With little
fanfare, new trade agreements favored by the Obama administration were passed
by both houses of Congress this week.
The agreements with South Korea, Colombia, and Panama were dubbed by the
media as "the most significant expansion of trade relations in nearly two
decades" (The Washington Post,
10/13/11.) These agreements,
particularly the one with South Korea, have the potential to create 280,000
American jobs and boost U.S. exports by more than $12 billion.
At the risk of
sounding like a pessimist, or worse yet, a naysayer, the new trade agreements
leave me feeling more skeptical than hopeful.
First of all, although the agreements had been stalled in Congress, both
houses suddenly and quickly passed them.
Anything that's passed so easily by the present Congress, especially by
the Republicans, is, in my opinion,
automatically suspect. It usually means
that the middle class is getting screwed, while the rich get richer.
Secondly, the
stalled China trade aka "China currency" bill has not been passed,
leaving me even more concerned. This
bill would significantly benefit United
States workers because it would levy a U.S. tariff on exported goods from China
in order to stop China from manipulating its currency to gain a larger share of
the export market. In my opinion, this
measure is long overdue, and would result in leveling the playing field for
U.S. exports, thereby decreasing the U.S. trade deficit with China and potentially creating more U.S.
jobs.
To be sure, how
the new trade agreements ultimately pan out will be decided by how well they
are implemented, i.e., how well they are monitored and regulated. According to the Obama administration, it
has included "high standards for protecting labor rights and environmental
concerns" (The Washington Post, 10/13/11) in the agreements with Colombia and
Panama. But what of the agreement with
South Korea, potentially the riskier of the agreements for workers in the U.S? While exports are predicted to increase as a
result of all of the new agreements , the amount of imports to the U.S.,
particularly from South Korea which has the 15th largest economy in the world,
will likely increase, possibly cancelling out the positive benefits for American
workers.
The
track record for U.S. trade agreements has not been good news for American
workers in recent years. Take the North
American Free Trade Agreement (NAFTA), for example. This agreement between the United States,
Canada, and Mexico created the largest area of free trade in the world, and
involves approximately 450 million workers, producing about $17 trillion in
goods and services. However, according
to the most recent data (2009), NAFTA has resulted in a total of $397 billion
in exports from the United States, while imports to the U.S. total $438 billion
- a net trade deficit of $41 billion for the United States. Former President Clinton, who signed NAFTA, appearing
on David Letterman last week, said that the success of a trade agreement depends
largely on how well the agreement is regulated, and implied that NAFTA has not
been regulated as intended.
A significant part of the
present Republican plan for creating jobs is to do away with regulation. Presumably, this would include the regulation
of trade agreements, making it even easier for U.S. corporations to outsource
U.S. jobs, and import products from foreign countries. Let's
hope that the Republican plan is not the
plan that Congress or we, the people, support,
and that for our sake, all trade agreements are well--regulated.
************
We create and keep U.S. jobs when we demand, promote, and buy
Made in USA
goods and products.
Keep warm in cooler
weather with a good, hot, tasty cup or bowl of Made in USA soup. The best soups, of course, are the ones
homemade from scratch with locally-grown or grown-in- the-USA produce, raised-in-the-USA
meat, poultry, or seafood, and other Made in USA ingredients. However, if you
don't have the time to make your own, these ready-made soups, produced in the
USA, are a good option. If your favorite
is not listed here, chances are it is made elsewhere (but being human, I could
overlook something.) Check labels before
buying others, and feel free to post your own research to this blog. Remember, "distributed by" or
"manufactured by" does not mean it was made here, regardless of the
company address!
This week's recommended products:
·
Nature's Promise "Naturals" soup - Product of USA by Foodhold USA, LLC,
Landover, MD
·
Campbell's Chunky, Select Harvest, and Condensed
soups (canned and
microwaveable) - Cooked in USA by Campbell's Soup Co., Camden, NJ
·
Maruchan Ramen, Instant Lunch, and Yakisoba
soups - Made in USA by
Maruchan, Inc., Irvine, CA
·
Shore Lunch soup mix - Made in USA by Sportsman Recipes, Inc.,
Rome, GA
·
Kitchen Basics Vegetable, Chicken, Seafood,
and Beef cooking stock
- Product of USA by Kitchen Basics, Brecksville, OH
·
Streit's Matzo Ball and Soup mix, and Egg Drop
soup mix - Product of USA by
Aron Streit, Inc., New York, NY
·
Manischewitz Ball Soup, and Matzo Balls in
Broth (canned in glass jars), and
Matzo Ball and Soup mix - Product of USA by The Manischewitz Co.,
Secaucus, NJ
·
Annie Chun's soup bowls - Product of USA by Annie Chun, Inc., San
Rafael, CA
·
Eating Right soup cups - Product of USA by Lucerne Foods, Inc.,
Pleasanton, CA
·
Dr. McDougall's soup cups - Product of USA by Dr. McDougall's Right
Foods, San Francisco, CA
·
Safeway soup mix - Product of USA by Safeway, Inc.,
Pleasanton, CA
Blog Sources:
"Congress approves 3 trade accords," Zachary Goldfarb
& Lori Montgomery, The Washington
Post, 10/13/11
http://www.dailykos.com/story/2011/09/28/1020990/-Reid-holding-vote-on-China-trade-bill-before-Obamas-jobs-plan
http://www.ustr.gov/trade-agreements/free-trade-agreements/north-american-free-trade-agreement-nafta