Obama’s trade polices leave much to be desired
Friday, April 9, 2010
Not that he has much of a trade policy at all, but one of President Obama’s aims has been to pressure on U.S. trade partners to enforce the terms of the trade agreements they signed up to. Well, Barack, this “enforcement agenda” would carry a whole lot more credibility if you took the first step.
And, guess what, we’re still waiting. US exports have been targeted by Brazil, who were able to impose duties worth almost $900 million (but haven’t, yet), and Mexico, who have already imposed duties on $2.4 billion that have cost almost 30,000 American jobs. These measures are entirely legal, because the World Trade Organisation says the United States have violated trade commitments. And, instead of righting their wrongs by removing the policies that violate world trade rules, the Obama administration appears intent on digging itself into a deeper hole, as the recent “solution” to the Brazilian cotton subsidies attests.