How America's Trade Policies Cost 585,000 Jobs
From the summary of a new study from the Chamber of Commerce, "Trade Action or Inaction: The Cost for American Workers and Companies:"
In recent months, the United States has taken a number of trade actions – and refused to take others – that have a negative impact on U.S. companies, their workers, and the economy. We examine three of these:
1. The failure to implement the U.S.-Colombia and the U.S.-Korea free trade agreements,
2. The “Buy American” provisions in the American Recovery and Reinvestment Act of 2009 (“Recovery Act”), and
3. The failure to implement the trucking provisions of the North American Free Trade Agreement and Mexico’s resulting retaliation against U.S. exports.
At the request of the United States Chamber of Commerce, we estimate these three trade actions/inactions would have a negative effect on U.S. companies and their workers, and that employment losses could total as much as 585,800 jobs (see chart above).