In the Wall Street Journal today, White House Hopes Trade Can Bolster Labor Market.
By increasing exports to rapidly growing countries like China and India, the U.S. could put a dent in joblessness and foster long-term economic growth without stressing the federal budget. But overhauling export policy is part of a White House approach that is in the early stages of execution.
Yes, there is a lot that can be done to improve our balance of trade and we finally, finally have an administration in charge that is interested in doing that. Under conservative policies we gave up so many of our exports, which cost so many jobs, and has put us in a disadvantaged bargaining position by borrowing so much from countries like China.
In the WSJ story two historical proponents of conservative policies unwittingly demonstrate just what I am talking about,
Some, including the U.S. Chamber of Commerce, complain that as long as a trio of stalled free trade agreements remain unratified, the administration is shunning the most direct way to quickly lift exports. …
“We need these agreements to make these guys as open to us as we are to them,” said Frank Vargo, vice president of international economic affairs at the National Association of Manufacturers.
“We need to make them as open to use as we are to them.” Right. Yes, we have trade policies now with these countries where our borders are open to their products but they are not open to ours. And just how did that happen?
The first part of fixing the jobs and trade deficit problem, while we wait to negotiate fair trade agreements that respect workers and the environment and boost standards of living on both sides of the border, is to send a message that we are not going to just hand our jobs and dollars out anymore. Let’s make our borders exactly as open to their products as their are to ours while adjusting for wage and environmental differences. How hard is that to get?
