U.S. and Hong Kong (1998)

USDA'S SCHUMACHER AT HOUSE TRADE SUBCOMMITTEE

Following is the text of Scumacher's testimony as submitted for the subcommittee's record.

(Note: In the text "billion" equals 1,000 million.)

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Statement by August Schumacher, Jr.
Under Secretary for Farm and Foreign Agricultural Services
U.S. Department of Agriculture

Before the House Ways and Means Committee Subcommittee on Trade

February 12, 1998

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American Global Competitiveness

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Four of 1997's top 10 markets for U.S. agricultural exports rose to
new highs. Records were set in exports to our NAFTA partners, Canada
and Mexico. Together, these two countries accounted for $11.7 billion
in U.S. exports this past year, 20 percent of our total agricultural
exports worldwide and greater than our sales to Japan. Records were
also set in exports to Hong Kong and Russia. However, we also
experienced declines in other top markets with value declines in
exports to three key Asian markets -- Japan, Taiwan, South Korea --
ranging from 10 to 12 percent, in 1997.

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