By Todd Tucker, Eyes on Trade Princeton economist Uwe Reinhardt had an interesting post on trade last week on the NYT website that will probably spark some debate. He writes: The economist’s case for free trade is cobbled together from the toolkit labeled normative economics, a branch of economic analysis that seeks to identify what is efficient and what is not and, thus, what is good policy and what is not — and, therefore, what should and should not be done.
By Devin Dwyer, ABC News State and local governments, which spend close to $2 trillion annually on goods and services, are increasingly trying to leverage their purchasing power to favor American businesses and create jobs. Twenty-one states had "Buy American" laws through 2009, according to the National Association of State Procurement Officials, and nearly every state has implemented preference statutes for buying from in-state producers, many added since the recession began.
by Scott Horsley, NPR The Obama administration is hoping to win quick approval for its new free-trade pact with South Korea, but that deal may be held up by two trade agreements with Colombia and Panama that the White House says aren't ready yet. House Republicans insist that all three be considered together.
By Ian Fletcher, The Huffington Post Skepticism about free trade is often stigmatized with ad hominem attacks. These mostly come down to variations on the following: "Protectionists are dummies, losers, incompetents, hippies, rednecks, dinosaurs, closet socialists, or crypto-fascists." Thomas Friedman's version in The World is Flat (the Das Kapital of Globalism) runs thus: Let's face it: Republican cultural conservatives have much more in common with the steelworkers of Youngstown, Ohio, the farmers of rural China, and the mullahs of central Saudi Arabia, who would also like more walls, than they do with investment bankers on Wall Street or service workers linked to the global economy in Palo Alto, who have been enriched by the flattening of the world.
In February, job growth in the manufacturing industry showed promise by adding 33,000 jobs, but also revealed areas where uncertainty has a dampening effect on job creation. Manufacturers still have a long, long way to go in the economic recovery.
R-CALF USA has just released its 2011 report titled “U.S. Trade Balance in the Trade of Live Cattle, Beef, Beef Variety Meats, and Processed Beef: Decades of Neglect,” and the picture it paints is that the promises made by free trade idealists have not materialized for cattle producers, and the U.S. continues to accumulate huge trade deficits in beef and cattle under the North American Free Trade Agreement (NAFTA), the Central American Free Trade Agreement (CAFTA), as well as the U.S.-Australia Free Trade Agreement.
Watch the video here: Click below to see videos of everyday Americans who are living every day buying and using American goods - and in doing so, creating jobs right here at home.
U.S. manufacturers and machine shops purchased a total of $446.76 million in machine tools and related products and supplies during December 2010, according to the monthly U.S. Manufacturing Technology Con-sumption report. The total indicated a rise of 40.9% over the $318.18 million in sales recorded for November 2010, and up 104.8% over the $218.16 million of sales for December 2009. In addition, the December total brings the total 2010 manufacturing technology consumption total to $3,236.00 million, an 85.3% increase over the total sales for 2009.
By Patrick J. Buchanan Last year, Barack Obama committed his administration to doubling U.S. exports in half a decade. The good news: He is on the way. U.S. exports of goods and services grew in 2010 by 16.6 percent. Bad news: U.S. imports, starting from a higher base, surged by 19.7 percent.
The majority of Americans say the United States has lost its position of being the world's strongest economy by allowing its manufacturing base to whither and shift offshore. They want the federal government to focus on creating a national manufacturing strategy that leads to more jobs and a rebirth of manufacturing.