Raymond Richman - Jesse Richman - Howard Richman
Richmans' Trade and Taxes Blog
Obama's Trade Policy Agenda -- we're published in American Thinker this morning
Here's how we begin:
On March 1, 2010, Ambassador Ron Kirk, United States Trade Representative, disclosed "The President's 2010 Trade Policy Agenda." Although the agenda claims that the Obama administration has brought substantial change to U.S. trade policy, the policies it outlines have fundamental limitations likely to render its goals mere talk and its results insubstantial.
The agenda asserts that the administration's goal is "Making Trade Work for America's Working Families." The agenda asserts that "President Obama's economic strategy halted the slide into a deep economic crisis and laid the foundation for renewed American prosperity that is more sustainable, fairer for more of our citizens, and more competitive globally." But the facts are not so rosy. Since Obama was inaugurated, America's working families have lost 1 million more manufacturing jobs, the unemployment rate has soared from 7.7% to 9.7%, and real U.S. GDP has declined by 2.4%. The United States may be out of the recession, but isn't yet out of the depression.
The agenda announces that President Obama has set a goal "of doubling U.S. exports in the next five years" to create 2 million jobs. It creates a new bureaucracy called the Export Promotion Cabinet which will fund export promotion programs, tools for small- and medium-sized businesses, reduction in barriers to trade, and open new markets. According to the agenda, government officials, in their extreme wisdom, have selected which industries should be promoted, specifically:
To read the entire commentary, go to: http://www.americanthinker.com/2010/03/obamas_trade_policy_agenda.html
Journal of Economic Literature:
Atlantic Economic Journal: