Opening Markets Through Negotiating Multilateral, Regional, and Bilateral Trade Agreements – Opening foreign markets creates opportunities for U.S. workers and farmers to sell their goods and services abroad. In the last four years, the Bush Administration has completed free trade agreements with twelve countries and is actively negotiating with ten more. This Administration also launched and is working to successfully conclude negotiations at the World Trade Organization to open markets globally for American exports. Working closely with Congress, the President will also seek extension of Trade Promotion Authority so that we can continue to create economic opportunities for American workers, farmers, and ranchers.
Of course, we know that Britain experienced unprecedented economic growth in the 1800s by unilaterally repealing trade restrictions starting with the Corn Laws in 1846. Other countries followed the example without benefit of negotiation and the world saw an expansion of trade and jobs that lasted until World War I and Britain benefited as much as or more than any other country. Negotiated free trade is probably the closest we can come and is certainly a good second best.
Personally, I’d like to see a Pacific Rim free trade zone to follow up on NAFTA – Russia’s great eastern frontier, South Korea, the ROC, Philippines, Indonesia, Malaysia and the USA. Talk about an economic powerhouse – Germany and France could take a hike and there’s enough oil in the region to stop worrying about the Saudis and deal with people who mostly like us.
Posted from the office where my broker is telling me that pajamas aren’t appropriate office attire and I’m responding back that I’m an independent contractor and that it’s pajamas or nothing because by God blogging is important!