Happy National Manufacturing Day!

Today, October 7, 2016 is National Manufacturing Day!

More than 12 million Americans work in the manufacturing industry.

Manufacturing makes up more than 35% of the U.S. gross national product.

Here are a couple of videos that highlight manufacturing in America:

 

The Coalition for a Prosperous America salutes everyone that works for, invests in and supports American manufacturing.

Problem:  The US has the biggest continuous trade deficit in the history of the world. Highly competitive manufacturing companies have been lost. Millions of jobs have been destroyed. Our agricultural trade surplus has been eroding. Communities have been hollowed out. The TPP will make these problems worse.

Trade negotiators have refused to address the biggest causes of the trade deficits in trade deals. Instead they negotiate trade deals with a hodge-podge of special interest tariff cuts, regulatory changes and sovereignty giveaways. Congress has failed to set a national goal to fix the trade deficit.

Solution: We need to pass a bill setting “balanced trade” as a national goal to fix the trade deficit.  At this moment, we may have a majority in Congress opposed to the TPP. But some congressional members can flip flop and support TPP because their reasons for opposition are technical side issues – like special interest drug, tobacco or dairy positions – rather than the overall national interest in fixing trade deficits.

Achieving balanced trade – a rough balance of exports and imports over time – will eliminate our trade deficit and create at least five million jobs in our economy.  It will require eliminating our manufactured goods deficit and reclaiming a stronger agricultural trade surplus.  Tax revenues will increase. Reshoring will occur on a large scale.  Manufacturing supply chains will flourish. Communities will rebuild and prosper. America’s economy will grow.

Sign the petition a so CPA can tell Congress you support Balanced Trade!

Petition Text:

We strongly support crucial legislation to make Balanced Trade a national trade policy goal.

Sign the petition at info@prosperousamerica.org  so CPA can tell Congress you support Balanced Trade!

Government Report: June Trade Deficit Jumps 8.5% Despite Trade Deals

Washington~ The US trade deficit in June grew by 8.5% according to a government report released on August 4th. Now at its 10-month high, the trade deficit reached a whopping $44.5 billion. The increase far exceeded the predictions of economists, who estimated that the deficit would rise to $43.2 billion from $41 billion in May.

Here are key quotes from the report.

  1. Trade deficit worsened: “The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $44.5 billion in June, up $3.6 billion from $41.0 billion in May, revised.”
  2. Goods Exports Increased over May Numbers: “June exports were $183.2 billion, $0.6 billion more than May exports.”
  3. But Goods Imports Increased More: “June imports were $227.7 billion, $4.2 billion more than May imports.”

Other important facts: Cell phones and other consumer goods as well as pharmaceutical products were a big part of the import increase. These are products that were invented in America and produced here efficiently, not low-end, developing country commodities that are imported for the US to process and sell for higher value products.

“US government officials and pundits are still stuck in Econ 101 while our trade rivals have progressed to Econ 451,” said Michael Stumo, CEO of the Coalition for a Prosperous America. “America’s trade strategy, to the extent it exists, focuses upon more stupid trade deals that increasingly give away our sovereignty. Our strategy needs to pursue balanced trade, a fix to modern foreign mercantilism and regrowth of a diverse manufacturing and agriculture sector.”