Economy

President Bush Finally Gets Tough On China

February 22, 2006 ⋅  E-Mail Article ⋅ ⋅ Post a comment

Someone it appears has woken up the President and given him a little smell of the American economy coffee. This is some of the best news I have heard in a while regarding the Bush Administrations policy on trade and I applaud them for their efforts.

Apparently the Bush administration has a new get-tough approach with China, they have went so far as to say these new measures could involve filing trade charges against the Asian country. There are also rumors circulating about that the American government is finally going to call the spade a spade and name the Chinese Government as potential currency manipulators.

Some say the new hard line stance line won’t have much, or at least noticeable, impact right away, regarding the towering U.S. trade deficit. However, a small step is a good step and to me it’s a first step in the right direction.

Many Washington insiders believe it is the large trade deficit that has drawn the eye of the Bush Administration; it has also gotten a lot of attention by other politicians in Washington. China accounts for over 25 % of the trade deficit alone in our country.

Now if our government could help us get on a more level playing field with other countries in the world economy we many actually be able to complete the rejuvenation of our economy and consider the last seven years a learning experience we will never forget.

I also applaud congressmen who stood up and addressed the large deficit issue, they turned the deficit into a political issue and this has motivated the Republicans into action. Lawmakers in Washington have contended that President Bush was not doing enough to counteract China’s unfair trade practices. Congress has contended that these practices have contributed to the loss of over 3 million American manufacturing jobs since the year 2000.

Lawmakers are still introducing more bills to congress so they can continue to criticize China with recommendations of tough economic sanctions.

U.S. Trade Representative Rob Portman announced the creation of a new China enforcement task force in his office.

There are many considerations to be made but at least the topic is of concern now.

Bush On China

Related Posts