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Candidates' trade strategies

Sunday, July 06, 2008

Where do the leading candidates for president stand on U.S. trade policy?

Republican

John McCain

• Backed NAFTA, CAFTA and other trade deals and voted in 2002 to give President Bush fast track authority to negotiate new trade deals.

• Has promised to stick to pledges made during NAFTA. In a visit to Canada to emphasize U.S.-Canadian trade, he vowed that America "will honor its international commitments — and we will expect the same of others."

• His campaign Web site says the U.S. "should engage in multilateral, regional and bilateral efforts to reduce barriers to trade, level the global playing field and build effective enforcement of global trading rules." Said taking such steps would strengthen the dollar and help control cost of living.

• Promises to make American workers more competitive by devoting himself to strengthening the schools.

• Would modernize the unemployment insurance system so that a portion of each worker's unemployment insurance tax is deposited into a lost earnings buffer account to help if the individual becomes unemployed. That benefit would be portable and would become the property of the worker upon retirement.

Democrat

Barack Obama

• Would amend the NAFTA to better benefit U.S. workers.

• Would pressure the World Trade Organization to enforce trade agreements.

• Would update Trade Adjustment Assistance by extending it to service industries and create flexible education accounts to help workers retrain.

• His Web site says he believes "that trade with foreign nations should strengthen the American economy and create more American jobs. He will stand firm against agreements that undermine our economic security."

• Said he will stop countries from continuing unfair government subsidies to foreign exporters and non-tariff barriers on U.S. exports.


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