Political Quotes

“since World War II the United States has traded away American jobs in the name of foreign policy by entering into bilateral and multilateral trade agreements. With a 9.1 percent national unemployment rate, 14 million Americans looking for work, and 10.6 percent unemployment in Rhode Island, there are no more jobs to give. As such, I cannot support these trade agreements with Korea, Colombia, and Panama that the Senate is considering today. I am not convinced these trade deals will result in net job growth for the United States. The International Trade Commission's analysis of the agreements finds negligible changes to aggregate employment and output. Analysis from The Economic Policy Institute estimates that the Korea FTA would lead to a loss of 159,000 jobs--much of this in the manufacturing sector. It must be stressed that, according to these analyses, any potential job gains associated with increases in American exports will be offset by job losses resulting from increased imports to the United States. Moreover, as a recent economic study has shown, my State is one of the most susceptible to labor-intensive imports. And as the International Trade Commission's sector analysis of these free trade agreements found, industries that are based in Rhode Island align with those foreign industries that will have the most access to U.S. markets.…”