Obama Vow to Get Tough on Unfair Trade Called ‘Long Overdue’

[Omaha Steve]

http://www.businessweek.com/news/2012-01-26/obama-vow-to-get-tough-on-unfair-trade-called-long-overdue-.html

January 26, 2012, 11:04 AM EST

By William McQuillen

Jan. 25 (Bloomberg) -- President Barack Obama’s vow to get tough on unfair trade practices was welcomed by manufacturers frustrated with losing market to countries such as China.

In last night’s State of the Union address, Obama said he is creating a new trade enforcement group that would use investigators and other federal resources to combat unfair trade practices in nations including China. He also called on Congress to create a program to provide credit to companies competing against foreign counterparts that benefit from preferential credit from their governments.

“It’s long overdue,” Scott Paul, the executive director for the Alliance for American Manufacturing, a trade group that includes the Pittsburgh-based United States Steel Corp., said yesterday in an interview. “We have seen 10 years of China gaming the system and I think the president has a very good record with China.”

Obama called for tax cuts for U.S. manufacturers, increased deductions for making high-technology products in the U.S., and financing assistance for new plants, equipment and training.

FULL story at link.

[Scootaloo]

1. But does it apply to our own unfair trade practices?

After all, it's our federal subsidies putting the agricultural sectors of Latin America and the Caribbean out of business. it's cheaper to buy Iowa corn in Mexico than it is to buy Mexican corn.

[MichiganVote]

2. Believe it when I see it.

[JDPriestly]

3. Lower the taxes on manufacturers who produce their goods in the US

and raise them on individuals who receive capital gains from their investments.

That is the way to encourage people to invest and make products in the US.

I have always supported a VAT tax, but this is another way to achieve the same result, a good way.

[rhett o rick]

4. Where the hell has this Obama been in the last three years? nm