Trade

Free trade and open markets are fundamental to U.S. economic growth, prosperity, and security.

Despite the effects of the global economic crisis on the U.S. economy, lessons from the period between WWI and WWII have taught us that protectionist policies do not produce economic prosperity and global stability.

Globalization can create mutual winners, but requires American workers and businesses to be more efficient and competitive internationally.  American consumers benefit from the resulting lower prices.  Above all, we need free trade but it must be fair.  Trade must benefit both the American worker and consumer.  This requires other countries lowering their tariffs so we can export more American goods.  At the same, we should allow imports as long as they do not create trade deficits that can have a negative impact on the U.S. economy.  We also need to properly regulate products to protect the health of American families.

International trade is also central to U.S.-India relations.  U.S.-India economic relations are among the strongest ties between the two countries.  Moreover, cooperation between Washington and Delhi is widely acknowledged to hold the key to progress in the WTO Doha Development Round trade negotiations.

Understanding the United States’ leadership role in promoting international trade as well as the importance of trade to U.S.-India relations, the IARC supports:

• U.S. policies promoting economic trade globally and refraining from protectionism at home
• Enforcement of U.S. trade laws, but smart enforcement in order to level the playing field and not unduly raise prohibitive barriers to trade
• Increase bilateral trade and economic cooperation between the U.S. and India
• U.S. and Indian Government cooperation to restart the stalled WTO Doha Round talks and promote global trade
• Free but fair trade ensuring global export markets are open to U.S. manufacturers and businesses

Please read the following articles by IARC Member Neena Shenai, who is a former U.S. Department of Commerce attorney and currently serves as an Adjunct Scholar at the American Enterprise Institute.

Averting a Tiresome Trade War
The Weekly Standard
September 1, 2009

Irresponsible Leadership for an Unsustainable Future
The Journal of the American Enterprise Institute
July 11, 2009

The Importance of Free Trade
Forbes Magazine
June 9, 2009