Crapo Statement at Hearing on President’s Trade Policy Agenda

Crapo Statement at Hearing on President's Trade Policy Agenda

Washington, D.C.-U.S. Senate Finance Committee Chairman Mike Crapo (R-Idaho) delivered the following remarks at hearing on the President's 2026 trade policy agenda.

As prepared for delivery:

"Welcome, Ambassador Greer.

"Thank you for appearing before the Finance Committee to discuss the President's 2026 Annual Trade Agenda.

"We appreciate you and your team working with us to reschedule this hearing.

"Trade policy remains a cornerstone of our nation's economic strength, our global leadership and our ability to create opportunities for American farmers, ranchers, businesses and workers.

"The trade landscape has evolved significantly since you last testified before the Committee on the President's trade agenda.

"Today's hearing is an opportunity to take stock of where we are and where we need to go.

"Together, the Administration and Congress can build a durable policy and enforcement regime around a fair application of longstanding American trade goals.

"First, U.S. trade policy must reflect our strategic priorities.

"The Administration has maintained a firm stance in addressing non-market policies and practices that distort competition and disadvantage American workers and companies.

"The Administration also continues to emphasize rebuilding domestic manufacturing capacity and securing critical supply chains.

"Second, U.S. trade policy must reflect economic realities.

"Market access matters. It remains a fundamental driver of American economic growth. American producers and service providers depend on the ability to compete fairly in global markets.

"Unfair and discriminatory barriers to U.S. exports must be removed-whether through tariff reductions, the elimination of non-tariff barriers or the establishment of clear and transparent rules-creating opportunities for businesses of all sizes and supporting high-quality jobs here at home.

"To understand why, we need look no further than to the U.S.-Mexico-Canada Agreement, or USMCA.

"USMCA supports 13 million American jobs; represents a 55 percent increase in investments in the U.S. from Canada and Mexico compared to pre-USMCA levels; and has led to $60 billion in exports in agricultural goods-nearly one-third of all U.S. agricultural exports.

"Third, market access must be paired with strong enforcement for USMCA and other trade agreements to remain effectual.

"Robust enforcement ensures a level playing field and sends a clear signal that the United States stands behind its farmers, workers and businesses.

"Fair market access and its enforcement are constantly tested by unfair trade practices used against our farmers and ranchers.

"Idaho producers often tell me about how these practices create significant economic hardships for our agriculture community, including among our dairy, onion, potato, sheep and sugarbeet industries.

"Meanwhile, a growing array of discriminatory measures in the form of digital services taxes, online content requirements and data localization target U.S. digital firms and restrict U.S. competition.

"These pose an existential threat to American innovation.

"Similarly, concerns with foreign pharmaceutical price controls are top of mind as the U.S. begins to negotiate pharmaceutical deals.

"Finally, business certainty in the trade environment is crucial for American industry to take full advantage of market-opening opportunities so they can grow and compete effectively.

"In all these matters, close collaboration and consultation between Congress and the Administration is essential to advance the policies needed to promote durable growth and fairness.

"A combined effort between Congress and the Administration is the most effective means by which to identify new opportunities for market access, strengthen enforcement tools and meet emerging challenges in the global trading system.

"The challenges and opportunities in global trade are complex, but they present a chance to strengthen our economy and reaffirm our leadership on the world stage.

"Ambassador, I look forward to continuing to work closely with you to advance a trade policy that delivers fair and open markets for the American people.

"Thank you again for joining us today, and I welcome today's discussion."