Written by Mark Sanguinetti; Mark, the web author has a university Bachelor of Science Business degree, has a custom athletic uniform and screen printing business and is also licensed as a CA Real Estate Broker.
People like U.S. trade representative Michael Froman who favors the Trans-Pacific Partnership trade deal are now acting as lobbyists for multi-national companies so that the companies can outsource production to foreign countries where they can get cheap labor through the overvalued U.S. dollar compared to undervalued foreign currencies, for example in China and Vietnam. Also so they can avoid U.S. Taxes. Very small taxes on U.S. imports with much higher overall taxes on U.S. manufactured goods and their productive workers does NOT follow the original U.S. constitution and has resulted in very high yearly U.S. trade deficits.
Should any person representing their country as a trade representative when writing or talking about trade only mention exports and other related words such as exported, export, exporting, etc., and never mention import and its related words? As an example an article by Michael Froman published on May 10, 2015 in the San Francisco Chronicle newspaper has twelve usages of export and related words, with seven additional export usages in a chart as part of the article. There are zero usages of import and its related words. Shouldn’t a trade representative when writing about trade, be concerned with the trade balance of their nation? Balance of trade is the largest component of a country’s balance of payments. It is the difference between a country’s imports and its exports. A country has a trade deficit if it imports more than it exports. The opposite scenario is a trade surplus. Froman never mentions our high U.S. imports, which lose real wealth creating United States production and also lose higher paying jobs for the majority of U.S. employees with less tax revenue flowing into the United States treasury.
Trade deals passed by the United States have resulted in trade deficits of at least 350 billion dollars, $350,000,000,000 every single year since 2000, with no end in sight. The practical results of trade deficits is that we as a nation buy another nations goods and the other nation buys our assets such as real estate, gold, silver and other commodities or they lend us money through the purchase of government bonds. A Democratic Congressman, Alan Grayson from Florida’s 9th district, who has been an economist, understands this. So does Jeff Sessions a Republican Senator from Alabama, Sherrod Brown a Democratic Senator from Ohio and Bernie Sanders, an Independent Senator from Vermont understand the negatives of very high yearly U.S. trade deficits. Do other Congressional Members understand this?
Financial documents even provided to the Senate Finance Committee showed Michael Froman had nearly $500,000 in an offshore fund at Ugland House on the Cayman Islands, which Barack Obama has described as “the biggest tax scam in the world”. Information on this from the Wikipedia.org web site. Now Michael Froman and Barack Obama are working together in promoting their trade scam called TPP, Trans-Pacific Partnership.
Source: Mark Sanguinetti, Web Site Author