILE NUMBER: (314) 426-1337
08/24/92
13:15
4261337
PUBLIC SAFETY
002/003
THE CODE 30 STORY
Public Safety Equipment was formed in 1974 in St. Louis, Missouri. The
company's first product, its Model 2200 light bar, was square in shape, not
very aerodynamic, and used sealed beam rotating lamps, but at that time
was the most effective light bar on the market. In 1975, Code 3 was
developed as the company's trademark. Since that time, Code 3 has come to
represent the finest manufactured emergency warning devices in the world
today.
The company started in a small, 15,000 sq. ft., building located in St. Louis
County that it shared with another company which manufactured preschool
educational toys. Code 3 was very successful in introducing new products
and being an innovator in the marketplace. By 1979, the company
introduced its first electronic siren. Also, in 1979, a radically new light bar
series was introduced, the XL. This was an innovation because the XL light
bar was very aerodynamic and, many thousands of these light bars have been
sold all across the world. The XL remains a very popular light bar today,
especially well suited to larger vehicles.
Code 3's strong growth created a lack of space for the production of
emergency warning equipment, so in 1980 the company moved to new
quarters in St. Louis.
Another major innovation came in 1982 with the creation of the Force 400
drive train for all of our light bar styles. The Force 4 drive train was a major
breakthrough in light bar development because it allowed an independent
motor to operate each rotating device. It also improved the optical
performance of the light emitted from the light bar and actually reduced the
price to the customer for the product. It also gave customers around the
world a great deal of flexibility to design light bars for their own specific
needs; as the customer could very easily position alley lights, takedown
lights, spotlights, mirrors, special rotating devices, and rotators.
In 1983, the company introduced the LP light bar which has become a
tremendous success and sells all over the world. LP stands for "low profile"
and is an incredibly aerodynamic light bar. Police fleets are able to use this
light bar and have 98% clean roof efficiency. This allows the fleet to have an
extremely good- looking light bar that allows both high top end speeds and
great fuel economy. Code 3 also introduced two new electronic siren systems
in 1983.
By December 1984, the company's office space was inadequate, so the
company moved its office location. By 1985, the production space was not
adequate, SO the company moved its production facility to a 43,000 sq. ft.,
building to ease the growing pains. In 1985, Code 3 introduced The Vehicle
Control System and the LP6100 beacon. In 1986, Code 3 was restructured
and put in the position to become the dominant producer of emergency
warning equipment in the world. Since 1986, the company has introduced
the all light XL and the all light LP for those departments that don't need a
speaker in the light bar. Code 3 has introduced the V-Con® siren family
08/24/92
13:16
4261337
PUBLIC SAFETY
003/003
which allows the customer to have a one piece siren which has multiple
switching functions for control of the vehicle's switching needs. The
DashLaser" was introduced in 1987 and is a tremendous success for
individuals and undercover officers who need warning protection in their
vehicles. In 1988, Code 3 introduced the ArrowStik™ that directs
approaching traffic to safe areas behind emergency equipment. The
equipment. ArrowStik™ has a wide application of usages from police cars to construction
In 1989, Code 3 came out with the new V-Con® MC remote siren system
which utilizes fiber optics to send siren signals to the amplifier from the
control head. Code 3 also introduced its new MX light bar which is truly a
revolutionary light bar design. This product has two full levels of warning, a
top and a bottom, that allows the customer unrestricted flexibility for their
lighting needs. The customer also has the option to install intersection lights
in the MX for extra warning protection in dangerous intersection areas. In
addition to these features, the MX can incorporate an ArrowStik™ inside the
light bar to direct traffic to safe areas.
What does the future hold for Code 3? Very bright, indeed! The company is
building an expandable new facility in St. Louis that should be able to
accommodate its growth for the foreseeable future. Starting with
approximately 90,000 sq. ft. under roof, it should be completed in February,
1990. This new facility also has a great deal of land that will allow the
company to expand in the future without moving. Code 3 decided to open up
an operation in the United Kingdom to better serve its customers in the UK
and the continent. The new company, Public Safety Equipment (UK) is a UK
company and will manufacture and distribute Code 3 products in Halifax.
Public Safety Equipment (UK) will be under the guidance of Michael Timlin,
Managing Director.
Code 3 has had a very exciting history, but has an even brighter future
because of the company's commitment to research and development,
combined with quality, and because of the company's commitment to the
emergency warning marketplace. Code 3's future is bright because the
company provides its customers with the best products and best service in
the industry today.
THE WHITE HOUSE
WASHINGTON
August 25, 1992
MEMORANDUM FOR THE CHIEF OF STAFF
CHRISTINA MARTIN
PAUL BATEMAN
TIM MCBRIDE
TONY BENEDI
DAN MCGROARTY
PHILLIP BRADY
LAURA MELILLO
ANN BROCK
HENSON MOORE
MICHAEL BUSCH
JANE MOORE
NICK CALIO
JANET MULLINS
SUE CORNICK
ROGER PORTER
BILLY DALE
PATTY PRESOCK
DAVID DEMAREST
STEVEN PROVOST
BILL FARISH
SUSAN PORTER ROSE
LAURIE FIRESTONE
DENNIS ROSS
MARLIN FITZWATER
BRENT SCOWCROFT
CLAYTON FONG
DORRANCE SMITH
JOHN GAUGHAN
KATHY SUPER
BOYDEN GRAY
PEGGY SWIFT
EDE HOLIDAY
MARGARET TUTWILER
CONSTANCE HORNER
DAVID VALDEZ
TOM HUFFORD
ROSE ZAMARIA
RON KAUFMAN
ROBERT ZOELLICK
BOBBIE KILBERG
USSS/PPD OPS
CECE KREMER
WHCA OPS
WILLIAM KRISTOL
MEDICAL UNIT
MICHAEL LUCAS
AIRLIFT OPS
WHTV
THROUGH:
TIMOTHY J. MCBRIDE
ASSISTANT TO THE PRESIDENT FOR
MANAGEMENT AND ADMINISTRATION
FROM:
ED MURNANE
Ellumance (MDS)
DEPUTY ASSISTANT TO THE PRESIDENT AND
DIRECTOR OF PRESIDENTIAL ADVANCE
SUBJECT:
TRIP OF THE PRESIDENT TO ST. LOUIS, MISSOURI;
AND CINCINNATI AND FINDLAY, OHIO ON AUGUST 27,
1992
For your use and planning purposes, the attached is a preliminary
outline schedule for the Trip of the President to St. Louis,
Missouri; and Cincinnati and Findlay, Ohio on August 27, 1992.
Please keep in mind the following information has not been
finally approved and is subject to change.
Attachments
PRELIMINARY OUTLINE SCHEDULE
Revised 8/25 4:30 pm EDT
Thursday, August 27, 1992
GUEST AND STAFF INSTRUCTIONS:
6:20 am Vans depart West Basement
en route Andrews Air Force
Base.
6:40 am Those with own transportation
should arrive Andrews Air Force
Base, Distinguished Visitor's
Lounge, at this time.
7:05 am
MARINE ONE departs White House en route Andrews
Air Force Base.
(Flying Time: 10 Minutes)
7:15 am
MARINE ONE arrives Andrews Air Force Base.
7:25 am
AIR FORCE ONE departs Andrews Air Force Base
(E.D.T.)
en route St. Louis, Missouri.
(Flying Time: 1 Hour 50 Minutes)
(Time Change: Back 1 Hour)
(Interchange: No)
8:15 am
AIR FORCE ONE arrives Lambert-St. Louis
(C.D.T.)
International Airport, St. Louis, Missouri.
8:25 am
MOTORCADE departs Lambert-St. Louis International
Airport en route Public Safety Equipment, Inc.
(Drive Time: 15 Minutes)
8:40 am
MOTORCADE arrives Public Safety Equipment, Inc.
*
TOUR OF PUBLIC SAFETY EQUIPMENT, INC.
- Expanded Pool
(8:45 am - 8:55 am)
*
ADDRESS PUBLIC SAFETY EQUIPMENT, INC.
EMPLOYEES AND BUSINESS COMMUNITY
- Open Press
- Remarks
- Teleprompter TBD
- 1,500 Attendees
(9:00 am - 9:25 am)
9:30 am
MOTORCADE departs Public Safety Equipment, Inc.,
en route Stouffer Concourse Hotel.
(Drive Time: 15 Minutes)
9:45 am
MOTORCADE arrives Stouffer Concourse Hotel.
*
VICTORY '92 SUPPORTERS MEETING
- Closed Press
- Talking Points
- 50 - 70 Attendees
(9:50 am - 10:10 am)
10:15 am
MOTORCADE departs Stouffer Concourse Hotel en
route Lambert-St. Louis International Airport.
(Drive Time: 10 Minutes)
10:25 am
MOTORCADE arrives Lambert-St. Louis International
Airport.
10:30 am
AIR FORCE ONE departs St. Louis, Missouri en route
(C.D.T.)
Covington, Kentucky.
(Flying Time: 1 Hour 20 Minutes)
(Time Change: Ahead 1 Hour)
(Interchange: Yes)
12:50 pm
AIR FORCE ONE arrives Cincinnati/Northern Kentucky
(E.D.T.)
International Airport, Covington, Kentucky.
1:00 pm
MOTORCADE departs Cincinnati/Northern Kentucky
International Airport en route Fountain Square,
Cincinnati, Ohio.
(Drive Time: 25 Minutes)
1:25 pm
MOTORCADE arrives Fountain Square.
*
BUSH/QUAYLE RALLY
- Open Press
- Remarks
- TBD Attendees
(1:30 pm - 2:00 pm)
*
PRIVATE TIME: 50 MINUTES
(2:05 pm - 2:55 pm)
3:00 pm
MOTORCADE departs Fountain Square en route
Cincinnati/Northern Kentucky International
Airport, Covington, Kentucky.
(Drive Time: 25 Minutes)
3:25 pm
MOTORCADE arrives Cincinnati/Northern Kentucky
International Airport.
3:30 pm
AIR FORCE ONE departs Cincinnati, Ohio en route
(E.D.T.)
Toledo, Ohio.
(Flying Time: 50 Minutes)
(Time Change: None)
(Interchange: No)
4:20 pm
AIR FORCE ONE arrives Toledo Express Airport,
(E.D.T.)
Toledo, Ohio.
4:30 pm
MARINE ONE departs Toledo, Ohio en route Findlay,
Ohio.
(Flying Time: 20 Minutes)
4:50 pm
MARINE ONE arrives Findlay Landing Zone, Findlay,
Ohio.
4:55 pm
MOTORCADE departs Findlay Landing Zone en route
Findlay Machine and Tool.
(Drive Time: 5 Minutes)
5:00 pm
MOTORCADE arrives Findlay Machine and Tool.
*
ADDRESS FINDLAY COMMUNITY
- Open Press
- Remarks
- Teleprompter TBD
(5:05 pm - 5:30 pm)
5:35 pm
MOTORCADE departs Findlay Machine and
Tool en route TBD.
(Drive Time: 10 Minutes)
5:45 pm
MOTORCADE arrives TBD.
*
VICTORY '92 SUPPORTERS MEETING (TBD)
- Closed Press
- Talking Points
(5:50 pm - 6:05 pm)
6:10 pm
MOTORCADE departs TBD en route Findlay Landing
Zone.
(Drive Time: 10 Minutes)
6:20 pm
MOTORCADE arrives Findlay Landing Zone.
6:25 pm
MARINE ONE departs Findlay Landing Zone, Findlay,
Ohio en route Toledo Express Airport.
(Flying Time: 20 Minutes)
6:45 pm
MARINE ONE arrives Toledo Express Airport, Toledo,
Ohio.
6:55 pm
AIR FORCE ONE departs Toledo, Ohio en route
(E.D.T.)
Andrews Air Force Base.
(Flying Time: 1 Hour 15 Minutes)
(Time Change: None)
(Interchange: No)
8:10 pm
AIR FORCE ONE arrives Andrews Air Force Base.
(E.D.T.)
8:20 pm
MARINE ONE departs Andrews Air Force Base
en route White House.
(Flying Time: 10 Minutes)
8:30 pm
MARINE ONE arrives White House.
THE WHITE HOUSE
Office of the Press Secretary
(Ansonia, Connecticut)
For Immediate Release
August 24, 1992
REMARKS BY THE PRESIDENT
TO THE CHAMBER OF COMMERCE
Warsaw Park Hall
Ansonia, Connecticut
2:05 P.M. EDT
THE PRESIDENT: Thank you very, very much. Michael,
thank you and all the others at the Chamber. Thank you for that
introduction. And let me just explain what Michael was talking
about. There has been this hurricane down in Florida, and so we
leave right from here to go down to Newark, take the plane and
head on down to look at that damage and express our concerns to
the people there.
But I am just delighted to be here. A warm
reception coming into town. I want to thank David Rifkin and
especially the Mayor Thomas Hallihan. And let me also mention an
old friend and a good man, Gary Franks who's the Congressman
here. I am so indebted to him. (Applause.) And another that
you all know so well in this valley John Rowland. He's a great
man and I want to see him do more. (Applause.)
And I was touched by the Reverend Father Weiss's
invocation. And I want to ask today that we now take a little
political look to the fall.
I'll tell you something. I came out of that Houston
Convention, and the whole spirit around this country is
different. I am determined to win this election and I'm
determined to do it fair and square. (Applause.) And if I
hadn't been fired up when I walked in here The Company -- that
great music -- would have got it going I'll tell you. That was
fantastic. I don even know where they are. (Applause.)
But anyway, we're looking ahead to a great classic
that takes place this fall. I'm not talking about Ansonia versus
Derby -- (laughter) -- I'm talking about the November 3rd
contest. And that does have a lot to do with the direction of
this country, and also the new century beyond.
I heard my grandson speak at our convention and I
Wad so very proud of that young kid. And I think -- (applause)
-- and it just reminded me on a very personal basis of what the
Reverend Father was talking about and the job that lies ahead of
us, to make life better for all.
Now, we have witnessed, as I pointed out down there,
a world of change from Managua to Moscow. Millions of men and
women now turn towards freedom. They're celebrating a new birth
of freedom. And I believe people right here in the valley, many
of whom came here from other countries, many of whom family came
here, understand what I'm talking about when I say this nation
can take pride in the freedom of others. (Applause.)
Many right in this room, because of family -- not
just because of freedom and democracy -- because of family,
prayed for this day of freedom to come to Eastern Europe, to
Russia, to the countries south of our border. And we've
MORE
- 2 -
witnessed this remarkable change. And this miracle has come
true.
And so now the challenge for this country is to
bring that spirit home, from Warsaw, Poland to Warsaw Park, and
to focus this great nation on the mission ahead. (Applause.) We
have literally changed the world with the help of the taxpayer,
Presidents who preceded me, fighting men and women that have
served this great country with distinction we've changed the
world. And now we must change America for the better.
(Applause.)
And our challenge quite simply is to win the global
economic challenge, to win the peace. Be a military superpower,
an economic superpower, an export superpower. And in this
election you're going to hear two very different visions of how
to do this. Theirs is to turn inward and protect; and ours is to
look outward and open new markets and prepare our people to
compete (applause.) To save and invest. And when I'm talking
about investment, I don't mean more taxpayer money going into
government investment. I mean more private investment, small
business investment. (Applause.)
I don't want to get too personal in this wonderful
area that I understand has some wonderfully smart Democrats
because I need you guys in the fall. But let me say this, that
my opponent has spent most of his adult life in government, and
that's pretty much all he knows about. But his idea about
creating jobs is to have government jobs -- public payroll jobs.
And I come at things a different way. I spent I computed it
the other day -- half of my adult life in government service, one
kind or another: and half in the private sector. And long before
I was in the public sector I worked for a living out in the oil
fields of West Texas, built a company, and did what many here has
in small or larger operations -- I met a payroll, I took risks,
and I made it work. And I happen to think having held a job is
not a bad qualification even for President of the United States
of America. (Applause.)
Look, the world economy is changing. And we've got
to be in the lead of that change. Think of the economic changes
you've seen right here in Ansonia from moving from that brass and
copper age, in the mills along the Naugatuck, to the new
corporate headquarters in the industrial parks across the valley.
Right now one in every six American manufacturing jobs is tied
directly to exports. And that doesn't count the economic ripple
effect created when those workers paid mortgages or buy a car or
feed the kids.
Since '88, since 1988, three-fifths of the economic
growth has come from people in other countries buying what we do
best the products we make right here in America. We are the
best manufacturers in the world, and don't let anybody tell you
-- (applause) -- don't you let that gloomy opposition tell you we
can't compete or say that we're a nation in decline. We are not.
And as President I'm working now to create jobs, new
markets markets in MOSCOW, markets in Mexico City that mean
new American jobs. And I am convinced that the answer is not to
build - wall around our economy, not to put the government in
charge, but to use the government to help you literally go back
to work in this country. And that's what I want to tell you how
I'm going to do it. (Applause.)
Here are some of what we stand for: Open markets
for American products. Here's one we have a big difference on --
lower government spending and tax relief. Not spend and tax, tax
relief, and less federal government spending. (Applause.) And
the other one is opportunities for small business. We've got to
do better getting the regulatory burden off the back of these Mom
and Pop, these small operators. And we're going to keep doing it
until we get that job done. (Applause.)
- 3 -
You know my feeling about how -- too many lawsuits
in this country. I've been fighting to change that, blocked by
this gridlocked Congress. we sue each other too much. We care
for each other too little. And we've got to break the back of
those that are breaking this country with these damn lawsuits.
(Applause.)
AUDIENCE: Clean House.
THE PRESIDENT: I'll get to that. And new schools
-- and I know we've got some teachers here, and God bless them.
But I'll tell you something. We need new schools to back up
these teachers, new ideas. Our whole program, America 2000, is a
good program, to literally revolutionize how we bring our kids
into the next century. It's an exciting program. And I might
say, we've got to win this fight on narcotics. Teenage use of
cocaine is down, but we've just begun to fight. We've got to win
it. Clean out these schoolyards. (Applause.)
You know, a big difference is a big one -- I do
believe that we they're too big, government, and spend too
much. And last week I offered an idea to get the deficit down.
We'll gíve you a special box -- I believe that people should have
it -- a special box on that tax return to check so that up to 10
percent of your income tax can go for one purpose. and that is to
reduce the budget deficit. If Congress doesn't like it -- all
these editorials that you read around here on some of these
sophisticated journals don't like it but the Congress has
failed to do it. so let's give the people a chance to check that
box, and then we have to live with it. (Applause.)
And then there's something that's very important to
the valley that I talked about today in Union, New Jersey -- a
dramatic new approach to job training, to help young people find
that first job a program we call the Youth Training Corps; to
get inner-city kids off the mean streets and get them a second
chance to build the skills they need to succeed. For older
workers who have lost their jobs or worried that the next pay
envelope may have a pink slip, we've developed a new concept
called skill Grants - vouchers worth $3,000 to be used towards
the training program of their choice. And our plan is based on
empowering people to get the kind of training they want, not
empowering the bureaucracies to hire more people. And that is a
very different approach than the approach the others are taking.
(Applause.)
The Governor of Arkansas says he's all for free
enterprise. Then he proposes right out of the box the largest
tax increase in history much of it on the back of small
business. I learned the hard way holding out my hand to that
gridlocked Congress and they bit it off. Once you make one
mistake you don't make it again. I am not going to go forward
and go with these programs of spending and taxing. (Applause.)
We've literally proposed and it's before Congress
right now -- eliminating over 200 programs and 4,000 projects.
It's there, it's put down in detail. It's before this gridlocked
Congress. And we've got to do something about changing the
Congress. If we had more people like Gary Franks, we wouldn't
have a gridlock problem. (Applause.) But the Congress has been
controlled they have been controlled by the same party for 38
years. Everything else has changed in the country not the
House of Representatives. Help me change the House. Clean it --
clean the House. (Applause.)
My opponent says he's for fiscal responsibility.
He's against a balanced budget amendment. Says he's for a line-
item veto, but the gridlocked Congress refuses to give it to the
President. And I stand for something different. I want to see
us cut that federal spending with the help of a new Congress; get
the taxes down so we can get the economy stimulated and let
people keep a little more of what they earn. It's a big
MORE
- 4 -
philosophical difference between the Bush-Quayle ticket on the
one hand and Clinton-Gore on the other. Look at it, it is
fundamentally different.
Now, in this campaign, we've got to call it as we
see it. And this year I believe the choice is very clear. we've
got two different fundamentally different approaches. I
believe in the government. You get all this talk -- government,
government - -- of the government, by the government, for the
government. That's not going to get the job done. We are
fighting against that because we happen to believe still that the
power should flow from the people. so it's of the people, by the
people and for the people. And really, what's at stake here is
the future of this country.
And we're in choppy waters. I heard the Reverend.
I know it. People that are hurting and can't find jobs when they
need it. I'll tell you another area we've got a big difference
-- on the defense spending. I have cut defense, but we're not
going to cut into the muscle of the defense. The other side
wants to take $60 billion more than Colin Powell and Cheney tell
me is the right level. We still have a tough world out there.
We must still be strong. And while you're thinking about it, we
don't needlessly need to throw another million defense workers
out of work by cutting back on defense below the levels needed
for national security. (Applause.)
Let me just tell you, I wish Barbara Bush were here.
This would be great for her morale -- (applause) -- this would be
great for her spirits. (Applause.)
But I'll tell you something I want to be serious
about this one point. When I drove in here today and I've
been here as some of you know many, many times. MY dad was a
Senator from this state and we grew up down the way. Leave out
the politics for just a minute. When I came in here this
morning a lot of the people out there were waving. I'm sure
they were not for me. They were there because I am privileged to
be the President of the United States of America.
But you sense something else out there along the
highway. You sense this community feeling and this feeling of
family. And I want to tell you something. The cynics, the
liberal theoreticians, they can ridicule me all they want when I
talk about family values. But this one transcends Democrat. It
transcends Republican. And it gets to the heart of what our
community is about. And the community has been diminished by the
decimation and sometimes the decline of the American family.
I saw it today, that family spirit is still strong.
And I just want to pledge to you, I am not going to get off
talking about that because we must find ways -- whether it's
welfare reform, whether it's making the fathers that run away
stay there, whether it's helping, as Barbara does, hold someone
in the arms to demonstrate the compassion and love we feel for
our fellow man -- we've got to find ways to strengthen the
American family. It is not demagoguery -- it's fundamental to
America. (Applause.)
And she and I will continue to try to do our level
best to set a level of decency and honor and, hopefully, trust
there in the Oval Office and there in the White House.
Thank you very much for this wonderful reception.
And may God bless the Naugatuck Valley. And may God bless the
United States of America. (Applause.)
END
2:25 P.M. EDT
WHAT NAFTA MEANS FOR MISSOURI
EXPORTS
Missouri Exports to Mexico and Canada-$2 Billion in 1991
JOBS
Missouri Jobs Supported by Manufactured Exports to Mexico and Canada-78,000
MISSOURI INDUSTRIES: NAFTA market openings benefit vital Missouri
industries: electronics, food products, computers, transportation equipment, paper
products, chemicals, primary metals, fabricated metals. To highlight just a few that will
gain from NAFTA:
Food products, a leading North American export of Missouri, will build on their recent export gains (ranging
from a 34% increase in U.S. exports of alcoholic beverages to Mexico, to a 271% increase in U.S. exports
of bakery products to Mexico between 1990-91) due to reductions in tariffs and other barriers. As Mexican
tariffs on food products drop to zero and import licenses disappear, the 6,000 jobs which U.S. food exports
to Mexico support, will continue to increase. Removal of Canadian tariffs on U.S. foodstuffs will reach the
midpoint by 1993 and zero by 1998, which should boost U.S. exports of food products above the $3.3 billion
worth exported in 1991. The NAFTA also obligates Canada and Mexico to recognize and protect bourbon
and Tennessee whiskey as distinctive products, with immediate elimination of tariffs on these products into
Canada and Mexico. Most other alcoholic beverage tariffs will be phased out over five years.
Industrial machinery and computers, a top Missouri export to both NAFTA partners, have much to gain
from NAFTA. U.S. exports to Mexico and Canada of industrial machinery and computer exports, already
at $19.4 billion, should exceed the current 20% annual growth rate, once NAFTA is in effect. NAFTA will
eliminate Mexico's 10-20% tariffs on computers and remove other restrictions to boost already strong U.S.
sales of $4.8 billion. Computer software also benefits from NAFTA: NAFTA safeguards U.S. software from
piracy by strengthening copyright laws and providing stronger enforcement, which protects our 90% share
($2 billion) of Mexico and Canada's combined software market. NAFTA computer rules of origin ensure that
domestic equipment producers reap NAFTA benefits, without harming component suppliers. NAFTA also
opens the important public sector market in Mexico and Canada to the U.S. computer industry through
improved government procurement procedures.
Chemical products, a top Missouri export to Canada and Mexico, have much to gain from NAFTA. U.S.
exports of chemicals to Canada and Mexico exceeded $9 billion in 1991. Exports to Mexico alone supported
18,000 U.S. jobs in 1990, many in Missouri. Missouri's chemicals and petrochemicals will be more price
competitive as Mexican tariffs of 10%-20% and non-tariff barriers, such as import licenses, are removed.
Removal of Canadian tariffs on U.S. chemicals will reach the mid-point by 1993 and will reach zero by 1998.
Missouri's chemical manufacturers will benefit from open government procurement, and improved intellectual
property rights protection. NAFTA opens the Mexican chemical industry, including petrochemicals, to
investment by NAFTA parties. This will help integrate the North American chemical industry, increasing its
global competitiveness by taking advantage of low-cost hydrocarbon resources, open markets, advanced
production technologies, and proximity to the world's largest markets.
August 13, 1992
Compiled by USDOC/OM
Transportation equipment, another leading Missouri export to NAFTA countries, will enjoy continued
growth as the NAFTA eliminates Mexican restrictions that have essentially closed the Mexican market to
exports of U.S. vehicles and dampened sales of U.S.-made auto parts. The NAFTA will open markets for
Missouri by totally eliminating tariffs on U.S. auto parts exports to Mexico in ten years (75% in five years),
which will boost transportation-exports to Mexico from the 1991 level of $4.5 billion. Under the CFTA,
100% of automotive trade with Canada will be duty free by 1/1/94, boosting transportation exports to Canada,
which totalled $21.2 billion in 1991. Strict rules of origin for automotive products, stronger than in the
CFTA, will prevent Mexico from being used by any non-NAFTA country as an export platform to the United
States. In fact, NAFTA's auto provisions provide an incentive for manufacturers to source more parts and
components in North America, a boon for the 14,000 U.S. workers -- many in Missouri -- that are supported
by automotive exports to Mexico alone. In addition, NAFTA includes government procurement provisions
that will create opportunities for U.S. manufacturers to sell under open and transparent bidding to Mexico's
public sector, including government-owned enterprises, such as the Mexican National Railroad.
Services are an important employer in Missouri -- mostly in health services and banking. This sector will
gain from unprecedented export opportunities through NAFTA. Restrictions on the cross-border provision
of most services will be removed. Liberalization of the telecommunications and land transport sectors will
enhance access for all service providers through cheaper communications and transport costs. NAFTA enables
firms to provide services in Canada or Mexico without forcing them to establish there. NAFTA makes it
easier for sales representatives, agents, market researchers, investors, intracompany transferees, after sales
service providers (a vital element of success for business services), and professionals (provided they meet the
country's licensing criteria) to move between the three countries to provide their services.
NAFTA offers Missouri insurance companies the opportunity to enter the previously closed Mexican market,
by allowing them to acquire Mexican insurers or establish subsidiaries, provide some types of insurance on
a cross border basis from the U.S., and sell certain types of insurance to Mexican residents who come to the
U.S. Mexico's demand for insurance is expected to grow tremendously to meet the needs of the greatly
underinsured Mexican businesses and individuals, as well as new foreign investors.
Banking and financial services in Missouri will have expanded opportunities to do business in Mexico. For
the first time, U.S. banks and securities firms will be allowed to establish wholly-owned Mexican subsidiaries,
and will be allowed to compete on an equal basis in the vibrant Mexican economy by the year 2000.
Missouri agriculture has the potential for sizeable gains under a NAFTA. In 1990, agricultural production
in Missouri generated $3.9 billion in farm cash receipts. Cattle and calves, soybeans, hogs, dairy products,
corn, wheat, turkey, broilers, cotton, eggs, and sorghum are Missouri's leading commodities. Exports are
expected to increase for virtually all of these commodities.
August 13, 1992
Compiled by USDOC/OM
Last year, U.S. exports to Mexico of meat and live animals were $599 million, soybeans $343 million, dairy
products $121 million, corn $148 million, wheat $39 million, cotton $55 million, sorghum $372 million, and
poultry $131 million. Under NAFTA, U.S. cattle exports, currently small, will likely grow to over 1 million
head per year. U.S. soybean exports to Mexico by the end of the transition period are expected to double,
with a net gain of $70 to $80 million, annually above non-NAFTA levels. U.S. exports of pork to Mexico
could reach 100,000 metric tons within the first few years of NAFTA, and could be twice that level by the
time tariffs are completely eliminated. Under NAFTA, U.S. commercial exports of dairy products to Mexico
are projected to increase moderately as border measures are dropped and Mexican incomes grow. Mexican
imports of U.S. milk powder are expected to grow by 20,000 metric tons by the end of the transition period,
a gain from NAFTA of $36 million in dairy export sales at current prices. Larger U.S. grain exports will
increase industry revenues for corn and sorghum by $250 to $300 million by the end of the transition period.
Wheat exports to Mexico are also expected to increase modestly, generating additional revenues for the
industry. Under NAFTA, the removal of tariffs and licensing requirements and the reduction of feed costs
in Mexico will allow U.S. poultry exports to Mexico to increase slightly. U.S. cotton exports to Mexico will
likely increase. NAFTA-generated income growth in Mexico is expected to increase consumer demand for
textiles and apparel. Greater access and growth in consumption each of these sectors will contribute to success
for Missouri under NAFTA.
August 13, 1992
Compiled by USDOC/OM
MISSOURI:
EXPORTS & JOBS
THE NORTH AMERICAN FREE TRADE AGREEME
Missouri's Merchandise Exports to Mexico.
Missouri's Merchandise Exports to Canada
Totalled $288 Million in 1991-
Totalled $1.7 Billion in 1991
$450
$1.9
½
Manufacturing
N
Manufacturing
$1.7 Billion
Non-Manufacturing
1.7
Non-Manufacturing
400
1.5
350
$1.3 Billion
Millions of U.S. Dollars
$288 Million
200
Billions of U.S. Dollars
1.3
S00
1.1
250
$199 Million
0.9
0.7
150
100
0.5
50
0.3
1991
1987
1988
1989
1990
1991
1987
1988
1989
1990
Manufactured exports accounted for 95 percent of Missouri's $2.0 billion in
exports to Canada and Mexico in 1991, and supported an estimated 78,000 jobs.
Missouri's sales to Mexico and Canada accounted for 52 percent of the state's total exports.
Since 1987, Missouri's exports to Mexico have grown 45 percent, while its exports to Canada
have grown by more than one-fourth.
Canada and Mexico are now Missouri's first- and second-largest export markets.
An estimated 23,000 new jobs have been created by growth in Missouri's manufactured
exports to our North American trade partners since 1987.
Composition of Missouri's Exports to
Composition of Missouri's Exports to:
Mexico 1991: Total $288 Million
Canada 1991: Total $1.7 Billion
Food Products (14%)
Transportation (58%)
Agriculture (20%)
Electric/Electronics (12%)
Computers & Mach (12%)
Other (15%)
Chamical Products (11%)
Other (24%)
Chemical Products (11%)
Fab. Metal Products (3%)
Primary Metal Ind. (6%)
Computers &.Mach. (9%)
Electric/Electronics (5%)
For more information, contact: Office of the U.S. Trade Representative,
600 17th St., NW, Washington D.C., 20506
August 1992
MISSOURI: EXPORTS TO MEXICO, 1987-91
Missouri's Exports to Mexico Grew 45% from 1987 to 1991
20 Percentage Points Faster Than Export Growth to the Rest of the World
Million $
Percent Change, 1987-91
500
%
Non-Manufacturing
400
Manufacturing
Exports to
45%
$313
$322
Mexico
300
$274
$288
$199
200
Exports to
25%
100
Rest of World
O
1987
1988
1989
1990
1991
0
10
20
30
40
50
60
MISSOURI'S 1991 EXPORTS TO MEXICO WERE $288 MILLION
Missouri's merchandise exports to Mexico grew by 45 percent between 1987 and 1991,
rising from $199 million to $288 million. The percentage increase greatly exceeded the
25 percent growth in the state's exports to the rest of the world over the same period.
From 1990 to 1991 Missouri's exports to Mexico grew by $14.7 million, a 5.4 percent
increase. Missouri in 1991 ranked 16th among all states and the District of Columbia
in the value of exports to Mexico.
Mexico has consistently been one of Missouri's top export markets. In 1991, Mexico
ranked second among the state's 151 foreign markets, up from third place in 1987, when
Missouri shipped products to 138 export destinations.
Over the 1987-91 period, Missouri consistently shipped 2 larger share of its exports to
Mexico than most other states. In 1991, Mexico purchased 7.7 percent of the state's
exports, placing Missouri fifth among all states on this measure.
Missouri's exports to Mexico in 1991 were broad-based. The top two exports, accounting
for 34 percent of the total, were crops ($57.9 million) and food products ($39.7 million).
Three other product groups recorded exports to Mexico in excess of $30 million. They
were: electric & electronic equipment ($36.0 million), industrial machinery & computers
($35.6 million), and chemical products ($31.9 million). The preceding five categories
accounted for 70 percent of Missouri's exports to Mexico in 1991.
Missouri rapidly expanded exports of a wide range of products to Mexico from 1987
to 1991. Categories that recorded the greatest growth were: furniture & fixtures (up from
$290 thousand to $2.6 million), rubber and plastic products (from $2.8 million to $15.8
million), stone, clay & glass products (from $781 thousand to $4.3 million), and primary
metal industries (from $4.4 million to $16.5 million).
76
MISSOURI: EXPORTS TO MEXICO, 1987-91
Missouri's Top Five Exports to Mexico
Million $
in 1991 Totaled $201 Million
Agriculture-Crope
$57.9
Food Products
$39.7
Electric &
Electronic Eqp.
$36.0
Industrial Mach.
$35.6
& Computers
Chemicals
$31.9
0
10
20
30
40
50
60
70
MISSOURI'S EXPORTS TO MEXICO, BY INDUSTRY SECTOR
(Thousands of Dollars)
1987
1988
1989
1990
1991
AGRICULTURE, FORESTRY & FISHING
76,988
95,461
84,011
36,804
58,335
Agriculture - crops
76,454
92,110
83,907
36,432
57,893
Agriculture - livestock
534
3,330
96
297
235
Forestry
0
22
8
76
200
Fishing & Hunting
0
0
0
0
6
MINING
1,514
1,715
1,062
540
1,550
Metal Mining
25
5
0
0
0
Coal Mining
0
0
0
0
0
Oil & Gas
0
0
0
0
0
Non-Metallic Minerals
1,489
1,711
1,062
540
1,550
MANUFACTURING
114,287
205,376
219,313
219,866
219,715
Food Products
28,201
72,852
55,983
24,658
39,679
Tobacco Products
0
0
0
0
0
Textile Mill Products
593
668
191
205
252
Apparel
1,692
2,671
553
377
602
Lumber & Wood Products
469
1,178
1,614
1,104
695
Purniture & Fatures
290
755
2,417
1,913
2,627
Paper Products
2,643
3,189
4,527
3,572
2,366
Printing & Publishing
5,942
9,086
9,769
17,208
4,080
Cheraical Products
11,646
12,015
18,339
27,921
31,883
Refined Petroleum Products
534
347
197
152
562
Rubter & Plastic Products
2,784
5,738
13,076
14,781
15,813
Leather Products
107
494
439
188
963
Stone. Clay & Glass Products
781
825
1,195
1,989
4,302
Primary Metal Industries
4,371
6,402
6,929
8,432
16,456
Fabricated Metal Products
4,939
6,122
6,670
10,462
13,145
Industrial Machinery & Computers
11,320
12,059
19,223
22,774
35,559
Electric & Electronic Equipment
24,758
58,123
64,566
63,410
35,972
Transportation Equipment
11,058
9,857
8,009
15,940
10,922
Sciencific & Measuring Instruments.
1,396
1,781
3,308
3,065
3,333
Miscellaneous Manufactures
761
1,211
2,309
1,714
483
OTHER
5,924
10,174
17,658
16,324
8,646
Scrap & Waste
5,633
9,563
11,995
6,376
4,159
Second Hand Goods
269
545
46
0
122
Military & Other Miscellaneous Items
22
66
5,616
9,948
4,365
MO'S EXPORTS TO MEXICO
198,713
312,727
322,043
273,534
288,245
MO'S EXPORTS TO THE WORLD
2,984,432
2,737,541
2,877,652
3,818,510
3,756,813
MEXICO'S SHARE OF MO'S EXPORTS
6.7%
11.4%
11.2%
7.2%
7.7%
77
SUCCESS STORIES
MISSOURI
FALCON PRODUCTS, INC.
St. Louis, Missouri
Furniture Producer
Faicon Products. a commercial furniture producer, has operated & maquiladora in Juarez,
Mexico. since 1974. Twenty-five years ago, Falcon imported products from Japan. Now, with
its efficient maquila operation. Falcon exports to the Japanese what was formerly imported
from them. The Mexican plant. which manufactures table bases, has allowed Falcon to
expand its U.S. employment by 900 percent
Falcon started operations in Juarez, Mexico, 17 years ago with 10 employees. At that
time we employed 60 employees in our plant in St. Louis, Missouri. Today we employ
130 in Juarez and 600 in Missouri, Tennessee, Arkansas, New York and Minois The
partnership that exists between our operations in both the United States and Mexico has
effectively increased employment in both countries and has developed our markets that
now extend throughout the world"
Franklin A Jacobs
Chairman of the Board and CEO
At an assembly plant in Newport, Tenn.. Falcon creates furniture products by combining parts
from Falcon plants in Juarez, Arkansas, Tennessee and Missouri. The Newport plant employs
300 people and accounts for approximately S24 million of Falcon's S40 million in total sales.
The plant works closely with Falcon/Juarez which sends them unfinished table bases.
Faicon/Juarez is just a part of the Faicon family - it's a way of life. It provides jobs
here. It provides jobs in Merico."
Sam Berry
Production Supervisor
Falcon/Tennessee
"As far as Maxico is concerned. we couldn't TUN without them. Table bases are the heart
of the business."
Leonard Myers
Expediter, International Orders
Falcon/Tennessee
The maquila operation has been essential to Falcon's highly competitive international
marketing strategy. Quality components from the Juarez maquila. Falcon says, have facilitated
Falcon's penetration of markets both at home and abroad. Last year international sales
accounted for 6 percent of Falcon's $40 million in total sales. The commercial furniture
producer anticipates further sales growth if a North American Free Trade Agreement is
completed.
CONTACTS: Franklin A Jacobs
Jerry Hardy
Chairman of the Board and CEO
General Manager
Falcon Products. Inc.
Falcon/Tennessee
0287 Dieiman Industrial Dr.
Route 1
STRATUS SPECIALTY VEHICLES, INC.
Kansas City, Missouri
Ambulance Manufacturer
Stratus Specialty, a small, family-owned ambulance manufacturer, made its first sale to Mexico
in 1989. A follow-up sale in 1990 brought the company's Mexico contracts to more than
$250,000.
"As a small company, it's hard to go after European dollars, but Mexico is closs by. Free
trade will really open c lot of doors in medical equipment and vehicle transportation. It
could increase our volume and sales ... and of course jobs."
Gene Knisley
President
The company, one of the oldest ambulance manufacturers in the United States, employs 45
people on a full-time basis but will hire more workers if the job requires it For the Mexico
contracts, 15 additional people were hired to recondition used vehicles. Stratus predicts that
further expansion of sales into the Mexican market will bring total production costs down and
lower prices for customers in both countries. Stratus is now considering a possible joint
venture with Mexico.
CONTACT: Gene Knisley
President
Stratus Specialty Vehicles. Inc.
P.O. Box 10649
Kansas City, Missouri 64118
816/734-5000
TEL:
Aug 21'92 14:53 No. 001 P.01
Fax
BUCH
QUAYLE
92
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Washington, D. C. 20005
(202) 336-7080
TO:
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OF:
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Director, Campaign Events and Scheduling
FROM:
DATE:
FAX NUMBER:
PAGES TO FOLLOW:
SUBJECT:
COMMENTS:
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1. Cities of products
2. Biggest for. customers
3. How more competitive
-tech innovation
4:20 1.3. ago, a a cornfield
5. Oppo - Derck Sheaven
Ralph Nade Symposium
yoal is socialism
(Spectstor)
TEL:
Aug 21'92 14:53 No.001 P.02
August 18, 1992
Adams Mark
MEMORANDUM FOR GARY FOSTER
314 241-7400
FROM:
DOUG DUVALL
Rm. 1650
SUBJECT:
SURVEY REPORT FOR ST. LOUIS, MISSOURI
THURSDAY, AUGUST 27, 1992
EVENT SCENARIO:
On the morning of August 27, the President will fly from
Washington, D.C. to St. Louis, Missouri. The President will
motorcade from Lambert St. Louis International Airport to a St.
Louis-based company, Public Safety Equipment, Inc., which exports
one third of its business abroad. The President will briefly tour
the plant and address 1500 -2000area employees. The theme of the
event will focus on exports, jobs and the economy. After his 9:00
am address,, the President will, motorcade back to the airport and
fly to Cindinnati for additional campaign events.
PROPOSED EVENT SITE:
attend a Victory '92 reception and then
firm
Public Safety Equipment, Inc. (PSE) is a privately owned from
located only 15 minutes from Lambert St. Louis International
Airport. St. Louis serves as the company's World Headquarters where
they design, manufacture and service a vast array of emergency
equipment (police sirens, light bars and rescue equipment, etc.).
Their 90,000 sq. ft. complex hours approximately 200 employees, its
administrative, engineering, sales staff and all manufacturing
operations. PSE was founded in 1974, and five years ago they made
a commitment to export. Today, they sell their sirens and warning
devices to police forces and fire crews in 48 countries. Exports
now account for 35% of total annual sales. Exporting has pushed
PSE to become an innovator and leader in its field allowed them to
avoid what would have been relatively low growth due to the
recession.
Public Service Equipment, Inc. was one of a dozen Missouri
companies to re visited by Governor Ashcroft's "Exports for
Success" tour last month. During the last four years exports from
Missouri have increased 31% with more than 1600 businesses
exporting products and services to 166 countries.
Much of PSE's 90,000 sq. ft. is occupied by offices, assembly areas
and permanent storing of inventory. Their Executive Vice
President, Ed Ryan, seems receptive to provide a forum for the
President's speech and we were able to find an area to hold
approximately 1500 standing employees from PSE and other companies.
There are many entrances to the main manufacturing plant, even one
within the event site. However, I recommend the President use the
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Aug
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14:53 No.001 P.03
entrance to the facility where he could be greeted The by PSE's tour
main and be taken on a brief tour of the plant. the plant.
management will conclude at the event site, located in the rear of
Public Safety Equipment, Inc. has a rather industrious out. I
Although there is no natural backdrop that truly stands stack
setting, the President's dais to be placed in front of a large stack is
propose of inventory (hundreds of various sized boxes). This feet across
piled width of the event site. PSE also offers a 30 ft.
from the floor to ceiling (40 feet) and runs 80 display of
the and lightbars which could flank the dais in the background. to the
The sirens press platform could be placed head-on with its back
loading dock entrance.
Surrounding the President on at least three sites would be crowd. PSE's
200 employees, other local employees and a limited political but
This would certainly not be a campaign rally atmosphere a
natural business/manufacturing setting where the President PSE can
speak about exports which create jobs and economic growth.
also offers a good opportunity to include law enforcement themes
since its clients are police forces and fire crews.
has had no recent layoffs, they are non-union and the
PSE management would consider it a great honor to host the President.
The St. Louis new Chamber of Commerce would also be instrumental for in
getting other employees from to attend the event. PSE has applied the
Missouri a Department of Commerce, I found out that they don't
Department of Commerce "E Award". After checking with
ity because they have not been exporting long enough.
qua "
four of the last 10 presidential elections, Missouri was carried
In by fewer than 30,000 votes. In 1988, President Bush's margin over
Michael Dukakis was nearly 73,000.
OTHER EVENTS SITES VISITED
Mark Andy -- Second Option: Company that manufactures printing
presses has 260 employees. One third of its business is exported
related. It would make for a logistically conducive event site.
However, it is located 35-40 minutes from Lambert Airport (only 5
minutes from Spirit of St. Louis Airport) and is not considered
part of St. Louis. It would be difficult to draw the business
crowd and there is no decent backdrop.
Multiplex Industries: Manufactures of soft drink dispensers. On
third of business is exports. Recently lost part of a McDonald's
International account and has laid off 10 employees in the past
year. Only an outside event site would work. Remote location.
Petrofsky's Enterprises: Family-owned firm which exports bagels to
Japan, United Kingdom, Mexico, Hong Kong, and Taiwan. 10% of their
business is exports. Only indoor site would hold 300. They are in
operation 24 hours a day. They have patent protection machinery
and would be reluctant about admitting cameras and general public
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Aug 21'92 14:54 No.001 P.04
into the site.
CONTACT:
Joanie Featherston, Gov. Ashcroft's St. Louis Office, 314/751-6900
Dan Barber, Public Information officer, Missouri Department of
Economic Development 314/751-9065
Ed Ryan, Executive vice President, Public Safety Equipment, Inc.
314/426-2700 Mike Latfa, President.
No.001 P.05
ST. Laws, no
PUBLIC SHOW GRAIMENT
THRUSDAY, AMG 20
Aug 21'92 14:54 No.
PRESS
AUDIENCE
X
INVENTORY
MANUFACTURING FREA
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PRESS FILING
CENTER
MAGE
Public CUTRANCE
FOR EVENT
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you
Fee
314540
8/4/855-543-
PUBLIC SAFETY EQUIPMENT
page
Public Road in st. Louis, Missouri. Mike Latta
safety Equipment is a privately owned firm located is at
President The phone number is 314-426-2700. The Fax is
10986 N Waroon of the company, Ed Ryan is Executive 314-425-1337. Vice-President.
Governor Asheroft tour highlighting Missouri's export successes. During 37%
recently honored Public safety during a
statewide three years, exports from Missouri have increased $4.5 -
the last 1600 Missouri businesses exported a combined in
more than in products, services and goods to 166 countries the state. 1991.
billion Missouri exports support an estimated 100,000 jobs in
Public world with police sizens, light bars, and other warning
Safety Equipment's 200 employees are literally lighting up
the used by police and fire departments in 48 countries. last five The
devices company's exports have grown from 15% to 35% over the
years.
The company their work flow and work with end users -- often
builds most equipment to order, allowing employees highway to
define patrols -- to meet changing needs and design improved products.
Public safety development office. "We've participated in international of
Equipment has been assisted by Missouri's export
business meetings, catalog shows, etc., " said Ed Ryan, vice president in
marketing. # The state office in Tokyo also has helped us
locating distributors on the Pacific rim."
state of Missouri has international trade offices in Germany,
The Japan, Kerea and Taiwan. The state will soon open & fifth
international trade office in Mexico.
Public safety is a very employee oriented firm and the plant is
very clean and celorful providing many visual opportunities.
Public Safety Equipment was very appreciative of the Governor's its
recent virit and the company went out of its way to include
employees successful and enjoyable stop on the "Exports for Success" tour.
and local community leaders in what was a very
(Ferguson/Walters)
August 25, 1992
3:20 p.m.
STLOUIS
PRESIDENTIAL REMARKS: PUBLIC SAFETY EQUIPMENT, INC.
ST. LOUIS, MISSOURI
AUGUST 27, 1992
9:00 A.M. (??)
Thank you and good morning.
(Acknowledgments, humor)
Together we have seen a world transformed these past three
and a half years -- a world made new by American strength and
resolve. But now that the Cold War is over, the defining
challenge of the '90s is to win the economic competition of the
new global economy - -- to win the peace.
Our goal is simple and profound: We must be a military
superpower, an economic superpower and an export superpower.
In this election, you'll hear two versions of how to do
this. My opponents' answer is to look inward, and protect what
we already have from the challenges of this new world. My
approach is to look forward -- to open new markets, prepare our
people to compete, to restore our social fabric -- to save and
invest, so that we can win.
Twenty five years ago, where you're standing was a patch of
bleak, undeveloped real estate. Now look around -- because of
your dreams and hard-work, that patch of ground is a bustling
factory, creating light bars and sirens that help save lives and
keep the peace from Manila to Santiago.
2
There was a time when companies like PSE could be satisfied
with a national market -- sell your goods in the fifty states and
leave it at that.
But you here at PSE know that's no longer good enough. So
five years ago, you took on the world. I'm told that now 35
percent of what you build right here is sold outside our borders,
in 66 different countries. That bold, forward-looking strategy
has helped you weather the uncertainties of the past few years.
PSE's story is a parable for our entire country's economic
future -- never settling for less, always pushing ahead,
embracing the challenges of foreign competition and reshaping
them as opportunities.
Let me offer a personal note -- tell you how I learned about
competing in the world.
I spent a good part of my life out in West Texas, in the oil
business. I painted rigs for a while, even lived out of a
suitcase as a traveling salesman. And all around me in those
days -- the fifties and early sixties -- I saw towns and
businesses bloom from those dusty plains like desert flowers.
Why? The reason was simple: The world wanted what Texas
had to offer -- cotton and cattle and crude.
We understood that the more goods we sold outside our
borders, the more jobs we could create within them.
Later on, when I started my own business, I learned again:
we had to take a global view to compete. I shopped for investors
on the west coast, on the east coast, but I couldn't stop there.
3
I traveled the world -- to Europe and the Far East. Every dollar
we could bring into this country was a dollar that went to expand
our company, create jobs in our community.
I've seen it over and over again: as U.N. ambassador, envoy
to China, and now as president. You learn how important America
is to the world, but you also learn how important the world is to
America -- not just for national security, not just for military
preparedness, but for creating jobs, right here at home.
We've held steady to this vision for three years now, and
with great success. As we knock down trade barriers, American
companies are rushing to meet the demand. Exports are up XXX in
the last five years; America is once again the world's leading
exporter.
What does that mean right here? I'll bring it closer to
home. In Missouri, exports are up 37 percent over the last three
years -- $4.5 billion worth of goods shipped to 166 countries on
every continent.
Impressive numbers, but when you get behind the abstractions
of export figures and trade statistics, you find the real benefit
of the new world economy -- in a word, it's jobs. Here in
Missouri, 100,000 jobs are supported by foreign trade. Across
the country, more than 7 million Americans are employed for the
same reason.
That's the way the world works these days. It's a world
where products can be shipped at the speed of sound and
investment money can cross borders at the speed of light.
4
Everyone recognizes that the world is moving at a faster
pace than ever, but I see something more: it's moving our way.
Right now we're building on the export success of the last three
years. Two weeks ago we entered a new era of open trade. Along
with Mexico and Canada, we initialed the North American Free
Trade Agreement, with the goal of creating one of the largest
free-trade areas in the world -- an integrated economy worth more
than $6 trillion dollars.
Here in Missouri, you already export $2 billion worth of
goods to Mexico and Canada. That's a lot of paychecks, but our
new agreement will make that success look like kid's stuff.
NAFTA is a solid agreement -- when you've been in as many
tough negotiations as I have, you learn to tell the difference.
It will protect the environment, and more important, it will
protect American workers. And more: it will create new jobs for
this generation and the next -- especially the kind of high-
tech, high-wage jobs we'll be proud to pass on to our children.
We're going to take this case to the liberal Democrats on
Capitol Hill, because they need to hear it. A free-trade
agreement isn't a way of dividing up the economic pie, where one
side's loss is another side's gain; it's a way of making the pie
bigger for everyone who participates.
The liberals don't seem to get it. Right now, in fact,
before our initials are even dry on the agreement, the liberals
in Congress -- led by somebody who might be familiar to you,
5
Congressman Dick Gephardt -- are calling for us to slap a tarriff
on any new trade that comes from NAFTA.
Think about that for a minute -- ((which is a minute longer
than they've thought about it)). After years of tough
negotiations with our two closest trading partners, we've agreed
to end tariffs. The congressional Democrats say: Okay, fine.
But first you have to put on a new tariff.
In other words, the only way they'll agree to reduce tariffs
is if they can raise tariffs.
That's like telling us they want us to hit a homerun, but
please don't hit it out of the park because we don't want to lose
the ball.
This "transaction tax," as they call it, will increase the
cost of goods you want to buy, and discourage the creation of new
jobs for you and your neighbors. It turns the agreement on its
head -- defeats the whole purpose.
Now, I suppose I could ask my opponent to help me out with
his liberal Democrat colleagues on Capitol Hill. Governor
Clinton says he's for free trade "in principle."
But "in practice" may be a different story. Actually, it's
not clear where the governor stands. Last year, Mr. Clinton
called a free-trade pact with Mexico "imperative." Then this
April, the Washinton Post reported that the protectionists were
"breathing easier" because he endorsed their trade position.
Then in July, he said he was "applauding Majority Leader
Gephardt's efforts."
6
This week, maybe the governor delivered his final word on
the subject. He said he was studying our agreement. Then he
said: "When I have a definitive opinion, I'll say so."
The way Governor Clinton wiggles on free trade, I'm not
surprised he compares himself to Elvis.
No matter how much Governor Clinton would like to fudge the
issue, the difference couldn't be clearer -- and the difference
is based on two very different views of America's future. My
opponents see trade barriers falling and they say: Hold
everything. They see new markets for American goods and they
say: Wait a minute. We can't compete. The American worker can't
cut it. So let's pull down the blinds, lock the doors and hope
the world goes away.
Well, let me tell them something you already know. The
American worker doesn't have to hide from anybody. We have the
most productive workforce in the world. Americans can outwork,
out-think, out-compete anybody, anywhere, anytime.
That's something everyone in the world seems to understand -
- everyone but the protectionist Democrats. Over the last
decade, we've seen a flood of foreign investment in the United
States, with businesses from all over the world setting up shop
from Portland, Oregon to Portland, Maine. These investors are
following a simple logic: if you want the best science and
universities in the world, if you want the best workers in the
world, you have to come to the U.S.A.
7
Now, this investment makes some people uneasy. I understand
that -- particularly when the other side tries to stir up fear
and resentment against foreign capital. I was in Utah not long
ago, and a very articulate woman confronted me on the issue. I
told her we probably couldn't see eye to eye on it, but I tried
to tell her why I felt so strongly against the isolationism that
would keep foreign investment out of America.
There was an irony in her timing. I had just returned from
meeting with the heads of the industrialized countries in Munich,
and while I was there I was pleased to team up with Governor
Carroll Campbell of South Carolina and the head of BMW to announce a new
BMW plant in South Carolina. That means 10,000 jobs to the
people of that state.
Now, I don't think the 10,000 South Carolinians who get
those jobs are going to argue against foreign investment. One
out of every ten manufacturing workers in the United States works
for a company supported by foreign investment. That's the bottom
line on foreign investment in the U.S.: jobs -- jobs for
Americans, and growth for the American economy.
That's the way the world works in a global economy. Again,
Governor Clinton just doesn't seem to understand. But he's not
wiggling on the issue of foreign investment -- not at all. He's
surveyed the issue and come out foresquare for -- you guessed it
-- a tax increase.
8
He's proposed to increase taxes on foreign investment in the
United States, each one of those companies that employ a total of
4 and one-half million Americans.
Governor Clinton says his new tax will raise $45 billion.
He might want to talk to his own Democrats on Capitol Hill. The
Joint Committee on Taxation says that estimate is about 45 times
too high.
Governor Clinton says his tax increase will "crack down" on
foreign companies, but all it will really do is drive them out.
And if they go, they'll take those jobs with them.
Travel around this state. Go to New Madrid (MA-drid), talk
to the 1200 employees at Noranda Aluminum -- or to Joplin, talk
to the 425 employees of Atlas Powder. Go to any of the 244
foreign-owned companies that employ 60,000 workers right here in
Missour
If Governor Clinton's tax hike had been in effect these past
few years, few if any of those companies would have located in
the United States -- few if any of those jobs would have been
created for Missourians.
And it's not just Missouri. Whether it's the Nissan plant
in XX Tennessee - whether it's the XX plant in xx, XX --
Governor Clinton's tax increase would be felt in every region of
every state of this country.
Governor Clinton forgets something about international
relations. If he raises this tax, our foreign competitors are
going to say: "What's good for the goose is good for the gander."
9
His tax is like a gilded invitation sent to foreign governments
where U.S. companies also do business. And the invititation
reads: "Please retaliate."
The result would be not just a reduction in investment here,
but a contraction worldwide. There was another occasion when
that happened. It was in 1930. Right before the great
depression.
No other major industrial nation has the kind of tax
Governor Clinton proposes -- not Germany, not Japan. But I can
tell you one nation that does tax foreign investment as he would
like: India.
Well, here's a promise I am proud to make: As long as I am
president, India will not be a model for how to conduct economic
policy in the United States of America.
So let's review the facts about Governor Clinton's tax: It
won't raise revenue. It won't create a single job. It will
discourage investment. And it threatens to start a trade war at
the very moment when markets the world over are opening up to
American products.
We should ask why, given all this, Governor Clinton would
ever propose such a tax in the first place. I can tell you why.
Today change is accelerating, and change breeds uneasiness,
skepticism, even fear. And by disparaging foreign investment,
Governor Clinton hopes to exploit the darker fears of this
uncertain age -- fear of the future, fear of the unknown, fear of
foreigners.
10
Well, let me tell Governor Clinton something: You can play
politics with but those are American jobs you're playing
politics with. Those are American workers you're putting at
risk.
The American people won't buy it. We're bigger than that.
The proudest people on earth have never stooped to fearmongers
?
before, and we're not going to start now.
In talking about America's future in the global economy, I
mentioned my own experience, because I want you to understand why
I believe what I do about America's ability to compete. Governor
Clinton takes a different view, and it is borne of his life
experience -- a life spent in government.
You see the difference on issue after issue. I understand
that you boost the economy by cutting taxes. I understand that
you cut the deficit by cutting spending. I understand that you
open markets by tearing down barriers -- by sitting down at the
table and hammering out a tough and fair agreement.
So the American people have a clear choice this year. It's
a choice between the patrons of the past and the architects of
the future. I believe we can shape what lies ahead -- not by
turning away from challenges but by doing what you here at PSE
have done. You didn't shrink from challenge, you embraced it.
You didn't shrink from competition, you met it head on. You
didn't retreat from foreign markets, you conquered them.
I have faith in America's future -- because I have faith in
the American people. It's the same faith that brought me out to
11
Texas more than 40 years ago -- the same faith that brought me
into public life -- the same faith that has led me to fight for
open markets -- because I know that no challenge is too great for
the American heart.
Thank you and God bless you.
# #
ED-
Apparently Gov. Ashcroft's
office honored Public
Safety Equipment Inc not
too long ago. Please get
Whatever cutations t remarks
from thems (Ashcroft's office, [ mean)
Andy
Thursday, August 27th: Missouri, Cincinnati, Findley, Ohio.
(Ferguson)
The news event of the day is the Missouri event. The President
will appear at a TBD plant that is an American subsidiary of a
foreign company. The speech should out line the President free
trade phi osophy.and agenda, then make the case that Governor
Clinton is a closet protectionist who doesn understand the
wor Id Reconomy. Specific cr icism shoul be levied at Clinton las
proposal to tax foreign inves tment and the President should list
the plants and jobs that would threaten in key states. Andy
should call Dan Crippen with the campaign for help in researching
the true impact of Clinton's proposals and developing a fact
sheet to accompany the speech.
The noon rally in Cincinnati will be outside, off cards. The
President should deliver the basic economi stump speech he
delivered in Connecticut, with a specific insert on trade,
summarizing the speech of the morning (with local anecdotes). We
will use the same speech for Findlay, Ohio that evening.
Friday, August 28th: Louisiana:
This event has just been added, so I'm not sure of appropriate
topic. Tuesday morning we will decide topic and make the
assignment.
CONGRESSMAN DICK ARMEY
JOINT ECONOMIC COMMITTEE
RANKING MINORITY MEMBER
26TH DISTRICT, TEXAS
United States Congress
Hashington, DC 20515
Larry Hunter USCOC
X 2979
Lowell Gallaway
FOR RELEASE AUG. 10, 1992
CONTACT: ED GILLESPIE
202/224-0374
GOP STUDY: CLINTON PLAN KILLS OVER 1.8 MILLION JOBS
WASHINGTON, D.C. (Aug. 10, 1992)--The first-year effect on employment of the tax
increases and Federal mandates on businesses contained in presidential candidate Bill
Clinton's economic proposal would be a net loss of more than 1.8 million jobs and an increase
in the unemployment rate of 1.5 percentage points, according to a study by Republican staff
economists at Congress's Joint Economic Committee (JEC).
According to the study, "Putting People Out of Work: First-Year Growth and
Employment Effects of the Clinton Economic Plan," the play-or-pay health care proposal is
the biggest job-killing component of the Clinton package. Such a mandate on businesses to
provide all workers with health care would result in the loss of more than 712,000 jobs in the
first year of its implementation.
Increased taxes on corporations and individuals would cost more than 437,000 jobs;
new environmental regulations in the Clinton plan would lose an additional 271,000 jobs;
indexing the minimum wage to the rate of inflation would stymie the creation of 42,000 new
jobs, and;
the new training tax would kill nearly 265,000 jobs.
Clinton's claims of creating new jobs through higher spending on Federal jobs programs
are more than offset by his promise to cut the Federal work force by 100,000 in his first year
and the size of his defense cuts, which would result in 240,685 defense industry employees
losing their jobs.
(continued)
THE WHITE HOUSE
Office of the Press Secretary
For Immediate Release
August 12, 1992
PRESS BRIEFING
BY
U.S. TRADE REPRESENTATIVE AMBASSADOR CARLA HILLS
The Briefing Room
9:07 A.M. EDT
MR. FITZWATER: Good morning. This morning's briefing
on the North American Free Trade Agreement is by Ambassador Carla
Hills, the United States Trade Representative. Ambassador Hills has
a brief statement which she would like to offer, and then will take
your questions.
Thank you very much.
AMBASSADOR HILLS: Good morning. The North American
Free Trade Agreement announced this morning is the product of
President Bush's vision of the economic growth that will occur
through hemisphere free trade. The President's marching orders to
his negotiators were simple: Bring home a deal that's in the best
interests of the American worker, consumer, exporter, and the
environment. And when such an agreement is in reach, seize it. No
sooner, no later.
And very early this morning we did just that. We
reached an accord that brightens America's future by making it and
all of this region more globally competitive. The bargaining was
intense, but always in good faith.
And I want to praise my counterparts, Mexican Secretary
of Commerce Jaime Serra Puche, and Canadian Minister of Trade and
Industry Michael Wilson, for their energy and their constructive
participation. But I especially want to praise and warmly thank
Ambassador Julius Katz, the United States chief negotiator; Chip Roh,
Assistant United States Representative for North American; Gary
Edson, General Counsel for the organization; and Kathy Lydon, who
heads our public and private sector section.
And I want to thank the vast U.S. interagency team
composed of negotiators from 10 agencies, whose efforts and
dedication made it possible for America to reap the enormous benefits
of this agreement. Never has an agreement offered such a balance of
economic growth, opportunity, workers' benefits, and environmental
sensitivity.
As President Bush pointed out early this morning, the
agreement will generate new high-paying jobs in America. More than
600,000 Americans now owe their jobs to our exports to Mexico, and
with this agreement, this number will swell past one million. More
than a million and a half Americans owe their jobs to our exports to
Canada. And these workers in exports-related fields earn 17 percent
more than the average American worker. Such gains would be reasons
enough to celebrate the conclusion of these negotiations. But I want
to tell you that the agreement we've negotiated is chalk full of
firsts. Let me just mention a few:
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- 2 -
For the first time, the Mexican market will be open to
U.S. autos and light trucks and auto parts.
This agreement is the first trade agreement that will
guarantee total market access in agriculture, a critical issue for
American farmers. And you should know that Mexico is our fastest-
growing, agricultural export market.
This agreement is the first international trade
agreement to eliminate quotas on textiles and apparel.
This accord is the first agreement to create free trade
in services, covering Mexico's $6-billion market in
telecommunications services, a $3.5-billion insurance market. And it
also creates open roads for U.S. trucking and bus companies carrying
international cargo to all of Mexico.
For the first time in 50 years, U.S. banks and
securities firms will be able to establish wholly-owned Mexican
subsidiaries. And the North American Free Trade agreement is the
first trade agreement to include far-reaching provisions to protect
and improve the environment. This agreement meets or exceeds
President Bush's commitments made last May to Congress. And it does
this by maintaining U.S. environmental safety, health standards, and
by allowing us to enact even tougher standards at the state level and
nationally, and by encouraging our partners to strengthen their
standards.
While this agreement is generating new and high-paying
jobs for Americans, it will safeguard U.S. workers against the threat
of injury from imports by ensuring that U.S. tariffs on sensitive
products are reduced gradually over more than a decade.
The successful conclusion of the North American Free
Trade Agreement is the latest achievement in the President's trade
policy. Far more markets are open to the United States today than
were open four years ago. And as a result, last year the United
States achieved its rightful place as number one exporter with $422
billion in exports worldwide. And exports have soared in all
sectors, from coast to coast. Since 1988, all 50 states have
expanded their exports around the world on average by 72 percent.
And this surge in exporting has generated almost $100 billion in
added output for American companies, and created over two million
jobs.
In sum, the President's consistent market-opening trade
strategy is paying off for American businesses and in the weekly
paychecks of American workers. And we look forward as an
administration to working closely with Congress and with our private
sector as we have done throughout these negotiations to make this
North American Free Trade Agreement a reality and a benefit for all
Americans.
Thank you so much. And I'm pleased to take your
questions.
Q
Ms. Hills, on the area of automobiles, is there a
standard on rules of origin? It goes up to 62.5 percent. Is that
phased in over any time period, and is that a corporate average or is
it by model?
AMBASSADOR HILLS: You've really read the fact sheets.
(Laughter.) It's by model averaging. It is phased in on a four-
plus-four year basis. And it does get to 62.5 percent of North
American content.
Q
Where does this start at?
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AMBASSADOR HILLS: It starts at 50, where it is today.
Q
When you mean four by four --
AMBASSADOR HILLS: Four years plus four years.
Q
What happens in the first four years?
AMBASSADOR HILLS: We'll phase up from 50, and there's a
mathematical formula -- don't ask me to give you that -- that will
get you to 62.5 in eight years.
Q
Ambassador, if you were going to try to explain
this to the Kiwanis Club in Des Moines, Iowa, today, how would you
explain it to them?
AMBASSADOR HILLS: I would tell them that Mexico is our
fastest growing export opportunity; that 70 percent of our growth to
our economy comes from our exports; that exports translate directly
to the bottom line into jobs; for every billion dollars worth of
exports, we generate 20,000 new jobs; and that this agreement not
only locks in the economic reforms and export opportunities that we
have secured to date, but builds upon them and creates a real job
machine at our back door.
Q Having read the fact sheet, the part on worker
adjustment doesn't seem to be as well laid out as is the rest of it.
The administration is saying only that it's going to consult with
Congress. Most of the opposition from the labor unions and others is
that there's going to be a lot of worker adjustment that needs to be
addressed. Have you any specific proposals that you're ready to
make?
AMBASSADOR HILLS: We are working very closely with
Congress to follow up on the negotiation agreement. It would be
inappropriate for us to draft the final worker adjustment program
until we knew what we had obtained in the agreement. But we have
worked closely with our Labor Department. We have had numerous
consultations with Congress. And questionnaires have been sent to
160 labor and business groups. We're well on our way with the
cooperation of Congress to building a bipartisan program that will
accomplish the needs of workers who are affected adversely by this
agreement.
But I am quick to say our economic studies show that
there will be net job gains, not losses, out of this agreement.
Q
But there will be a period of time where workers
are -- many workers are moved out of jobs, their jobs moved south, or
there are changes in those jobs. Have you at this point any
predictions based on what's in the treaty on how many people might be
affected, and any kind of estimate of what it's going to take to help
them, and what kind of programs the President is willing to offer?
AMBASSADOR HILLS: Let me take your questions one by
one. First of all, we do have economic analyses that show job gain
across a majority of all sectors. Second of all, the tariff
reductions, the reduction of our barriers, will occur gradually so
that the problems will not occur in the early years.
Notwithstanding, the President was absolutely committed to having a
program that was in place.
We have two programs that are in place -- the economic
dislocation worker adjustment program, which has been funded at a
half-decade high; and we are committed to try to create a new program
with Congress to deal with any unforeseen or dislocations that occur.
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0
There's been a theory that the workers most likely
to be displaced are those who are least skilled and whose jobs are
most easily transferred to a less expensive work force in Mexico.
Can you describe who you think is likely to be displaced? And even
though every prediction is there will be net gains, how many American
workers do you anticipate will lose their jobs even though the net
ends up with a job gain for the country?
AMBASSADOR HILLS: All of the economic studies show job
gains, not job losses. But let's face it, right now we have a one-
way free trade agreement with Mexico. Our average tariffs are below
four percent. So that when we put in this free trade agreement, that
does not mean that our protections are dramatically reduced so that
workers in sectors lose immediately protections they, frankly, have
been in a one-way free trade circumstance.
What this agreement does is to dismantle tariffs that
are 250 percent higher than ours; dismantle licensing that covers 25
percent of our agricultural exports; dismantle export performance
requirements that keep our transportation equipment out of Mexico;
and, in fact, create jobs for workers up and down the job skill. But
please note that jobs connected to exports pay 17 percent more than
jobs in our overall economy. So we not only see a greater job
creation, we see a better job creation.
Q
Ms. Hills, a couple -- if you'll forgive me, a
couple very discreet questions about the agreement. First of all, on
procurement, can you tell us what the transition period would be for
Mexico to reduce its barriers to U.S. procurement of Mexican
government contracts, whether PEMEX has made any commitments as to
how much of their contracts would be included in this phase-out
And secondly on autos, just briefly describe for us the
trade balancing and performance requirement phase-outs because it's
not in the details we've gotten here.
AMBASSADOR HILLS: John, on procurement, the transition
is that PEMEX, that is the state-owned monopoly covering oil and CFE,
which is the state-owned monopoly covering electricity, will put 50
percent of their procurement up immediately. That will expand to 70
percent over eight years. And on the 10th year there will be no
restriction at all. We think that's very good for our industry that
sells services and goods into Mexico and has never before had such
opportunities.
In the trade balancing, if I tell you the formula is
reduced by .8 down to .55, will you know more? Let me tell you that
the trade balancing is a formula whereby Mexico has greatly
restricted the ability of investment in Mexico to buy our
transportation equipment, and that those who have located in Mexico
in order to get around the trade barriers have been forced to use
local content. For the first time in history these trade barriers
will be eliminated, and in a decade, the auto-truck markets will be
wide open to competition. And that means that our companies can
rationalize, sell more goods throughout the region, and be more.
globally competitive It is really a first.
Q
When the Canada agreement was signed there was a
lot of confusion at the end and many of the details had to be worked
out after the agreement was formally made public. Is this agreement
complete in every single detail? Who will be involved in drafting
the documents to submit for public inspection in the Congress? And
when will Congress actually get these documents?
AMBASSADOR HILLS: Your recollection is correct. The
submission to Congress was far less detailed in the Canadian Free
Trade Agreement than what will occur on this occasion. We have a
detailed text, and after we shook hands this morning we turned to our
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lawyers who have been working side-by-side with us, and asked them to
give the document a legal scrub.
This is going to take a number of days because this is
the most comprehensive and complex free trade agreement that we've
ever entered into. I can't tell you precisely how many days, but
Congress will get a very good text, and with it, 40 reports from our
private sector advisors.
When we send the text forward and those 40 reports, that
constitutes the statutory notification of Congress and starts the
clock ticking before which we cannot sign the agreement. Congress
must have that agreement before it for 90 calendar days before the
President can sign the agreement.
Q
Will you be able to supply by noontime or earlier
the list of sensitive tariffs, what they are and how they're going to
be phased out? I'm talking about agriculture, beer, lumber,
glassware, horticultural --
AMBASSADOR HILLS: Yes. We certainly can supply those
of you who are interested in the detail of those sorts of items.
There are 9,000 tariff items, but we think we know those that you've
asked about in the past and we can give you that information.
Q
And if I could follow up. On the energy agreement,
it appears that Mexico has a bye from the short supply requirements
that is part of the U.S.-Canada agreement. Is that right?
AMBASSADOR HILLS: Yes. We do not have a provision that
is comparable to the security of supply in the Canadian agreement.
Q
Why?
AMBASSADOR HILLS: And that is because of the
limitations posed by the Constitution and the fact that we thought
the provisions that we got that opened up the electricity market,
back-to-back sales in the gas market, the procurement through PEMEX
and CFE, and the overall opportunities in the energy market were
extraordinarily important and valuable.
Q
A number of the nation's largest retailers who have
been following NAFTA negotiations very closely now, basically -- as
of last night have said that the provisions for textile, apparel
trade, so-called triple transformation, are so restrictive that it
will do them very little good, if any good. They've referred to
this, many of them, many from the largest companies -- refer to it as
the North American protection association. A number have vowed to
fight this as it comes before Congress. What response would you have
to these companies who say that they just could not get anything to
help them --
AMBASSADOR HILLS: I believe that when they see the
agreement and I have an opportunity to explain its ramifications,
they will be very, very pleased. You know, rule of origin is not a
protectionist device. A rule of origin is just a way in which we are
assured that the benefits negotiated within the region are for the
region. We're not raising our tariffs or restricting our quotas to
the outside world. Indeed, to the contrary. The tariff rate quotas
that accompany the rules of origin are dramatically increased, which
permit securing and buying from beyond the region. And we hope that
in our global negotiations, we can liberalize around the region.
But this is not a protectionist agreement, not at all.
And if you look at every one of the quota sectors, they have been
increased dramatically to enable North American retailers to buy and
textile manufacturers to buy in a broader spectrum than they had
before.
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Q
But just to follow up, if I could, please. Why not
in the NAFTA go with the so-called single substantial transformation
rule as in the case in U.S.-Canada FTA? This is for textile apparel.
Why not maintain the same provision?
AMBASSADOR HILLS: Because we have a very good fit with
Mexico, a country of 80 million on our border. And when we looked at
the trade statistics, we thought that the benefits in this sector
ought to be retained for the region. That that will make this region
more competitive. At the same time, we married it with provisions
that did not make more restrictive the access to the outside world.
The trade benefits -- when you start at fiber, yarn,
fabric, apparel and retailers -- are so balanced and so beneficial,
we have literally a stipulation from a majority including many, many
retailers that this is really an exquisite agreement to enable all
sectors to be more globally competitive.
Q
During the legal scrub, will there still be
consultations with negotiators from both countries on possibilities
of minor changes that may come up as resulting from questions that
your lawyers may have?
AMBASSADOR HILLS: of course, we'll be in contact with
the negotiators throughout the process, for as the lawyers find a
wording that is less than clear, as is inevitable in a document of
this complexity, they have to go back to negotiators and determine
exactly how to phrase this in a consistent and harmonious way with
all the provisions. But if you mean, will there be negotiations on
small points that are meaningful so that someone could be surprised,
no. We completed our negotiations last night.
Q
What takes effect immediately or pending the
approval of the agreement by the U.S. and Mexico and Canada? Is
there any significant thing that takes effect right now, today?
AMBASSADOR HILLS: The most significant thing is that I
have the pleasure of briefing the press on the provisions.
Q
All right. What about the agreement, though?
AMBASSADOR HILLS: The agreement is over there with a
corps of magnificent people from all three countries, trying to pull
it together and to work with our private sector so that they can
write their reports, evaluating it in its many parts. And when we
finish that, we will send it forth to Congress.
We anticipate that we may initial it, the three
governments may initial it, either immediately before or immediately
after we send the text to Congress. Suffice it to say that then the
90 days runs and sometime into the future, we'll have an opportunity
to sign the agreement.
But then, of course, it's not in force. Then that
simply means that we may sit down with Congress and work out the
implementing legislation which we will undoubtedly send forward in
the next Congress because we've run out of days in this session. And
Congress has 90 session days next year in which to approve the
agreement. That works out to about eight months.
So we have a good process and a significant time span
ahead of us.
Q
It's been reported that some of the President's
political supporters would have been just as happy to see this trade
agreement put off until after the elections. Was there any political
concern that this trade agreement will in any way hand organized
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labor, hence Democrats, some political ammunition to use against the
President?
AMBASSADOR HILLS: There have been lots of suggestions
that various sectors have their special concerns. But I can tell you
that I talked to the President on this issue on a number of
occasions; he believes so firmly in the benefits that will come to
the country from this agreement that he wanted no hesitation, no
delay, no manipulation of the time but, as I said at the outset, to
seize the agreement when it was ready and not before, no sooner, no
later. And that's exactly what we did. So we did not look at the
political clock, we looked at the agreement's content.
2
And is the White House confident that they can sell
this politically in the short term? Short term meaning between now
and November, of course.
AMBASSADOR HILLS: I think it's an obligation upon all
of us that have been connected with this, in my view, visionary
venture to get out and tell the American people what is in this
agreement and why we launched this negotiation, because it has
enormous benefits as the global economy is restructuring itself. You
know, today our growth to our economy depends upon exports. And
exports generate jobs. Therefore, if you want jobs; you've got to
have exports. And Mexico is our fastest growing export opportunity.
Mexico buys 35 percent more from us per capita today,
with all of its trade restrictions, than does the European Community
on a per capita basis.
Q
The opening material talks about the agreement
providing a framework for sustained liberalization of the energy
sector. What does that envision? Does that envision at some point
easing PEMEX's stranglehold on that sector?
AMBASSADOR HILLS: Well, there already has been an
agreement within this North American accord that eases up in the
energy sector. I've mentioned several segments. Petrochemicals is
by definition much more liberalized, which provides our chemical --
petrochemical companies much more opportunity. In the gas area we'll
be able to sell gas into Mexico, having negotiated directly with our
customer. In electricity we have opportunities that are expanded
there, I think in a very meaningful way. And, of course, in
procurement, when you talk about those who are sitting on rigs and
various other equipments that haven't been used because of the down
market, this offers a brand-new opportunity to get out there and
compete and offer their technology, which is the best in the world.
Q
The first is, you said there are 9,000 tariff items
--
AMBASSADOR HILLS: Roughly, give or take a thousand or
two.
Q
The briefing sheet says that the tariffs on 50
percent of those will be eliminated immediately --
AMBASSADOR HILLS: Correct.
Q
-- in 1994. Can you tell us what the distribution
is among the other classes, what percent will be eliminated in five
years, what percent in 10 and what percent in 15?
AMBASSADOR HILLS: Let me give you a rough estimate.
About half immediately; about 15 percent more in five years. And
then there are gradations that run out between six and 15 years. And
as it has already been requested, if you have special interest in
special sectors, I can give you that material immediately.
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I
My second question is this: Has your office or any
government office -- this is a softball question, you're going to
love it -- done any calculations or studies showing the benefit to
consumers either in terms of lower prices or increased choice as a
result of this agreement?
AMBASSADOR HILLS: There's no question that,
as I mentioned, our market is relatively open. But every trade
barrier you bring down you afford your consumer broader range of
choices at a lower cost. But we become more competitive by being
able to get our goods into Mexico. And I would point out, not only
do we create jobs because we keep our factories humming, in getting
those products in -- this year it will be $44 billion to Mexico --
but also Mexico spends 70 cents of every trade dollar in this
country, which, again, keeps our economy going.
or
Well, in three specific items, would you expect
prices for clothing, foods or autos to be lower or higher as a result
-- in the U.S. -- as a result of this agreement?
AMBASSADOR HILLS: On clothing, I think that there will
be a reduction of prices. On food, we are a net exporter of food and
Mexico is a net importer of food. But what we may be offering our
consumers is the broader range of choices where there is not an
overlap in seasonality. It means that if you want to get a
cantaloupe a couple of months later than you can get one down at your
Safeway this morning, that will be an opportunity afforded to you.
Q
Ms. Hills, there has been great concern along the
U.S. -Mexico border about the problem of infrastructure, not only
environmentally but also the crush of transportation that we might
see as trade increases. During your discussions with the negotiators
on the trade pact, has there been concern discussed on that issue,
and what seems to be the general feeling of how some of that could be
resolved?
AMBASSADOR HILLS: There has been discussion about the
problems at the border, which we acknowledge, and that caused the
President President Bush and President Salinas to agree that there
should be a master plan for the border, which they developed with
public participation both at the design and the implementation stage.
A real first for Mexico. But we held hearings in this country. It
was just very ably participated in by William Reilly, Administrator
of our Environmental Protection Agency. And we put together a plan
that is very constructive.
Pursuant to that plan, President Salinas has allocated
$460 million over the next three years to treat with the issues that
you address. And our administration has requested about $240 million
in this fiscal year. One of the things that we're going to have to
do is to be more effective with Congress, because our request for
sewage treatment plants at the border was cut back last go-around,
and we're just going to have to explain how important that is to the
environment and to the health of Americans in that region.
Q A follow-up on that question?
AMBASSADOR HILLS: Yes.
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AMBASSADOR HILLS: No, I would not. My recommendation
is that we have worked very hard to bring down taxes on trade so it
would expand and provide greater and more vibrant commercial
opportunity, which translates into jobs for our workers. We don't
want to kill that effort by levying taxes on the trade and start that
spiral all over again. And it would be a convenient excuse. Your
favorite cause, whether it be the environment, somebody else's
favorite cause, be it something else, it is bad economic policy in my
view to earmark funds. In a democracy, we should debate our
priorities and we should allocate funds out of general revenues.
But let me tell you there will be larger general
revenues on both sides of the border as a result of this agreement,
and therefore, I think we will be far better able to address the
concerns that you address.
Q
It seems awfully suspicious that you all finished
these negotiations exactly prior to the Republican Convention that
will take place precisely in Houston, a place that is very pro-free
trade agreement. How would you respond to that accusation?
AMBASSADOR HILLS: I got a question this morning that
suggested that many of the political advisors to the President were
saying don't go for it, hold it up. And you're asking a question
whether we speeded up the process as a result of politics. I can
only tell you quite honestly, the President told me to get a good
agreement, to get it as rapidly as possible so that we could harvest
the gains, but not to leave the table until we had a good agreement.
And this has been an intense period of time.
I think we have a good agreement, and I'm out to sell it
to the American people. And I can tell you quite honestly there was
no political timetable in this. And you don't handle a negotiation
with a clock on the wall that really has any effect at all.
Q But would you not agree that the timing of this
agreement may give credit to some of these allegations?
AMBASSADOR HILLS: No, I don't, because, you know,
there's an election someplace, sometime in every country. You know,
the Canadians have an election coming up, we have an election. If we
had waited a little longer, Salinas has an election. You know, you
just have to take your eyes of the political calendar. Trade is a
bipartisan venture. We have worked very, very closely with Congress.
I've had a meeting a day my staff and I have had a meeting a day
with Congress since these negotiations were commenced. There is not
one jot of this agreement that is not fully described to Congress,
and I mean to continue the process.
Q
A final softball, or a softball final question,
please.
AMBASSADOR HILLS: I will hold on to my wallet.
(Laughter.)
Q
You've said several times that you negotiated into
the night. Would you describe the final spurt of negotiations
leading up to when you signed it and how you signed it?
AMBASSADOR HILLS: Well, I suppose you could call it a
spurt; at 2:00 a.m. I didn't feel very spurty. It was all -- the
atmospherics were good. The last several days we've been down to the
very tough issues.
Q
Which ones are these?
AMBASSADOR HILLS: Well, they stretch across. There are
tough issues in each one of the sectors. Autos are difficult,
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agriculture is difficult, services are difficult, investment have
difficult problems for various countries. And we simply had to get
them all done in a manner that accompanied our objective, which was
mutually agreed, to get the market open across the board so that we
in this region could become more globally competitive. And that's
what we've done.
Q
Knowing what you know about this agreement and how
it's going to affect the economies of all the countries, what would
you advise a young person whose father or mother works in an auto
plant in Flint, Michigan, or in a glass plant in West Virginia? Would
you advise them to plan on following in their parents' footsteps or
should they train for another career?
AMBASSADOR HILLS: Autos, I think, will have a greater
opportunity by reason of reducing the barriers to a very large and
growing market in the North American region. It would let the auto
companies rationalize their production. And I have no doubt that the
auto companies will be better off as a result of the agreement as
well as auto parts manufacturers in all three countries.
Q
Where will their plants be, though, Mrs. Hills?
Isn't that what she's asking?
AMBASSADOR HILLS: The plants -- there will be plants in
this country, and there will be collaborative production throughout
the region. We want to tap the consumers that will number 100
million at the turn of the century, and we want to be able to supply
this market. So I have no doubt that there is competitive
opportunity in the auto industry and that that will provide good
jobs.
In the glass industry I think we also have competitive
opportunity. We tend to be super-competitive in the high technology
glass up the spectrum, less so in the lower cost or what we call
household glass. And if you're in the glass industry, I think it has
quite a future in the upper technology regions.
Q
Mrs. Hills, just a question. Could you explain for
us why it's appropriate to have a 62.5 percent local content
requirement for autos, but one for, say, computers that's probably
going to be less than 50 percent? And on a second question, could
you also tell us why the administration is able to estimate the
number of jobs that will be gained under this agreement, but has so
far been unwilling to tell us how many jobs will be lost to imports?
AMBASSADOR HILLS: Let me answer your second question
first because it's general. When you say jobs lost to imports from
Mexico, remember we have a one-way free trade agreement now with
Mexico. Our average tariffs are below four percent. We do not have
licensing that keeps their products out, so that you're going to have
a minuscule effect immediately. We will reduce those tariffs, but in
point of fact, I think that what we're doing is dismantling much
higher barriers to the exports of our products.
On your rule of origin question, let me say that in
every trade agreement we have multiple rules of origin. These are
complex questions. And what we're trying to determine is how do we
ensure that the product is made of the place, is of the place -- it
is not just transshipped from a fourth country -- to try to secure
the extra advantages that are afforded if you are manufactured in the
North American region.
So for one product it may be a 50 percent rule because
of the cost, labor and various calculations that determine how much
of the region makes it a North American product. For another product
it may be a different number.
Q
Less than 50 percent, is that a North American
product?
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AMBASSADOR HILLS: Well, it's at 50 -- we worked with
the computer industry. And as I recall it was less the value there
that they wanted and more of one of the three component parts. And
that we were able to negotiate. And that value is greater than the
other two. But that was what was significant to them in terms of a
North American product.
AMBASSADOR HILLS: One more question. Way in the back.
Q
If you can -- I don't know if you've been thinking
at all about GATT. But can you give us -- (laughter.) -- any kind of
an update? And if you can't, at least tell us what you think this
deal, the NAFTA agreement will have on the GATT negotiations?
AMBASSADOR HILLS: I hope that the fact it is very
visible that the United States is a leader in trade liberalization
that will generate trade, opening markets wherever we can, will
energize the negotiations, the global negotiations that are so
important with 108 countries. And so we continue to push for a
successful conclusion of that agreement, which would be a fabulous
backdrop to what we've been able to achieve in this region.
We have not raised one barrier to trade to the outside
world. We are not a protectionist nation. We have simply lowered
barriers to trade within the North American region. And we think
that a successful outcome of the GATT talks would be a wonderful
accomplishment. And we hope to be able to pull that off this year.
Thank you very much.
THE PRESS: Thank you.
END
9:50 A.M. EDT