Excerpts From President Bush's Speech at the John Deere-Hitachi Construction Machinery Corporation

And, finally, keeping this economy strong means welcoming opportunities that a global economy offers -- not fearing those opportunities. And this country is home to about 5 percent of the world's population, which means that 95 percent of potential customers live abroad. By opening up new markets for our goods and our farm products and our services, we will help our economy continue to grow and create opportunity for people right here in our country.

In Washington, there are economic isolationists, people who are afraid of new opportunities. I think they've got to have more faith in the American worker and in the entrepreneur. The folks in North Carolina are showing them why. Today, one of every 12 jobs in North Carolina is exported by -- is supported by exports. In other words, one in 12 of the people who work in this state do so because they're selling a product overseas. And it's just not what you're sending overseas that is helping North Carolina grow. More than 200,000 North Carolinians have jobs because foreign companies have chosen to invest in the Tar Heel state. In other words, this is a good place to be. All across America, we see the same story: Foreign businesses come here because they recognize the quality and the skill and ethic of the American worker. That's why they're coming. (Applause.)

This company is a good example of how trade has transformed American business.
In 1837, an Illinois blacksmith named John Deere fashioned a steel plow that let pioneer farmers cut through prairie soil. Today, the company that this guy started ships products -- ships combines made in Illinois to Russia. Interesting, isn't it? A lot of the Deere business is done overseas because the product is good. People want the Deere product. People realize that their society could become more productive if they use products made by John Deere.

You've got an advantage right here in Kernersville. You've got an interesting joint venture with Hitachi. This plant is actually "in-sourcing". Over the past four years, this factory has taken on production that used to be done in Japan and Mexico. You've tripled your workforce. That's what opening markets means. It means good, steady work. It means good opportunity. In the 21st century, no economy can afford to be an island. And to create new opportunities for our workers, we need to keep this economy open to trade and investment. And we've got to make sure that everybody else treats us the way we treat them, that we want to have free trade, and we want to have fair trade. (Applause.)

The textile industry in this state has been through tough times. I understand that. We just did a deal with Central America that says, you treat us the way we treat you. Do you realize products going from the United States to Central America were taxed? Products coming the other way weren't. It seemed to make sense to level the playing field, which we're in the process of doing. But it also means that by working together with Central American partners, North Carolina textiles are more likely to be able to compete with Asian textiles.

My predecessor worked to get China into the WTO. And one of the conditions was that the United States and other WTO members would take steps to prevent their markets from being flooded with cheap Chinese textiles. Last month, we reached an agreement with China to have them meet that obligation under the textile agreements. It's an important agreement. It means that not only are we for free trade with China, but we expect China to be fair with American textile companies and American workers. This agreement adds certainty and predictability for businesses in both America and China.

Here's what I believe. I believe free trade is good for jobs. I believe opening markets for U.S. products is smart to do. I know we've got to make sure we have a level playing field because when we have a level playing field, the American worker, the American entrepreneur, and the American farmer can compete with anybody, any time, anyplace. (Applause.)

The greatest opportunity we have to advance the goal of free and fair trade is through the Doha round of trade talks. The Doha trade round has great potential to boost jobs here in America. By reducing and eliminating tariffs and other barriers on industrial goods, and on farm goods -- industrial goods like John Deere products, by the way -- to end unfair subsidies, and open up global markets for our services. Trade ministers will gather in Hong Kong next week for a critical meeting. I told our Trade Representative, Ambassador Rob Portman, that he's got to push for a bold and wide-ranging agreement. Opportunity increasingly depends on a free and fair trading global system, and our administration is going to continue to use our influence to bring greater opportunities for the American worker.

You know, throughout the last century, we often heard pessimists telling us that our best days are behind us, and that the future belongs to others. Our grandparents heard the pessimists in the 1930s and 1940s say that the future belonged to the central planners. Our parents heard the pessimists again in the 1950s, when the Soviet Union launched the first satellite. Some of us remember hearing the pessimists in the 1970s and 1980s, when we were told that America was tired and could no longer compete with Japan. At that moment, Ronald Reagan's tax cuts were just beginning to kick in, and that set off one of the largest economic expansions in history. One newspaper editorialized about "the stench of failure" during that period of time.

You know, the great thing about our history when you look at it is the American people have always proved the pessimists wrong. At the start of a hopeful new century, the American worker is the most productive worker that human history has ever known. (Applause.) At the start of this new century, we have proven that pro-growth economic policies out of Washington, D.C., do work, and can overcome some mighty obstacles. At the start of the century, we recommit ourselves to the notion that the more free people are, the better off your economy will be. (Applause.)

This great country of ours is a place where people can start out with nothing -- and be able to raise a family, and own a home, or start a business. Through all my travels around the world, I'm always struck by how bright the future of America is. Our job in Washington is to keep that future bright and hopeful by making choices that reward hard work and enterprise. This economy is strong, and the best days are yet to come for the American economy. (Applause.)

I'm honored you let me come by. I'm always glad to come back to North Carolina. And I'm particularly pleased to be with the good, fine folks right here at the Deere-Hitachi plant. May God bless you and your families, and may God continue to bless our country. (Applause.)

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