Posted on 09/25/2009 2:26:09 PM PDT by nickcarraway
When it comes to free markets, Obama's message is mixed. The G-20 summit is a chance to provide some clarity.
President Obama is in favor of free trade. Except when he isn't. Free trade creates jobs and lowers prices, as he freely acknowledges. But he also insists that American workers must be shielded from foreign labor practices that threaten job security. During the presidential campaign, Obama indicated that he was open to renegotiating the North American Free Trade Agreement, even as an advisor quietly reassured Canadian officials that he wouldn't tamper with free trade on the North American continent.
Nine months into his administration, Obama's trade policy is a pastiche of pro-trade rhetoric, violations of international agreements and protectionist bobbing and weaving. That's why the U.S. can expect rebukes from its economic allies when the Group of 20 meets in Pittsburgh today. Obama's recent decision to impose stiff tariffs on tires made in China is a clear violation of the vow made by all G-20 members not to raise barriers to trade, goods and investment.
Invoking a section of the Trade Enforcement Act meant to permit U.S. industry to adapt to competition from China, Obama raised tariffs for three years: by 35% the first, 30% the second and 25% the third. But restricting Chinese tires won't save American jobs; imports from Mexico and other countries will certainly fill the void. The president, of course, is aware of this probability, but he appears willing to bend on trade principles to achieve political objectives. The United Steelworkers union, which sought the tariffs, is on board with healthcare reform, and Obama's action helps secure its support. Moreover, it comes at low risk. A full-on trade war seems unlikely; China has taken the dispute to the World Trade Organization.
(Excerpt) Read more at latimes.com ...
he is for free trade for everyone but usa
Obama just stated he is going to eleminate the Fossil Fuel Credit.
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Sell stocks and buy a bike!!!!!!
“President Barack Obama is calling on the world to end massive government subsidies that encourage the use of fossil fuels blamed for global warming.”
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Said this 2 days ago. He is dead serious on this one...Pay attention.
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