Thursday, July 19, 2012

Obama Is Stalling US Engine Of Growth By Delaying Free Trade Agreements: Obama Far Behind Predecessors And Other Countries In Opening Trade

From The Washington Times, "Obama administration stalls economic engine of new free-trade pacts" by Ben Wolfgang:
"The U.S. isn’t going to make progress on trade until we get another president. I don’t know if Mitt Romney is the answer, but Obama clearly is not," said Peter Morici, a professor and international trade scholar at the University of Maryland.

Mr. Obama’s lackluster record on trade, an increasing target of the Romney campaign, stands in stark contrast to those of his predecessors.

Mr. Bush signed free-trade agreements with more than a dozen countries, including Australia, Peru, Singapore and Bahrain. President Clinton’s first term included the signing of the North American Free Trade Agreement with Canada and Mexico, the establishment of permanent normal trade relations with China and the birth of the World Trade Organization.
While the Obama administration has failed to achieve any new deals, he says, the rest of the world is moving full steam ahead. Since 2007, the European Union has finalized or negotiated more than 20 deals. China has signed or negotiated nearly 20. [Emphasis added.]

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