Free Trade And The Global Economy/A Comparison Between The United States Chamber Of Commerce And The Afl Cio

1107 words - 4 pages

Free Trade and The Global EconomyWhat is free trade? How does free trade help the global economy? Are the current free trade laws helping the United States economy? The United States Chamber of Commerce views on free trade and the global economy differ from the AFL-CIO views. While the government seems determined to stay with the current trade issues in place, the AFL-CIO is demanding changes be made to protect workers worldwide.An arrangement that establishes unimpeded exchange and flow of goods and services between trading partners, regardless of national borders is the best definition of a free trade agreement. Free Trade Agreements (FTAs) can help a company enter and compete more easily in the global marketplace, by leveling the international playing field and encouraging foreign governments to adopt and maintain good rulemaking procedures. International trade is an integral part of the United States economy, supporting more than twelve million jobs and one-quarter of the United States gross domestic product. FTAs provide groundbreaking cooperation in promoting labor rights and protecting the environment. Forty-three percent of all United States exports in 2006 were to countries with FTAs and the percentages are expected to climb again in 2007.What's wrong with American products? Our government, by their own omission, supports sending American jobs overseas. In August alone, ninety-six thousand jobs were lost: sixty-four thousand by the goods-producing industry, the labor market lost four thousand jobs, and the government accounted for the remaining twenty-eight thousand. Our government claims that "unemployment rate held steady for the month at 4.6%." I find that statement difficult to believe!"Trade and investment grow the economy, create jobs, and lift incomes. Exports directly support an estimated 12 million good-paying U.S. jobs, and imports boost choice, quality, and purchasing power. Foreign direct investment in the United States supports another 5.1 million high-paying jobs." (Christman). But this is only true when there is a balance between exports and imports. This is where trade reports become invaluable because trade reports show balances and imbalances. The trade deficits in the United States hurt the economy. The largest imbalance ever recorded with any country was in 2006. "The imbalance between our imports and our exports is so enormous now that our exports would need to grow at least fifty-three percent faster than our imports just to keep the trade deficit from growing." (Trumka). A recent trade report showed the deficit with China shot up last year a total of two hundred thirty-two and one half billion dollars, just over a fifteen percent increase. China has surpassed Japan as the country with the largest trade gap with the United States in 2000 and has held that spot since.Is their any common ground between our government and the AFL-CIO? The answer is a surprisingly yes! "While it might be tempting to consign the...

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