How big is the U.S. trade deficit problem, and why hasn’t anything been done about it? Our current annual trade deficits in goods are running at $650 billion along with related foreign borrowing to pay for them. As Warren Buffett warned us in 2003 in a cover article for Fortune Magazine, “Our trade deficits are selling America out from under us. We need to fix it now, and here’s how to do it!” He proposed legislation in 2006 to return to balanced trade with the rest of the world. But his proposal was buried in the Senate Finance Committee by “free trader” Chairman Max Baucus, no doubt with guidance by Wall Street lobbyists.
There’s new legislation drafted by a trade professional who cooperated with Mr. Buffett. Our bill is called “The Balanced Trade Restoration Act of 2014.” It’s partly based on Mr. Buffett’s bill, but it’s been toughened to limit the flow of imports that are taking over our market and destroying our domestic industries. We are asking trade advocacy groups to join us in seeking congressional support.
We would appreciate the USW’s help in spreading the word.
K.N. Davis Jr., Executive Director, Balanced Trade Associates
kndavis10@gmail.com
By clicking Sign Up you're confirming that you agree with our Terms and Conditions.
Are you and your coworkers ready to negotiate together for bigger paychecks, stronger benefits and better lives?