Political Quotes

“In 1990, before the WTO, trade protection cost U.S. consumers approximately $70 billion per year. Trade barriers hit the lowest income consumers the hardest because they have to spend a greater share of their paychecks on the everyday products most affected by hidden import taxes. I am referring to such things as clothes, shoes, and many food products. According to the U.S. Trade Representative, the market access opportunities culminating in the Uruguay Round amount to 'the largest global tax cut in history.' By the time the WTO agreements are fully implemented in 2005, the annual effect will be equal to an increase of $1,500 to $3,000 in purchasing power for the average American family of four. By giving American consumers more buying power with every dollar, the WTO helps to raise the living standards for America's families, especially low-income families. Moreover, as Americans buy more, the availability of low-cost imports has helped to ward off inflation.”