Sat. Nov 28th, 2020

Step away from Anti-trade rhetoric in the shoes of state and local leaders in Washington. One reality becomes clear: There is a lot at stake for the United States to go it alone on business.

Local leaders see evidence every day, because their workplaces and substantial parts of the economy depend on international trade and investment, this is a very important thing for President Donald Trump. Going to be away from.

A recent gathering of governors was evidence of when he went to Washington for his national winter meeting. Once, he met with leaders from individual Australian states. Teams from abroad have come before, but this time was different. It was by far the most senior Australian political and business delegation to visit the United States. He traveled 10,000 miles and accompanied Prime Minister Malcolm Turnbull, who was scheduled to deliver the keynote speech.

Turnbull Called To deepen US-Australian relations in energy, advanced manufacturing, civil and military aircraft, and more. He reminded us that we can achieve more together on our own.

The feeling was mutual. “The governor is ready to extend this important partnership,” Declared Government of Nevada, Brian Sandoval, Chair of the National Governors Association. Governors subscribe to these guiding principles because they see for the first time the benefits of living by themselves, just as they see the costs of moving away.

Dig at state level The data And it is not difficult to see why the states are eager to keep it that way. All states share significant share of the workforce with trade and investment.

Political cartoon on economy

On FDI, the largest states attract the largest amount. But with the largest states Shares Total private industry employment by foreign-owned companies: A diversified group are: New Jersey (8.1 percent), South Carolina (8.0 percent) and New Hampshire (7.7 percent), followed by Kentucky, Indiana, Hawaii, Connecticut, and Delaware (each more More) than 7 percent).

Every state has a story. to take Texas. Foreign-owned companies employ 544,800 Texas workers, which is 5.5 percent of the state’s private workforce. The importance of trade agreements and cooperation is also clear: 62 percent of the state’s exports go to various U.S. Free Trade Agreement partners, and since 2006, Texas exports to these partners have increased by 60 percent.

Trump’s frustration and alarm over Chinese trade policies are understandable. But this is not enough reason to withdraw the United States from current and other promising trade negotiations that could open up new market opportunities for American businesses. Instead, Trump needs to find a way to deal with China that will work for everyone, and that means uniting with like-minded allies who are only disappointed.

The Trans-Pacific Partnership provides a way to deal with the problem. The agreement includes strong new rules on state-owned enterprises and effectively establishes a new rule book that will limit China’s ability to continue with its aggressive behavior.

Recent comment by director and his Treasurer Indicate that joining the TPP may be a possibility, which is good, as it is Trump’s ticket to deal effectively with China. Conversely, unilateral solutions such as import taxes, which are clearly under the authority of the President, slow down development and End Doing more harm than good here at home. Worse, as history shows, import taxes will not change China’s behavior.

State and local leaders are our eyes and ears on the ground, and their message is clear: workers and businesses in their communities depend on the free flow of trade and investment across borders. Our partners are saving a seat for us at the TPP table. Trump needs to accept a bus ticket and then use it wisely.

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