Trade enforcement needed to revitalize U.S. manufacturing
The Alliance for American Manufacturing (AAM) urged Senate leaders to confirm Wilbur Ross as the Secretary of Commerce in a letter sent this week.
The letter, published on AmericanManufacturing.org, outlines the need for the next Commerce Secretary to tackle the widening trade deficit, China’s massive industrial overcapacity, foreign currency manipulation, China’s state-owned investment in U.S. companies, trade agreements that don’t prioritize job creation, and lax trade enforcement.
Said AAM President Scott Paul:
“Wilbur Ross has been a leader in American manufacturing and supports policies to strengthen it, and that is something both Democrats and Republicans should get behind.
“Our manufacturing sector continues to be challenged by a gaping trade deficit and unfair trade practices that go unchecked. Trade enforcement will be key to revitalizing America’s manufacturers, and Mr. Ross’ firsthand private sector experience will be vital to improving our manufacturers’ competitiveness.
“Mr. Ross has proved his credibility among business leaders and workers, and we urge the Senate for a quick confirmation of Mr. Ross and all trade leadership, so we can advance our shared goals of stopping predatory trade practices and getting more of our manufacturers back to work.”
U.S. Trade Facts:
- Unfair trade practices like dumping, export subsidies, and currency manipulation drove the loss of one-third of U.S. manufacturing jobs since China’s entry into the World Trade Organization (WTO).
- U.S. bilateral trade deficit with China has more than quadrupled, from $83 billion in 2001 to $367 billion in 2015.
- Sixty-three percent of voters want strong enforcement responses should China violate its trade agreements.
- By a 55-35 margin, voters agree that we need to get tough on China and reject arguments that it would cause a “trade war.”