The NAM’s Frank Vargo joined Cato’s Dan Ikenson last Thursday for a discussion on Capitol Hill about trade and manufacturing. Frank has now posted his Powerpoint presentation online, which you can access here. It’s called “U.S. Manufacturing in the Global Economy,” and it represents an excellent, dispassionate and myth-refuting argument against those who see U.S. manufacturing as disappearing or trade as an economic negative.
With the recent House vote approving the U.S.-Peru Trade Promotion Agreement and pending Senate action , we were particularly struck by the data on Frank’s slide No. 21:
Aren’t the Pending Free Trade Agreements
with Colombia, Panama, and Peru
a Threat to U.S. Jobs?
YOU JUDGE …
1. they already have duty-free access to the U.S. market. We pay tariffs to sell to them. 2. Most of what we buy from Colombia is oil. 3. Most of what we buy from Peru is copper, gold, silver, and naptha. 4. We buy as much manufactured goods from Panama in a year as we do every five hours from China — and we want their canal project!
Very useful background…For more, go to the NAM’s trade page, www.nam.org/trade.
BTW, Ikenson’s presentation built on this paper: Trade Policy Analysis No. 35: Thriving in a Global Economy: The Truth about U.S. Manufacturing and Trade by Daniel J. Ikenson (August 27, 2007). You can download it here.
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