Why Free Trade Is Failing America

No economic policy could better serve Americans than genuine free trade. But open trade policies are failing Americans.

Americans aren't sharing in those benefits because President Obama, like President Bush, permits China and others to cheat on the rules, unchallenged, to the detriment of the U.S. interests he was elected to champion. The World Trade Organization has greatly reduced tariffs, prohibits virtually all export subsidies, and regulates other national policies that could subvert trade, such as health and product safety standards arbitrarily slanted to favor domestic suppliers. For these rules to optimize trade, raise productivity and boost incomes, exchange rates must adjust to reasonably reflect production costs. To buy Chinese televisions, Americans must be able to purchase yuan with dollars; however, an artificially strong dollar that overprices U.S. tractors and software in China will unravel the benefits of trade by denying Americans opportunities to export to pay for those televisions. Exchange rates are established in currency markets, created by businesses trading through major financial institutions. Unfortunately, China and several other Asian governments blatantly manipulate those markets without a credible U.S. response and with ruinous consequences for American workers. The United States annually exports $1.6 trillion in goods and services, and these finance a like amount of imports. This raises U.S. gross domestic product by about $170 billion, because workers are about 10% more productive in export industries, such as software, than in import-competing industries, such as apparel.   Loading Comments...   < Previous 1 2 3 Next >

SHARE:

Featured Photo Galleries Go to Slideshow Archive

Connect with TheStreet

Business News From The Web

The Card Game: How Visa, Using Card Fees, Dominates a Market

New York Times

Exclusive: Apple to Buy Quattro Wireless for $275 Million

All Things Digital

Cardholders' mistakes can bring down authorized users' credit score

FOXBusiness.com

Cramped on Land, Big Oil Bets at Sea

The Wall Street Journal.

Tepper Turns Panic to Profits With $6.5 Billion Hedge Fund Gain

BusinessWeek Online

Unofficial Problem Bank List Change Summary

Calculated Risk

ING Direct ad takes advantage of Americans' amnesia about the stock market

Los Angeles Times

New year bug strikes German cards

BBC

10 Buys And 10 Sells For 2010

Forbes.com: Personal Finance News

The Muni Market: A Look Ahead to 2010

The Big Picture More Headlines Dow Jones S&P 500 NASDAQ 10-Year Note 10,536.87 1,132.24 2,300.26 37.53 Oil * 80.61 DOWN 47.09 DOWN 0.75 DOWN 8.16 DOWN 0.88 10 Yr 3.75% SPDR Gold 109.42 -0.44% -0.07% -0.35% -2.29% Data delayed 20 minutes More From TheStreet Latest Headlines Top Rated Stocks from TheStreet Ratings NEW: Market Data Section if (Math.floor(Math.random() * 100) < 45) { document.write("Stock Picks for 2010"); } else { document.write("Investment Ideas"); } Find returns with the Dividend Calendar if (Math.floor(Math.random() * 100) < 45) { document.write("UPDATED: Top-rated ETFs from TheStreet Ratings"); } else { document.write("UPDATED: Top-rated Mutual Funds from TheStreet Ratings"); } Twitter RSS Facebook YouTube adsonar_placementId=1341369;adsonar_pid=879768;adsonar_ps=-1;adsonar_zw=320;adsonar_zh=280;adsonar_jv='ads.adsonar.com'; Brokerage Partners YAHOO.util.Event.on(window,"load",function(){ setTimeout(function(){ TSCM.util.attachScript('scr_intellitxt','http://thestreet.us.intellitxt.com/intellitxt/front.asp?ipid=10685'); },1200); }); Sponsored Links var ads = [ { link:"http://ad.doubleclick.net/clk;220985354;4639705;p?http://www.cboe.com/learncenter/workbook_reg1.aspx", text:"FREE from CBOE's Options Institute: Mastering Options Strategies.", trk:null }, { link:"http://www.entrepreneur.com/business-opportunities/index.html?cam=thestreet&cid=Homepagetextlink1109", text:"Be Your Own Boss and Start your Own Business Today!", trk:null }, { link:"http://clk.atdmt.com/TNY/go/175928010/direct/01/", text:"Stretch out with fully flat beds. Fly Virgin Atlantic Upper Class.", trk:null }, { link:"http://ad.doubleclick.net/clk;221025362;4639705;a?http://www.gold101.com/request_information/", text:"Learn How to Buy Gold. Let Us Teach You Today!Superior Gold Group Gold101.com", trk:null }, { link:"http://www.usfunds.com/adclick.cfm?adid=2212", text:"What's Driving Gold? Learn more.", trk:null }, { link:"http://ad.doubleclick.net/click;h=v2|3BDF|0|0|%2a|h;220770099;0-0;0;44407284;31-1|1;34794952|34812830|1;;%3fhttps://us.etrade.com/e/t/jumppage/viewjumppage?PageName=power_et_for_active_traders_mvt&", text:"100 Free Trades. Open today at E*TRADE Securities.", trk:'http://ad.doubleclick.net/imp;v1;f;220770099;0-0;0;44407284;1|1;34794952|34812830|1;;cs=j%3fhttp://ad.doubleclick.net/dot.gif?' }, { link:"http://ad.doubleclick.net/clk;221194079;44703744;h?http://www.optionsxpress.com/promos/virtualtrade.aspx?cmpid=tlSTRcopyA", text:"Practice No Risk Trading at optionsXpress", trk:'http://ad.doubleclick.net/ad/N4417.no_url_specifiedOX2537/B4172134.3;sz=1x1' }, { link:"http://ad.doubleclick.net/clk;220815082;44534915;c?http://www.lvcva.com/campaigns?src=4130", text:"Las Vegas is serious about business. VegasMeansBusiness.com.", trk:'http://ad.doubleclick.net/ad/N5664.272508.7284099241621/B4167122.6;sz=1x1' }, ]; function __trackingpixel(url){ var ord = Math.floor(Math.random() * 100000000000); if(typeof url != "undefined") { if(url.indexOf('[timestamp]')!= -1) { url = url.replace("[timestamp]", ord); } return ""; } } var counter=-1; var limit = 3; function __write_textlink() { counter++; if(counter >= limit)return; var index = Math.floor(Math.random() * ads.length * 10 % ads.length); var it = ads.splice(index,1); var o = it[0]; document.write(''); document.write( o.text ); document.write( '' ); if(o.trk != null){ document.write(__trackingpixel(o.trk)); } if(ads.length > 0) { __write_textlink(); } else { } }; __write_textlink(); TheStreet Premium Services All Services Action Alerts PLUS Get free access to Cramer's portfolio picks at Action Alerts PLUS - Try it now Free RealMoney Jim Cramer's RealMoney team of 70+ Wall Street pros will give you wealth-building strategies - Get started Free RealMoney Silver Doug Kass + our 5 Premium Services - all in one place - Get a free 14-day trial today Stocks Under $10 David Peltier is ready to help you find affordable Stocks Under $10 which could lead to a big-money payoff - Get access to his portfolio FREE ETF Action Don Dion's brand new service can help investors at all levels build profitable ETF portfolios - Learn more document.write(unescape("%3Cscript src='" + (document.location.protocol == "https:" ? "https://sb" : "http://b") + ".scorecardresearch.com/beacon.js' %3E%3C/script%3E")); var beaconurl=""; if(TSC.util.isDefined(document)){ beaconurl=document.URL; try{ if (top.location != self.location){ beaconurl=document.referrer; } }catch(e){} } COMSCORE.beacon({ c1:2, c2:"6036014", c3:"", c4:beaconurl, c5:"", c6:"", c15:"" }); var pvar = { cid: "us-thestreet", content: "tsc", server: "secure-us" }; var trac = nol_t(pvar); trac.record().post(); View Directory Jim Cramer Doug Kass Market Movers Breakout Stocks Options Alerts Stock Under $10 RealMoney Don Dion's ETF Action Hot Topics: How to Invest in Gold - Fast Money - Motorola Droid - Cramer's Picks - Cash for Caulkers |    Hot Blogs: Undergraduate Investor - Wall Street Social Resources About Us Advertise Corrections Customer Service Employment Investor Relations Make a Suggestion Privacy Policy Readers' Feedback Sitemap Video Sitemap Subscribe Terms of Use Financial News Archive Topic Archive TheStreet Premium Services Compare All Services Jim Cramer's Action Alerts PLUS: Now any level of investor can trade right alongside a Wall Street pro â?? and enjoy 24/7 access to his portfolio! Learn More Login NEW! Don Dion's ETF Action: A concise two-step strategy for learning and trading in this increasingly lucrative area of investing. For all levels of investors! Learn More Login RealMoney: Jim Cramer's team of 70+ investment pros offer a daily wealth of fast-breaking market news... analyses... red-hot opportunities...and wealth-building strategies. Learn More Login RealMoney Silver: The genius of Doug Kass + 5 Premium Services = an unrivaled group of expert fundamental analysts, technical analysts, and Wall Street observers. Learn More Login Breakout Stocks: Bryan Ashenberg combines sophisticated screening software with eagle-eye analysis to find small and mid-caps ready to break out! Learn More Login Market Movers Deep in the Money Calls Stocks Under $10 Top Gun Trader TheStreet Ratings Daily Swing Trade Top Stocks ETF Shark Alerts Options Alerts try { function DM_onSegsAvailable(segs, cust_id) { for(var i=0;i

Quotes delayed at least 20 minutes for all exchanges. Market Data provided by Interactive Data. Company fundamental data provided by Morningstar. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Terms & Conditions. Powered and implemented by Interactive Data Managed Solutions.

TheStreet.com Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

IDC calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.

*Oil Data in Market Overview is Brent Crude Pricing

'); TSCM.ads.AdPlacerx.sz = "728x90"; TSCM.ads.AdPlacerx.resetTargets(); TSCM.ads.AdPlacerx.calltype = "adj"; TSCM.ads.AdPlacerx.includeDcopt = true; TSCM.ads.AdPlacerx.additionalTargeting = ";;storytype=opinion;kval=opinion"; TSCM.ads.AdPlacerx.writeTag(); TSCM.ads.AdPlacerx.sz = "233x224"; TSCM.ads.AdPlacerx.resetTargets(); TSCM.ads.AdPlacerx.calltype = "adj"; TSCM.ads.AdPlacerx.adtype = "cau"; TSCM.ads.AdPlacerx.additionalTargeting = ";;storytype=opinion;kval=opinion"; TSCM.ads.AdPlacerx.writeTag(); TSCM.ads.AdPlacerx.sz = "336x280,336x850,300x250,468x648"; TSCM.ads.AdPlacerx.resetTargets(); TSCM.ads.AdPlacerx.calltype = "adj"; TSCM.ads.AdPlacerx.additionalTargeting = ";;storytype=opinion;kval=opinion;;storytype=opinion;kval=opinion"; TSCM.ads.AdPlacerx.writeTag(); TSCM.ads.AdPlacerx.sz="336x280,300x250"; TSCM.ads.AdPlacerx.resetTargets(); TSCM.ads.AdPlacerx.setSite("remnant.thestreet.com"); TSCM.ads.AdPlacerx.additionalTargeting=";box=second"; TSCM.ads.AdPlacerx.calltype="adj"; TSCM.ads.AdPlacerx.writeTag(); var _isIE = false; /** * absolutley positions an ad using an existing container as an 'anchor' * can optionally update the height of the placeholder (cfg.flexibleHeight) */ TSCM.ads.positionToPlaceholder = function(cfg) { var Yud = YAHOO.util.Dom; var ad = Yud.get(cfg.ad); var placeholder = Yud.get(cfg.placeholder); if(!ad || !placeholder) {return}; if(cfg.flexibleHeight === true) { //option to update height of placeholder based on ad //thanks to IE, we can't do this the simple way with getStyle var height; if (_isIE) { //IE6, IE7 var adRegion = Yud.getRegion(ad); height = adRegion.bottom - adRegion.top; } else { height = Yud.getStyle(ad, 'height'); } //set default height for caus if height detect fails if (height === '0px' || height == '0' || height < '220' ||height === 'undefined' && placeholder.id === 'cauContainer') { height = '220px'; } Yud.setStyle(placeholder, 'height', height); } Yud.setXY(ad, Yud.getXY(placeholder)); //position the ad over the placeholder }; /** * function wrapper that places all DART ads using TSCM.ads.positionToPlaceholder * if positionToPlaceholder can't find the elements specified, it just returns and is ready for the next call */ TSCM.ads.placeLazyLoadingAds = function() { // DART 1 (banner) TSCM.ads.positionToPlaceholder({ ad: 'ad728x90', placeholder: 'bannerContainer', flexibleHeight: false }); // DART 1 (expander) //TSCM.ads.positionToPlaceholder({ // ad: 'expanderad', // placeholder: 'expanderbar', // flexibleHeight: false //}); //DART 2 TSCM.ads.positionToPlaceholder({ ad: 'customUnit', placeholder: 'cauContainer', flexibleHeight: true }); //DART 3 TSCM.ads.positionToPlaceholder({ ad: 'boxAd', placeholder: 'boxAdContainer', flexibleHeight: true }); //DART 4 TSCM.ads.positionToPlaceholder({ ad: 'secondBoxAd', placeholder: 'secondBoxAdContainer', flexibleHeight: false }); }; TSCM.ads.placeLazyLoadingAds() window.onresize = function() { setTimeout(function() { TSCM.ads.placeLazyLoadingAds(); }, 1000); };

The Card Game: How Visa, Using Card Fees, Dominates a Market

Exclusive: Apple to Buy Quattro Wireless for $275 Million

Cardholders' mistakes can bring down authorized users' credit score

Cramped on Land, Big Oil Bets at Sea

Tepper Turns Panic to Profits With $6.5 Billion Hedge Fund Gain

Unofficial Problem Bank List Change Summary

ING Direct ad takes advantage of Americans' amnesia about the stock market

New year bug strikes German cards

10 Buys And 10 Sells For 2010

The Muni Market: A Look Ahead to 2010

After the Bell

Before the Bell

Booyah! Newsletter

ETF Weekly

Midday Bell

TSC Top Ten Stories Newsletter

Winners & Losers

TheStreet Mobile Edition

Take Our Tour

Connect with TheStreet

Read Full Article »