It has been well documented that NAFTA has sent hundreds of thousands, perhaps millions of American jobs to Mexico. Because Mexican laborers are so cheap, and “free trade” bills allow the easy movement of capital – though not labor – across borders, manufacturers naturally choose to operate in the low-wage nation. They can then sell the goods back to America for cheap, ignoring the devastation caused by so many unemployed.
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A silent war has been declared on America, an economic war that has destroyed a major part of our economy. Unfortunately, since Americans were unaware of this war, there has been no public outcry for protective measures. We have opened our shores and our markets with “free trade”, a consistently proven disaster in the modern international economy. Our “free trade” policies have succeeded in doing nothing more than allowing foreign countries to pick off our industries through predatory pricing, dumping and buyouts.
After months of speculation, it appears a vote on Fast Track Trade Authority will occur late this fall after the elections. Key members of the Senate Finance Committee and the House Ways and Means Committee are working to reach a deal that would give the President substantial power to negotiate new so-called “free trade” agreements, while reducing Congress’s ability to determine what goes into the agreement.
“Free trade” agreements have flung America’s import-door wide open, and the repercussions are disastrous. Our economy is suffering greatly due to the explosion of foreign-made products flooding in. These products are manufactured overseas for $4 per hour or less, or in first-world nations that protect themselves with a value-added tax – the modern tariff. At such a low cost of labor and with other protectionist measures we do not have, they represent unfair competition for American-based manufacturers.
Those running our country seem oblivious to our present uncompetitive economic condition. Our leaders are running the nation like they did when we were wealthy, self supporting and free of debt. This is no longer the case. We are living off of debt and deficits and are no longer generating enough new wealth to meet our needs.