Free Trade is touted by many Republicans as God’s answer to global trade stability and market based economics; and is decried by many Democrats as being God’s curse on global trade! Who is right? In truth they both are! So how can that be?
The answer is in how the concept of Free Trade has been destroyed by global “Managed Trade”. The R’s are right to sing its praises as to how global trade should be conducted. The D’s are right to curse the reality of it as it has been distorted by our “Trading Partners” and by our “intentional” blindness. Want to know what’s really happening? The answer is massive controlled, managed and manipulated trade.
Want proof? Proof is everywhere: in our trade deficits for the last 15 years, our massive loss of jobs in otherwise very productive and low cost manufacturers, our massive debt to China and others, and the destruction of our middle class. It’s also in the ever rising number of trade disputes going to world court and the anger building globally against the worst offenders.
So in the interest of bringing the policy wonks together in both parties, I would simply state that the last American President to get it right on how free trade must work, regardless of political party was, President Reagan. Now before those Reagan “haters” jump off the cliff of sanity, I would be willing to give that Presidents don’t get a lot of things right. Neither do you nor I. But when it comes to global trade and the importance of it functioning properly in a global environment, it must be Free, Fair, Rules-Based and supported…it must be.
Reagan’s position, as shown below using his words, gets it right! So, yes – both the R’s and D’s have it right to a point. So now for God’s sake and that of all future Americans and many other countries, please come together and get it right on global trade being Free, Fair, Rules Based and Enforced. It will be a game changing event for the entire world in a very positive way. Getting it right won’t be without pain and the gnashing of teeth, but it is a must.
“When governments assist their exporters in ways that violate international laws, then the playing field is no longer level, and there is no longer free trade.”
“When governments subsidize industries for commercial advantage and underwrite costs placing an unfair burden on competitors that is not free trade.”
“When governments permit counterfeiting or copying of American products, it is stealing our future, and it is no longer free trade.”
“When governments subsidize their manufacturers and farmers so that they can dump goods in other markets, it is no longer free trade.”
“I believe that if trade is not fair for all, then trade is free in name only. I will not stand by and watch American businesses fail because of unfair trading practices abroad. I will not stand by and watch American workers lose their jobs because other nations do not play by the rules.”
“We will vigorously pursue our policy of promoting free and open markets in this country and around the world. We will insist that all nations face up to their responsibilities of preserving and enhancing free trade everywhere. But let no one mistake our resolve to oppose any and all unfair trading practices. It is wrong for the American worker and American businessman to continue to bear the burden imposed by those who abuse the world trading system.”
Let’s do it together, it works!
Dan DiMicco is Chairman, President, and CEO of Nucor Corporation, the world’s largest recycler and the largest U.S. steel producer. He has emerged as a national leader in the movement to create a comprehensive agenda to restore strength and growth to American manufacturing. He has spearheaded a series of town hall meetings across the county to broaden awareness and spur political action to implement reform to international trade and domestic areas such as the American regulatory, legal, and health care systems. DiMicco continues to be a forceful advocate for returning manufacturing industries to a position of prominence in the American economic system.