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Q&A with Michael Stumo of the Coalition for a Prosperous America

Posted by SCapozzola on December 22nd, 2008

ManufactureThis has been conducting a Q&A with Michael Stumo of the Coalition for a Prosperous America.

What’s your view on the incoming administration and President-elect Obama’s campaign statements to address China’s currency manipulation?

I was heartened that Obama endorsed the best currency misalignment bill currently pending in the Senate. That is the Stabenow/Bunning/Bayh bill (S. 796) which would label currency misalignment as an unlawful subsidy, enabling us to neutralize (not punish) the tactic with countervailing and anti-dumping duties. The 35% China currency advantage is helped cause, and is helping to deepen, our financial crisis. S. 796 will be back in better form in the next Congress, I understand.

There are signals that Obama is taking his campaign promises seriously. I understand that there was a lot of vague statements during the campaign, like “change.” But I think his policy people within the campaign were careful to say what he meant when he was specific. His campaign promises on trade, which CPA will be reminding him and his transition team of, have a good shot at being taken seriously. I reserve the right to be hopeful.

But the Democratic caucus is divided on trade. And the Republican caucus is generally in favor of the current version of free trade, which seems to put some distance between them and their Republican constituents, a majority of whom are trade skeptics.

We have opportunities now for trade reform, more than under Clinton or Bush. We need to invest heavily in taking advantage of these opportunities, so we don’t look back and say “I wish we had done more…”

What’s your favorite music, and what do you listen to when you’re not working to save the U.S. manufacturing base?

I like to listen to my 16 year old son play Irish, Scottish and bluegrass fiddle music until smoke rises from his strings. And I also enjoy listening to my 10 year old son playing the accordion, and to my 14 year old daughter playing the cello. Our 240-year-old farmhouse in the Berkshires is full of music.

**ManufactureThis does not necessarily agree or disagree with the views of our guest participants; we merely provide them to help foster a wider discussion.

This entry was posted on Monday, December 22nd, 2008 at 2:49 am and is filed under Enforcing Trade Laws, Manufacturing in the U.S.. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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Q&A with Michael Stumo of the Coalition for a Prosperous America

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