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NBC Admits Bill Clinton's NAFTA has been a Nightmare for USA, Needs Trump to fix it!

 
Anonymous Coward
User ID: 71563015
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07/29/2016 04:59 PM
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NBC Admits Bill Clinton's NAFTA has been a Nightmare for USA, Needs Trump to fix it!
We need a tough negotiator like Trump to fix US trade policy

Wilbur Ross and Peter Navarro

Tune in to CNBC's "Squawk Box" on Monday, August 1. Wilbur Ross will be a guest.

Republican presidential candidate Donald Trump is threatening to leave the World Trade Organization and rip up agreements like the North American Free Trade agreement, and his critics predictably are branding him everything from "wrong-headed" to "insane." But here's the real deal.

When our politicians and diplomats negotiate trade deals, we lose because they don't know a good deal from a bad one. For instance, when President Bill Clinton signed NAFTA in 1993, he believed it would "create 200,000 jobs in this country by 1995 alone." Instead, the U.S. has lost over 700,000 jobs, according to the Economic Policy Institute, while our trade deficit with Mexico has rocketed from $1.6 billion in 1993 to $60 billion in 2015, according to the Commerce Department.

Clinton also lobbied for China's entry into the World Trade Organization (WTO) in 2001, promising China would "play by the same open trading rules we do." Instead, the U.S. has had to file WTO case after case against China's questionable trade practices on products ranging from apparel, aircraft, and autos to shrimp, steel, and textiles.

Despite numerous WTO "victories" for the U.S., most have been pyrrhic. It takes years to adjudicate a case. In the interim, American companies go bankrupt, China takes over the market, and the court ruling becomes moot. This happened to Bethlehem and 30 other steel companies that went bankrupt waiting for relief.

As a second glaring flaw, many of America's trading partners rely on value-added taxes, and WTO rules permit VAT rebates on export sales. However, the U.S. has no VAT — yet our exports don't receive similar corporate income-tax rebates. While Congress has tried three times to modify our laws to get equal treatment, each modification was rejected by a hostile WTO, giving foreign competitors a huge tax-break edge.

The WTO also provides little or no protection against four of the most potent unfair trade practices many of our trade partners routinely engage in — currency manipulation, intellectual property theft, and the use of both sweatshop labor and pollution havens. America's status as the largest market in the world with a freely floating exchange rate and the world's most advanced set of environmental and work safety regulations makes us a defenseless victim.


[link to www.cnbc.com]
Anonymous Coward (OP)
User ID: 71563015
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07/29/2016 05:01 PM
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Re: NBC Admits Bill Clinton's NAFTA has been a Nightmare for USA, Needs Trump to fix it!
Are you reading this People, the world is upside down!
Anonymous Coward (OP)
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07/29/2016 05:03 PM
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Re: NBC Admits Bill Clinton's NAFTA has been a Nightmare for USA, Needs Trump to fix it!
Hello are any of you reading this???
Anonymous Coward (OP)
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07/31/2016 04:31 PM
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Re: NBC Admits Bill Clinton's NAFTA has been a Nightmare for USA, Needs Trump to fix it!
bump for the brain dead
Anonymous Coward (OP)
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07/31/2016 05:07 PM
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Re: NBC Admits Bill Clinton's NAFTA has been a Nightmare for USA, Needs Trump to fix it!
bump
hankie
Everything

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07/31/2016 05:25 PM

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Re: NBC Admits Bill Clinton's NAFTA has been a Nightmare for USA, Needs Trump to fix it!
I did and found it on the interesting side to say the least.
Sorry I got a headache

These are the times that tries men's and
women's souls!

May we come though it victorious!
Anonymous Coward
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08/02/2016 08:36 AM
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Re: NBC Admits Bill Clinton's NAFTA has been a Nightmare for USA, Needs Trump to fix it!
I did and found it on the interesting side to say the least.
 Quoting: hankie


very interesting
Anonymous Coward
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08/02/2016 08:44 AM
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Re: NBC Admits Bill Clinton's NAFTA has been a Nightmare for USA, Needs Trump to fix it!
NAFTA/CAFTA, WTO, IMF--the whole bureaucratic, greedy alphabet has destroyed a lot of countries, a lot of lives. Inherently self-serving for the elite, for multinational corporations.
Anonymous Coward
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08/02/2016 09:18 AM
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Re: NBC Admits Bill Clinton's NAFTA has been a Nightmare for USA, Needs Trump to fix it!
bump
Question EVERYTHING
Traveler In The Matrix

User ID: 58101700
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08/02/2016 07:17 PM

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Re: NBC Admits Bill Clinton's NAFTA has been a Nightmare for USA, Needs Trump to fix it!
We need a tough negotiator like Trump to fix US trade policy

Wilbur Ross and Peter Navarro

Tune in to CNBC's "Squawk Box" on Monday, August 1. Wilbur Ross will be a guest.

Republican presidential candidate Donald Trump is threatening to leave the World Trade Organization and rip up agreements like the North American Free Trade agreement, and his critics predictably are branding him everything from "wrong-headed" to "insane." But here's the real deal.

When our politicians and diplomats negotiate trade deals, we lose because they don't know a good deal from a bad one. For instance, when President Bill Clinton signed NAFTA in 1993, he believed it would "create 200,000 jobs in this country by 1995 alone." Instead, the U.S. has lost over 700,000 jobs, according to the Economic Policy Institute, while our trade deficit with Mexico has rocketed from $1.6 billion in 1993 to $60 billion in 2015, according to the Commerce Department.

Clinton also lobbied for China's entry into the World Trade Organization (WTO) in 2001, promising China would "play by the same open trading rules we do." Instead, the U.S. has had to file WTO case after case against China's questionable trade practices on products ranging from apparel, aircraft, and autos to shrimp, steel, and textiles.

Despite numerous WTO "victories" for the U.S., most have been pyrrhic. It takes years to adjudicate a case. In the interim, American companies go bankrupt, China takes over the market, and the court ruling becomes moot. This happened to Bethlehem and 30 other steel companies that went bankrupt waiting for relief.

As a second glaring flaw, many of America's trading partners rely on value-added taxes, and WTO rules permit VAT rebates on export sales. However, the U.S. has no VAT — yet our exports don't receive similar corporate income-tax rebates. While Congress has tried three times to modify our laws to get equal treatment, each modification was rejected by a hostile WTO, giving foreign competitors a huge tax-break edge.

The WTO also provides little or no protection against four of the most potent unfair trade practices many of our trade partners routinely engage in — currency manipulation, intellectual property theft, and the use of both sweatshop labor and pollution havens. America's status as the largest market in the world with a freely floating exchange rate and the world's most advanced set of environmental and work safety regulations makes us a defenseless victim.


[link to www.cnbc.com]
 Quoting: Anonymous Coward 71563015


Nice to see someone with half a brain....
First they ignore you, then they laugh at you, then they fight you, then you win. ~ Mahatma Gandhi

"Always, at every moment, there will be the thrill of victory, the sensation of trampling on an enemy who is helpless. If you want a picture of the future, imagine a boot stamping on a human face—forever." ~ George Orwell

"The exact level of tyranny that you're going to live under, is the level of tyranny you put up with." ~Thomas Jefferson

"All tyranny needs to gain a foothold is for people of good conscience to remain silent. ~ Thomas Jefferson
Anonymous Coward
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08/02/2016 08:09 PM
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Re: NBC Admits Bill Clinton's NAFTA has been a Nightmare for USA, Needs Trump to fix it!
bump





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