Let's stop unfair trade practices

If senators Obama and McCain are serious about helping our country's economy get back on track, they must address how trade is affecting many of the manufacturers in this country.

Most people agree trade is an important component of the American manufacturing economy.

American companies, large and small, report that foreign sales are helping ease the financial impact of a struggling U.S. economy. The weak dollar has made American goods more competitive in the world market.

However, there is another set of facts to consider when it comes to trade.

Those facts show that Washington has hesitated to hold all of our trading partners accountable to fair trading practices.

Predatory foreign trade policies that include subsidies, dumping and currency manipulation are taking a heavy toll on the industrial base of this country.

Manufacturing is the engine that drives the economy; it is responsible for much of the research-and-development efforts, and it plays a key role in allowing the country to defend itself from its enemies.

Manufacturing jobs provide benefits and enable workers to earn much more than minimum wage.

Peter Morici, a professor at University of Maryland School of Business and former chief economist at the U.S. International Trade Commission, makes the point that manufacturing has lost 26,000 jobs in May, and over the last 97 months, manufacturing has shed more than 3.7 million jobs.

Morici correctly argues that were the trade deficit cut in half, manufacturing would recoup at least 2 million of those jobs, U.S. growth would exceed 3.5 percent a year, household savings performance would improve and borrowing from foreigners would decline.

Clearly, the jobs that manufacturing creates allow workers to not just have a job but to make a living on which you can raise a family.

American manufacturers are not afraid of competition, but that competition needs to be fair.

Manufacturers do not need protectionism, but we do need protection from unfair trading practices.

I hope the presidential candidates can agree on this.

Zach Mottl

Chairman, Government Relations Committee

Tooling and Manufacturing Association

Park Ridge