Sunday, January 13, 2008

NAM: CAFTA, NAFTA, and Free Trade Are Working

From the National Association of Manufacturers (NAM):

It’s official. With the trade data recently released by the U.S. Department of Commerce, the U.S. trade balance in manufactured goods with CAFTA (Central American and Dominican Republic Free Trade Agreement), has registered a $2 billion trade surplus. This is a sharp reversal from the pre-CAFTA situation, where in the years before the passage of the CAFTA agreement we averaged an annual manufactured goods trade deficit of about -$1.5 billion (see chart above).

Now the facts are in, showing that logic once again prevails over mythology. Far from being a “job killer,” CAFTA has been a real plus for the United States – as has NAFTA, another free trade agreement. American manufacturing faces some real problems – but CAFTA and other free trade agreements are not among them.


At 1/14/2008 1:50 AM, Anonymous Anonymous said...

And, of course, the plunging dollar had nothing to do with it.

At 1/14/2008 1:28 PM, Anonymous Marko said...

Dollar has not plunged against the D.R. Peso. Nice try, troll.

Kudos to Prof. Perry for pointing this stuff out! I would not know about most of these things if not for this blog. Thanks.

At 1/15/2008 4:15 PM, Blogger Gregory said...

I disagree with the wording used in this post. It makes the mistake of assuming trade surplusses are good and deficits are bad, while in reality they are neither good nor bad.

Now, what you can say is they were wrong when they predicted CAFTA would make the trade deficit larger, but that should be it.

At 1/16/2008 5:03 PM, Anonymous Anonymous said...

who thought big business wouldn't profit. its the loss of 766,00 american jobs, the rise in poverty, the threat to social institutions. how do you validate yourself choosing big business over the american citizen and small business? god have mercy on your black soul


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