WASHINGTON - U.S. Rep. Benjamin L. Cardin, Ranking Member on the Trade Subcommittee of the Ways and Means Committee, today expressed deep concern about the trade deficit figures released by the U.S. Department of Commerce, which show that the trade deficit reached $58.3 billion in January - the second highest monthly level in U.S. history. Last month, it was reported that the 2004 trade deficit was $617 billion, the highest ever - 24% higher than in 2003.

"This is very bad news for U.S. businesses and workers. Despite the falling dollar, the U.S. trade deficit defied expectations and grew in January. This just confirms my belief that we must be much more aggressive in fighting unfair trading practices to ensure our workers and businesses are competing on a level playing field," said the Congressman.

The Congressman has called for the United States to file more cases before the World Trade Organization (WTO) to enforce U.S. rights under trade agreements. He has been particularly critical of EU subsidies for Airbus, which have seriously hurt Boeing, and of China's manipulation of its currency.

"This is a no brainer. It is in our economic interest to aggressively pursue the remedies that are open to us," he said.

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