{"id":60452,"date":"2023-03-28T04:00:06","date_gmt":"2023-03-28T08:00:06","guid":{"rendered":"https:\/\/cablemanpro.com\/wallstreetpr\/the-one-thing-biden-could-do-right-now-to-turn-our-economy-around-60452"},"modified":"2023-03-28T04:00:06","modified_gmt":"2023-03-28T08:00:06","slug":"the-one-thing-biden-could-do-right-now-to-turn-our-economy-around","status":"publish","type":"post","link":"https:\/\/cablemanpro.com\/wallstreetpr\/the-one-thing-biden-could-do-right-now-to-turn-our-economy-around-60452","title":{"rendered":"The one thing Biden could do right now to turn our economy around"},"content":{"rendered":"
\n

Sometimes what isn\u2019t said is just as important as what is said. So, when President Joe Biden spoke for one hour, 12 minutes and 40 seconds during his State of the Union address<\/a>, the <\/strong>American business community noticed something was lacking \u2014 he barely mentioned the word “trade.”<\/p>\n

Is trade no longer important to our State of the Union<\/a>? As a matter of fact, it\u2019s more important than ever. The number of jobs supported by trade has nearly tripled in the past 30 years to\u00a041 million. That\u2019s one in every five U.S. jobs, a share twice as large as three decades ago.\u00a0<\/p>\n

Trade is the beating heart of economic growth and job creation in this country. Trade results in lowers costs for American consumers\u00a0\u2014<\/strong>\u00a0something that is desperately needed at a time when families struggle with high prices caused by inflation. <\/p>\n

But the president\u2019s speech speaks volumes about the administration\u2019s view of trade. U.S. Trade Representative Katherine Tai <\/a>recently lamented how, in her judgment, “Trade became a game of numbers, a race to the bottom \u2014 while a handful of corporations and elites reaped their gains, working families and communities were left behind.”\u00a0<\/p>\n

BIDEN’S TRADE REP SNAPS AT GOP LAWMAKER WHO SAID SHE WAS ‘TOO NICE’ FOR THE JOB: ‘I DON’T NEED YOUR PITY’<\/strong><\/a><\/p>\n

Further, Tai has\u00a0called\u00a0free-trade agreements “a very 20th\u00a0century tool,” suggesting that we don\u2019t want to “we don’t spend years\u00a0and\u00a0spend\u00a0a\u00a0lot\u00a0of\u00a0blood,\u00a0sweat\u00a0and\u00a0tears working\u00a0on\u00a0something\u00a0that isn\u2019t relevant to the need of our people and our economies.”\u00a0<\/p>\n

If those comments \u2014 made by the administration\u2019s top trade adviser \u2014 reflect their views on this critical topic, then it\u2019s no wonder they have shown little interest in pursuing any market-opening trade deals. The truth is, these views aren\u2019t supported by the facts, by U.S. business or by the American people.\u00a0<\/p>\n

Those millions of jobs created by trade pay really well.\u00a0According to the\u00a0U.S. Department of Commerce, manufacturing jobs tied to exports pay wages that are, on average, 18% higher than non-export-related jobs pay.\u00a0<\/p>\n

And it\u2019s remarkable how little support this defensive view of trade<\/a> actually enjoys.\u00a0<\/p>\n

Congress doesn\u2019t agree<\/i>. Democrats and Republicans have been\u00a0lining\u00a0up\u00a0in hearings to ask: Where\u2019s the market access that new free trade agreements (FTA) provide? With 95% of the world\u2019s consumers living outside our borders, exporting more Made-in-America products can be an engine of growth.\u00a0<\/p>\n

MOST AMERICANS DON’T BELIEVE THEIR CHILDREN WILL BE BETTER OFF: POLL<\/strong><\/a><\/p>\n

The American people don\u2019t agree<\/i>. By nearly a two-to-one margin, Americans are “more likely to see foreign trade as an opportunity for economic growth rather than a threat to the economy,” according to\u00a0Gallup.\u00a0<\/p>\n

Most economists don\u2019t agree<\/i>.\u00a0Survey\u00a0after\u00a0survey\u00a0of economists finds strong and widespread expert support for open trade and rejection of protectionism.\u00a0<\/p>\n

The U.S. business and agriculture communities certainly don\u2019t agree<\/i>. American farmers and ranchers depend on exports, and FTAs are how they secure better access to foreign markets. Similarly, nearly half of U.S. manufacturing output is exported, but high tariffs in big emerging markets can be insurmountable.\u00a0<\/p>\n

CLICK HERE TO GET THE OPINION NEWSLETTER<\/strong><\/a><\/p>\n

Business services are increasingly tradable thanks to the internet, but this source of growth may be cut off without new FTAs to set rules of the road and keep the digital trade lanes open.\u00a0<\/p>\n

Trade enhances not only our standard of living but our standing in the world. America\u2019s military leaders<\/a> are quick to point out their preference for the “soft power” of trade and diplomacy over the “hard power” of military force: The former is a bargain compared to the latter \u2014 both in terms of treasure and of blood. Simply put: trade pacts enhance our national security, forging deeper ties with allies at a time when we need to stand up to increasingly aggressive autocratic forces. <\/p>\n

A decade has passed since the U.S. has added a new country to the list of 20 where we have FTAs. Meanwhile, the WTO\u00a0reports<\/u><\/a>\u00a0that other countries have inked more than 100 in this period.\u00a0<\/p>\n

Trade agreements don\u2019t have to be hard. Does anyone really think an FTA with the UK, our closest ally, couldn\u2019t win overwhelming support from Congress? Why can\u2019t we resume negotiations with Kenya<\/a>, an exciting economy that could give the U.S. a model for closer engagement with Africa?\u00a0<\/p>\n

A market-opening trade agenda is an obvious part of a pragmatic government agenda. It will spur growth and opportunity without adding to the deficit or fueling inflation<\/a>. It would help the nearly 300,000 small businesses that are exporters.\u00a0<\/p>\n

If Biden truly wants to strengthen the state of our union, he should start not only talking about trade <\/strong>but pursuing the kind of deals that lift up our entire country. <\/p>\n<\/div>\n

Source – https:\/\/www.foxnews.com\/opinion\/thing-biden-do-turn-economy-around <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Sometimes what isn\u2019t said is just as important as what is said. So, when President Joe Biden spoke for one hour, 12 minutes and 40 […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[16563],"tags":[],"stock_ticker":[],"class_list":["post-60452","post","type-post","status-publish","format-standard","hentry","category-market-news","entry"],"acf":[],"yoast_head":"\nThe one thing Biden could do right now to turn our economy around - Wall Street PR<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cablemanpro.com\/wallstreetpr\/the-one-thing-biden-could-do-right-now-to-turn-our-economy-around-60452\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The one thing Biden could do right now to turn our economy around - Wall Street PR\" \/>\n<meta property=\"og:description\" content=\"Sometimes what isn\u2019t said is just as important as what is said. 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