International Trade Policy
Trade is not only the life blood of expanded business opportunity, it is a leading-edge job creation tool. Public companies thrive when they can serve foreign markets. Historically in tough economic times, some policy-makers have reacted with protectionist tendencies. Protectionism can rear its head in tax policy, import quotas and other destructive devices. The most recent example of this trend was evident when the United States applied "Buy American" rules to its stimulus plan, creating distrust and confusion among our most collegial economic relationships in places like Canada, the UK and others.
Failure to open markets to our goods and services hurts job creation and workers. For several years now, critical Free Trade Agreements have languished before Congress without consideration. During this period of U.S. inaction, the European Union has concluded agreements with many of these same countries. These delays have also served to derail negotiations with other nations as they will not engage when they see that deals can’t be consummated.
The result is that U.S. products face higher tariffs around the world than our competitors. American public companies need strong markets at home and equal opportunity around the globe to grow and prosper.