After months of being kept in silence, the cat is finally out of the bag. The World Trade Organization has officially ruled against the very popular Country of Origin Labeling (COOL). COOL would have forced beef suppliers to identify where the animal was born, raised, and slaughtered and give the American consumer a choice of whether they want to buy imported beef, or American beef. However, because of Canada and Mexico’s tantrum, the WTO struck down COOL, stating that “It puts Canadian and Mexican beef at an unfair disadvantage.” We are revealed yet again how the World Trade Organization trumps over U.S. legislation that benefits American citizens.
Tag Archives: China
Wake up! Where are our jobs?
They are being shipped overseas along with our wealth. Too many of our dollars spent on foreign manufactured products are spent directly on imports, including much of our capital equipment and strategic items like electronics, computers, transportation equipment, and other machinery.
Tariffs were originally set up by Alexander Hamilton, the first Secretary of the Treasury, to help protect American industries. During the Civil War, Abraham Lincoln, then leader of the new Republican Party, similarly implemented a 44% tariff to protect American manufactures and generate funds for the war and the construction of railroads. After World War II and during the Cold War, the U.S. government began lowering trade barriers and instituting what is known as “free trade.”
Our economic base is crumbling. The U.S. at one point used to manufacture more than any other country in the world. Times have changed significantly and now we rely heavily on imports to survive. The United States has not witnessed a trade surplus since 1975, and since then trillions of dollars have been lost through trade deficits caused by “free trade” on our end. “Free trade” has essentially led to the most massive wealth transfer in the history of the world. That is why we as American citizens need to be alarmed when we hear our elected leaders supporting “free trade” deals such as Senator Mitch McConnell.
It shouldn’t be much of a surprise, but China just took the US’s place in the world’s largest economy according to the International Monetary Fund. By the end of 2014, China will make up 16.48 percent of the world’s purchasing power while the US will make up 16.28 percent. While China has seen significant growth, their manipulative trade policies have inflicted a trade deficit of approximately $1.7 trillion over the last 5 years alone on the U.S. With this massive influx of cash they then use the dollars they accumulate to buy American firms, then ship the jobs back to China to keep the wealth-producing assets there. China’s trade war has cost the U.S. 2.8 million jobs over the last decade. So should we be shocked?