Hello. As you may have just read in the Trade Week bulletin or in
the newspapers, Clinton showed off a letter from economists stating
their support for the Uruguay Round. I think we should let people
know that not all economists are for this thing. Would any of you like
to craft a letter and seek signatures from your colleagues that we
could then distribute?
Thanks-
Kai Mander
Communications Director
Institute for Agriculture and Trade Policy (IATP)
1313 5th St.,SE, Suite 303
Minneapolis, MN 55414-1546 USA
Tel: (612) 379-5980 Fax: (612) 379-5982
Email: [EMAIL PROTECTED]
I'm attaching a copy of the White House's press release on the pro-
GATT letter for your information.
THE WHITE HOUSE
Office of the Press Secretary
________________________________________________________________________
For Immediate Release August 4, 1994
STATEMENT BY THE PRESS SECRETARY
President Clinton Receives Letter from 450 Economists
Urging Prompt Ratification of GATT Agreement;
Welcomes Support For Quick Passage
President Clinton received a letter today from 446 economists
urging Congress to approve the Uruguay Round agreement immediately.
Professor Bob Baldwin of the University of Wisconsin delivered the
letter to Vice President Gore and CEA Chair Laura Tyson meeting in the
Old Executive Office Building this morning.
President Clinton welcomed their support, saying "Economists know
that the GATT agreement will help ensure long-term economic growth for
America. GATT will add as much as $100 to $200 billion to the United
States economy every year when fully implemented. That means hundreds
of thousands of new jobs for American workers. Congress should pass
GATT now so that the American people can begin to reap the benefits of
expanded world trade as soon as possible."
In their letter, the economists warned against postponing
ratification of the agreement until next year:
"We believe that implementing this legislation will provide
substantial benefits to most Americans. Postponing the legislation
until 1995 will delay these benefits and will burden the efforts of
U.S. firms to expand their foreign markets. Delay will also weaken
the international leadership position of the United States."
Three of the economists signing the letter had also signed the
famous 1930 letter to President Hoover that warned against passage of
the Smoot-Hawley Tariff Act. The President expressed his appreciation
for their counsel:
"In his NAFTA debate last year, Vice President Gore made clear that
the Smoot Hawley Act sharply increased U.S. tariffs and helped touch
off the Great Depression. More than sixty years ago, these three men
were wise enough to champion free trade and economic growth in the
face of tremendous public opposition. We should heed their advice
today and pass the GATT now."
Four Nobel laureates in economics signed the letter: Robert Solow,
Paul Samuelson, Kenneth Arrow, and James Tobin.
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