Does Congress feel Americans are losing on free trade?
Posted by jswain on March 29th, 2007David Wessel comments in today’s WSJ on the growing skepticism of the benefits of globalization. His comments are particularly interesting in light of yesterday’s hearing on trade and the American worker. He points out that selling Americans on free trade has always been tough and it’s easy to lay the blame at the feet of partisan politics. But, today that’s not necessarily the case.
Members on both sides of the aisle at yesterday’s hearing said trade policies need to be re-examined and that those who “cheat” – a popular word in the hearing room – must be held accountable. They are taking to heart, no doubt, what they’re hearing from their constituents:
“A recent Wall Street Journal/NBC News poll found only 35% of those with at least a four-year college degree believe ‘that the U.S. is benefiting from the global economy.’ And these people are more likely to be winners.”
Wessel does points to some of the benefits of globalization, but says…
“The issue…isn’t whether trade makes the world as a whole richer. It does. The issue is the distribution of those gains. If American workers sense they are at risk of being losers…the political consensus for encouraging further globalization will evaporate.”
Former U.S. Trade Representative Carla Hills in yesterday’s hearing said that these issues are “complicated.” Yes they are, but that’s not an acceptable answer for many Americans, and that’s certainly being reflected in the current conversations in Congress.
How much support is there in Congress for overhauling U.S. trade policy to better protect American jobs and strengthen our economy? Lou Dobbs said yesterday that he hoped with this Congress, America had reached a turning point. If yesterday’s hearing is any indication, maybe we have…I’m not sure it’s time to start holding our breath, though.
