Global Economy
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Pursue more trade liberalization by the two classic routes of
- Reciprocity, or "trade agreements," by which we open our market if other countries open theirs, and
- Unilateralism, by which we open our market unconditionally.
Reduce trade barriers unilaterally when politically feasible, because
- unilateral reduction of trade barriers happens immediately without cumbersome negotiations, while
- trade agreements require months of negotiations, even years, and result in endless pages of numbers and arbitrary rules which are often protectionism in disguise, even corporate welfare to favored companies or industries having more influence with trade negotiators.
Work also to reduce or eliminate non-tariff trade barriers, such as "fabric forward" and "local content" rules, which protect uncompetitive companies, impose costly requirements onto manufacturers, and result in higher prices to consumers.
While further opening the U.S. market, still impose onto foreign imports the same restrictions or terms that apply to domestic products, such as taxes and inspections for quality and safety standards.
Do not impose a trade embargo against another country unless special conditions exist:
- Observe the embargo if the nation in question is officially condemned by the United Nations for human rights violations or aggression and a boycott is declared and participated in by the community of nations.
- But do not boycott another nation unilaterally, because such boycotts tend to be ineffective and U.S. producers and consumers end up being the main losers, such as with the Cuban embargo.
Further steps to improve the global economy:
- Stop enticing 3rd World nations to enter into debt, since the benefits go mostly to special interests and oppressive regimes while the general population suffers harsh austerity measures down the line to make the repayments. Re-evaluate U.S. commitment to the IMF and the World Bank.
- End the trade embargo against Cuba and also restrictions on travel to Cuba by Americans.
- Reduce foreign aid in favor of opening the U.S. market more to imports from poor countries, which is a much better way the U.S. can play a role in helping those countries develop and improve their standard of living. Reduce or end foreign aid programs that enrich repressive dictatorial regimes and banks and corporate interests rather than the general populations of those countries to be aided.
- Repeal anti-dumping laws, such as were invoked against foreign steel imports, as such laws and their enforcement hurt U.S. consumers while rewarding uncompetitive companies and reducing their incentive to improve.