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Trade, Jobs, and Manufacturing
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Press Release

Trade, Jobs, and Manufacturing

ABSTRACT FROM CATO Imports, contrary to popular opinion, have no negative effects on the overall employment level, and most Americans do not work in sectors that face competetion from imports. By trading for goods that can be produced at a relatively cheaper price abroad, the United States must focus on producing goods and services that can be produced at a relatively cheaper price domestically. Therefore, trade encourages investment in those sectors with higher worker productivity, and consequently, higher wges and salaries. Most Americans work in service sectors that face little or no import competition, and for them, imports give more choice for consumers, encourage innovation, and raise wages. Workers in manufactoring and farming sectors that have some import competition make up a small percentage of total workers. In fact, technology and other factors caused more lost jobs than imports did. Trade barriers do not save jobs, and thus policy should encourage creating new jobs.

09/30/1999
The Blessings of Free Trade
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Press Release

The Blessings of Free Trade

ABSTRACT FROM CATO

05/01/1998
Capitol Comment 177 - The U.S. Should Bail Out of the IMF
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Capitol Comment

Capitol Comment 177 - The U.S. Should Bail Out of the IMF

If the U.S. Congress approves bailing out the financially troubled Asian nations and replenishing the International Monetary Fund (IMF) for future bailouts, American taxpayers will be footing the bill for the mistakes of other countries.

03/06/1998
Issue Analysis 66 - The Sanctification of Sanctions
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Press Release

Issue Analysis 66 - The Sanctification of Sanctions

The following is an excerpt from a speech delivered at a Citizens for a Sound Economy Foundation "Congressional Staff Education Luncheon" on September 15, 1997.

10/30/1997
The Fast Track to Freer Trade
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Press Release

The Fast Track to Freer Trade

ABSTRACT FROM CATO

10/30/1997
Capitol Comment 171 - Free Trade: Fast Track to Prosperity
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Capitol Comment

Capitol Comment 171 - Free Trade: Fast Track to Prosperity

On September 16, President Clinton finally introduced his legislative proposal for renewing fast track authority to negotiate trade agreements. This authority, which expired in 1994, would allow the president to negotiate trade pacts that Congress must approve or disapprove by a simple up or down vote. Therefore, members of Congress — and the special interests who attempt to influence them — could not amend trade agreements during the legislative process.

10/13/1997
Issue Analysis 33A - Don't Break the China
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Press Release

Issue Analysis 33A - Don't Break the China

"The elimination of China's normal trade status, rather than advancing human rights and the rule of law, would actually harm those in society most dedicated to their promotion." -- Secretary of State Madeleine K. Albright The Washington Post June 10, 1997 The U.S.-China Relationship

06/13/1997
Capitol Comment 160 - Can You Differentiate a Taxpayer From a Consumer at the Grocery Store?
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Capitol Comment

Capitol Comment 160 - Can You Differentiate a Taxpayer From a Consumer at the Grocery Store?

The federal sugar program fixes the price of sugar bought in the United States at roughly double the world price, costing consumers 1.4 billion dollars a year.1 Yet, program supporters claim the program does not hurt Americans, pointing to the small budget cost to the taxpayer. The distinction between a taxpayer and a consumer is a curious one -- since the two cannot be distinguished at the checkout line. In fact, consumers are hit twice by the program. First, with higher taxes -- regardless of how "small" the burden is -- and second through higher prices for the food they purchase.

06/13/1997
Capitol Comment 159 - Why America Should Renew MFN for China
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Capitol Comment

Capitol Comment 159 - Why America Should Renew MFN for China

Members of Congress will soon be asked to vote on the unconditional extension of China's most-favored-nation (MFN) trading status for one more year. Legitimate reasons for concern over various policies implemented by the Chinese government do exist. However, revoking China's MFN trading status is at best the least effective -- and at worst the most counter-productive -- manner in which to affect those policies. It would be devastating for both Americans and the Chinese if Congress imposes trade barriers between the citizens of these two countries.

06/12/1997

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