Trade
12.10.2009
"Free trade" resulting from U.S. trade agreements such as NAFTA and CAFTA has resulted in huge trade deficits for the U.S., hurting our middle class workers who have lost jobs to outsourcing while corporations have scoured the world for the cheapest labor in countries with the fewest health, safety and environmental regulations. These agreements have enabled foreign countries to ship what their low-wage workers produce to the United States while blocking many U.S. products from entering their countries, all while we have bound ourselves to decisions of the World Trade Organization that hinder a fair trade balance.
Agreements for "free trade" should be re-examined and where warranted replaced with intelligent trade pacts that prevent foreign predatory practices such as: 1) demanding patented or trade secret protected technology in order to operate in that country or 2) abiding by foreign Value Added Tax (VAT) agreements that unjustifiably subsidize foreign exports to us, but simultaneously penalize our exports to those countries. At the same time, it must be profitable to manufacture in America.
The tax structure for industries vital to strategic American interests, such as steel, transportation and cement should be revisited. Out-of-control trade deficits place foreign companies in a position to purchase our best companies, such as in industries like publishing, autos, movies, steel, electronics and clothing, impacting national security and living standards in the United States.
We must take great care that we maintain ownership of vital strategic American interests. We must take great care not to drain our long term wealth as a nation for short term interests.
