The beginning of the school year is fast approaching. All across America, parents will be shopping for clothes and school supplies for their children. However, few, if any of the items they purchase will be made in America. Each sale contributes to America’s trade deficit.
Tag Archives: Trade Deficit
It is no secret that the United States’ trade deficit is through the roof. We have an alarming number of loans from foreign governments. Unfortunately, this places us in an unfavorable position because it allows other countries to influence our economic decisions. In fact, laws regulating what other countries can ship into the United States have been eliminated due to one-way “free-trade” agreements like NAFTA and the KORUS FTA.
The United States imports much of our gasoline from foreign countries — specifically Canada and Mexico via “free trade” agreements. However, we also import oil from more dangerous countries like Syria, Algeria, Chad, Saudi Arabia, the Democratic Republic of the Congo, Iraq, Mauritania, Columbia, Nigeria, and Pakistan.
For almost two decades the U.S. has been living with the results of joining the World Trade Organization(WTO). The WTO is a self-serving and undemocratic organization that operates outside of our control. The U.S. Constitution states that all treaties made under the authority of the United States become supreme law of the land (Article VI). When our government signed the WTO treaty, unbeknownst to most Americans – including our legislators – our sovereignty was given away.