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  • Free Trade Fact of the Day

    In many ways the Bush Administration has fought hard for free trade … but they are far from perfect. As the Wall Street Journal reports, the White House finally lost its four-year effort to defend cotton subsidies from a complaint by Brazil in the World Trade Organization. If the US fails to turn away from the current drift towards protectionism the costs will be high:

    If the U.S. refuses to act, Brazil now has the right to retaliate against U.S. products to the tune of $4 billion. That price will be paid by U.S. exporters in fewer sales, and by the American workers who make those exports, or perhaps in seized intellectual property. In other words, the cost of subsidizing wealthy U.S. cotton growers – which was $3.3 billion in 2005 – just about doubled.

    Posted in International [slideshow_deploy]

    2 Responses to Free Trade Fact of the Day

    1. Matt, IN says:

      I am for free trade, but let's have the Fair Tax to stop our handicap. Let's tax all our goods the same and stop driving away American companies.

    2. Matt, IN says:

      I, personally, buy American (or American ally) goods where I can. To me, it is FAR more important to support the economies with similiar interests than it is to get a good for maybe $1 less and support communism and oppressive regimes. Where your treasure is, there will be your heart also.

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