The Obama Administration continues its misguided focus on poorly negotiated trade deals, like the Trans-Pacific Partnership (TPP), while ignoring market distorting factors that are harming U.S. economic growth.
Magnetization, an iron ore producer in Minnesota, announced that it will layoff workers. Cliffs Natural Resources, another Minnesota iron ore producer, will shut down a plant. Alcoa is idling or closing two plants in Washington and New York states due to a recent thirty percent price drop for aluminum. The steel industry in the U.S. is operating at a fraction of its full capacity. However, Alcoa's production in China and elsewhere will continue.
Foreign trade cheating and mercantilism are the biggest threats to good jobs and growth in the US. Chinese industries owned or controlled by the ruling communist party continue increasing output while selling at subsidized prices. The overcapacity and predatory pricing strategies are putting efficient and competitive US plants out of business.
You can read the rest @
http://www.opednews.com/articles/More-U-S-Plants-Closing-T-by-Michael-Stumo-ALCOA_Cheating_Economy_Governance-151120-241.html
Is it just me, or does it seem to you that Obama ad-Dajjal has focused like a laser beam on destroying the US economy throughout his administration?
Anyone who thinks TPP will fix the mess he put us in is nuts. There is a global glut of production capacity, and US factories have been priced out of the market. TPP will not fix that.
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