FOR IMMEDIATE RELEASE, Contact: (202) 225-1721
July 6, 1998
No. TR-28
Congressman Philip M. Crane (R-IL), Chairman, Subcommittee on Trade of the Committee on Ways and Means, today announced that the Subcommittee will hold a hearing on United States-Japan trade relations. The hearing will take place on Wednesday, July 15, 1998, in the main Committee hearing room, 1100 Longworth House Office Building, beginning at 1:30 p.m.
Oral testimony at this hearing will be from both invited and public witnesses. Invited witnesses include the Honorable Richard Fisher, Deputy United States Trade Representative. Also, any individual or organization not scheduled for an oral appearance may submit a written statement for consideration by the Committee or for inclusion in the printed record of the hearing.
BACKGROUND:
Buying almost $66 billion in U.S. products annually, Japan ranks second only to Canada as the largest market for U.S. goods and services. However, the persistent bilateral trade deficit with Japan ($56 billion in 1997), although attributed in large measure to macro-economic imbalances between the two countries, continues to focus attention on achieving steady improvements in market access for U.S. goods and services.
In 1993, the United States concluded the Framework for a New Economic Partnership with Japan. This umbrella agreement identified macro-economic goals and outlined areas for sector specific and structural negotiations. The Administration has negotiated 19 agreements under the Framework in key sectors such as automobiles and auto parts, financial services, and investment. In 1997, the United States concluded nine new agreements with Japan, the most comprehensive of which was the Enhanced Initiative on Deregulation and Competition Policy, announced by President Clinton and Prime Minister Hashimoto in June. The World Trade Organization (WTO) and Asia Pacific Economic Cooperation Group (APEC) also offer significant opportunities for the United States to work cooperatively with other countries to break down trade barriers to U.S. exports in the Japanese market.
The recent financial crisis facing Asian economies, including the sharp economic downturn in Japan, has highlighted the fact that recovery of the Japanese economy, which accounts for almost three fourth's of the total Gross Domestic Product of East Asia, is key to pulling the entire region out of recession. Observers have noted that economic events in Asia may slow the growth of the U.S. economy. As a result, the Administration has urged Japan to accelerate efforts to undertake broad structural reforms such as deregulation of its economy, fundamental reform of the banking system, improving transparency, and opening its distribution system to eliminate exclusionary and discriminatory business practices.
FOCUS OF THE HEARING:
The focus of the hearing will be to review overall U.S. trade policy toward Japan and to evaluate the effectiveness of the various sectoral agreements, as well as other trade initiatives in APEC and the WTO, in increasing U.S. market access in Japan. The hearing will address the current bilateral trade agenda, including the outcome of WTO dispute settlement cases involving Japan, the effects of the Asian financial crisis and the economic downturn in Japan on bilateral trade relations, and prospects for necessary systemic reforms and economic recovery in Japan.
DETAILS FOR SUBMISSIONS OF REQUESTS TO BE HEARD:
Requests to be heard at the hearing must be made by telephone to Traci Altman or Bradley Schreiber at (202) 225-1721 no later than the close of business, Thursday, July 9, 1998. The telephone request should be followed by a formal written request to A.L. Singleton, Chief of Staff, Committee on Ways and Means, U.S. House of Representatives, 1102 Longworth House Office Building, Washington, D.C. 20515. The staff of the Subcommittee on Trade will notify by telephone those scheduled to appear as soon as possible after the filing deadline. Any questions concerning a scheduled appearance should be directed to the Subcommittee on Trade staff at (202) 225-6649.
In view of the limited time available to hear witnesses, the Subcommittee may not be able to accommodate all requests to be heard. Those persons and organizations not scheduled for an oral appearance are encouraged to submit written statements for the record of the hearing. All persons requesting to be heard, whether they are scheduled for oral testimony or not, will be notified as soon as possible after the filing deadline.
Witnesses scheduled to present oral testimony are required to summarize briefly their written statements in no more than five minutes. THE FIVE-MINUTE RULE WILL BE STRICTLY ENFORCED. The full written statement of each witness will be included in the printed record, in accordance with House Rules.
In order to assure the most productive use of the limited amount of time available to question witnesses, all witnesses scheduled to appear before the Subcommittee are required to submit 200 copies, along with an IBM compatible 3.5-inch diskette in WordPerfect 5.1 format, of their prepared statement for review by Members prior to the hearing. Testimony should arrive at the Subcommittee on Trade office, room 1104 Longworth House Office Building, no later than close of business Monday, July 13, 1998. Failure to do so may result in the witness being denied the opportunity to testify in person.
WRITTEN STATEMENTS IN LIEU OF PERSONAL APPEARANCE:
Any person or organization wishing to submit a written statement for the printed record of the hearing should submit six (6) single-spaced copies of their statement, along with an IBM compatible 3.5-inch diskette in WordPerfect 5.1 format, with their name, address, and hearing date noted on a label, by the close of business, Wednesday, July 29, 1998, to A.L. Singleton, Chief of Staff, Committee on Ways and Means, U.S. House of Representatives, 1102 Longworth House Office Building, Washington, D.C. 20515. If those filing written statements wish to have their statements distributed to the press and interested public at the hearing, they may deliver 200 additional copies for this purpose to the Subcommittee on Trade office, room 1104 Longworth House Office Building, at least one hour before the hearing begins.
FORMATTING REQUIREMENTS:
Each statement presented for printing to the Committee by a witness, any written statement or exhibit submitted for the printed record or any written comments in response to a request for written comments must conform to the guidelines listed below. Any statement or exhibit not in compliance with these guidelines will not be printed, but will be maintained in the Committee files for review and use by the Committee.
1. All statements and any accompanying exhibits for printing must be submitted on an IBM compatible 3.5-inch diskette in WordPerfect 5.1 format, typed in single space and may not exceed a total of 10 pages including attachments. Witnesses are advised that the Committee will rely on electronic submissions for printing the official hearing record.
2. Copies of whole documents submitted as exhibit material will not be accepted for printing. Instead, exhibit material should be referenced and quoted or paraphrased. All exhibit material not meeting these specifications will be maintained in the Committee files for review and use by the Committee.
3. A witness appearing at a public hearing, or submitting a statement for the record of a public hearing, or submitting written comments in response to a published request for comments by the Committee, must include on his statement or submission a list of all clients, persons, or organizations on whose behalf the witness appears.
4. A supplemental sheet must accompany each statement listing the name, company, address, telephone and fax numbers where the witness or the designated representative may be reached. This supplemental sheet will not be included in the printed record.
The above restrictions and limitations apply only to material being submitted for printing. Statements and exhibits or supplementary material submitted solely for distribution to the Members, the press, and the public during the course of a public hearing may be submitted in other forms.
The
Committee seeks to make its facilities accessible to persons with
disabilities. If you are in need of special accommodations, please
call 202-225-1721 or 202-226-3411 TTD/TTY in advance of the event
(four business days notice is requested). Questions with regard to
special accommodation needs in general (including availability of
Committee materials in alternative formats) may be directed to the
Committee as noted above.