3 September 2008

Republican Platform Outlines Priorities on Trade-Related Issues

This article is extracted from the 3 September 2008 edition of “WorldTrade Interactive”.

The [US] Republican Party has made available a draft of the campaign platform it is expected to adopt at this week’s nominating convention. This document includes a number of trade and transportation related provisions, including the following.

Trade Policy. “Greater international trade, aggressively advanced on a truly level playing field, will mean more American jobs, higher wages, and a better standard of living. It is also a matter of national security and an instrument to promote democracy and civil society in developing nations....

“An aggressive trade strategy is especially important with regard to agriculture. Our farm economy produces for the world; its prosperity depends, more than ever before, on open markets. U.S. agricultural exports will top $100 billion this year. We will contest any restrictions upon our farm products within the World Trade Organization and will work to make the WTO’s decision-making process more receptive to the arguments of American producers.”

Intellectual Property Rights. “We pledge stronger action to protect intellectual property rights against pirating and will aggressively oppose the direct and indirect subsidies by which some governments tilt the world playing field against American producers.”

Product Safety. “To protect American consumers, we call for greater vigilance and more resources to guard against the importation of tainted food, poisonous products, and dangerous toys.”

Western Hemisphere. “Our relations with our immediate neighbors, Canada and Mexico, are grounded on our shared values and common purpose, as well as our steadily increasing trade. We pledge to continue this close association and to advance mutually beneficial trade agreements throughout Latin America, promoting economic development and social stability there while opening markets to our goods and services. Our strong ties with Canada and Mexico should not lead to a North American union or a unified currency....

China. “Our bilateral trade with China has created export opportunities for American farmers and workers, while both the requirements of the World Trade Organization and the realities of the marketplace have increased openness and the rule of law in China. We must yet ensure that China fulfills its WTO obligations, especially those related to protecting intellectual property rights, elimination of subsidies, and repeal of import restrictions. China’s full integration into the global economy requires that it adopt a flexible monetary exchange rate and allow free movement of capital. China’s economic growth brings with it the responsibility for environmental improvement, both for its own people and for the world community.”

Transportation Infrastructure. “We support a level of investment in the nation’s transportation system that will promote a healthy economy, sustain jobs, and keep America globally competitive....”

Corporate Taxation. “America’s producers can compete successfully in the international arena — as long as they have a level playing field. Today’s tax code is tilted against them, with one of the highest corporate tax rates of all developed countries. That not only hurts American investors, managers, and the U.S. balance of trade; it also sends American jobs overseas. We support a major reduction in the corporate tax rate so that American companies stay competitive with their foreign counterparts and American jobs can remain in this country.”...

Russia. “As a condition for its continued acceptance in world organizations [including, presumably, the World Trade O