ReMaking America includes a race to the top
Manufacturing is largely considered the backbone and foundation of a strong U.S. economy. With the Trans-Pacific Partnership (TPP) negotiations underway and the Transatlantic Trade and Investment Partnership (TTIP) just beginning, it’s important to remember that there are many ways to compete when it comes to manufacturing.
Alliance for American Manufacturing (AAM) President Scott Paul explains in ReMaking America:
Without more manufacturing, it will be virtually impossible to rebuild the middle class, reduce the trade deficit or innovate the next amazing generation of products. And smart observers have noted that the “race to the bottom” isn’t the only way to compete in manufacturing. We know America will never win such a race, nor should it want to. America is very good at winning races to the top.
U.S. Trade Representative Michael Froman echoed these thoughts at a recent event in Washington, but we're waiting to see action. A “race to the top” approach will have to include provisions to combat currency manipulation in new trade agreements, otherwise, American companies and jobs are at risk.
Find out more about currency manipulation and urge your representative to get tough on China’s currency manipulation.
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