(Washington D.C.)- U.S. Rep. Sander Levin (D-MI), a senior member of the House Ways and Means Trade Subcommittee, today offered the following comments as the U.S Department of Commerce released its monthly trade deficit figures:

"The trade deficit figures released today only reinforce the need for strong Congressional Oversight by the new Congress. We need to make trade a two-way street so our businesses, workers and farmers have more opportunities in the global marketplace.

"With a $58.2 billion deficit in November 2006 - a small reduction in October's trade deficit - the United States is easily on track to shatter 2005's disturbing annual record level of $716.7 billion.  Since hitting August 2006's record monthly deficit of $68.5 billion, monthly deficit figures have been somewhat lower due to lower petroleum costs more than increased net exports.

"Similarly, our bilateral trade deficit with China in the first 11 months has already broken last year's record of $201.5 billion. Our November bilateral trade deficit with China was $22.9 billion - up nearly 25 percent over November 2005.

"The United States continues down a path of skyrocketing trade imbalances for a fifth straight year. The Congressional Oversight to reinvigorate our trade policies is long overdue."   

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