International trade is vital to our economy, so much of the debate in the upcoming Presidential election has surrounded the candidates\u2019 foreign trade policies. President Barack Obama (D) and his challenger, Governor Mitt Romney (R), have each publicly stated support for free trade; however their trade philosophies are very different.<\/p>\n
<\/p>\n
President Obama introduced the National Export Initiative (\u201cNEI\u201d) in 2010 and stated his goal of doubling exports over the following five years.[1]<\/a>The U.S. is currently on track to not only reach, but also to exceed this goal with a current annual increase in exports of 16%.[2]<\/a> Although President Obama has not opened any new trade negotiations, he has worked with Congress to pass three free trade agreements that were previously languishing:\u00a0 Panama, South Korea, and Colombia.[3]<\/a>\u00a0 The Obama administration has also participated in negotiating a trade pact with Pacific nations known as the Trans-Pacific Partnership (TPP).[4]<\/a>\u00a0 Although he acknowledges and supports the necessity of international free trade, President Obama still endorses the need for Americans to \u201cBuy American\u201d.[5]<\/a><\/p>\n <\/p>\n Governor Mitt Romney has been thorough in outlining his foreign trade policies, a main objective of which is to create a \u201cReagan Economic Zone\u201d, similar to that which President Reagan attempted during his presidency.[6]<\/a>\u00a0 Gov. Romney anticipates that the Zone would standardize practices and create a network of “like-minded” nations that are committed to free enterprise and open markets.[7]<\/a> \u00a0<\/sup><\/i>\u00a0\u00a0According to Romney, \u201cfor every $1 billion in U.S. exports, another 5,000 jobs are created in the U.S.\u201d.[8]<\/a>\u00a0 Thus, continued pursuit of current and new trade agreements will help stimulate the economy.<\/p>\n <\/p>\n China is a hot topic for trade, and it is one of the key points for both Romney and Obama\u2019s campaigns.\u00a0 Among Romney\u2019s objectives is the decision to take Chinese businesses to court and litigate against unfair trade practices, as well as declaring China a \u201ccurrency manipulator\u201d.[9]<\/a>\u00a0 In contrast to Gov. Romney\u2019s stance, President Obama has never openly reprimanded China for manipulating its currency to fit its needs; however, the President\u2019s administration has litigated unfair trade cases against China.[10]<\/a><\/p>\n <\/p>\n The purpose of this blog post is solely to help inform our readers and not as a means of endorsing either candidate.\u00a0 We hope that all our readers will be better informed to make the decision on November\u00a0 6, 2012 that best fits their values and beliefs.<\/p>\n <\/p>\n For more information on the 2012 Presidential Candidates please visit the links referenced in this post or the nominees\u2019 websites directly at http:\/\/www.barackobama.com\/<\/a> and http:\/\/www.mittromney.com\/<\/a>. For more information on the 2012 Presidential Election, how and when to vote visit http:\/\/www.presidentialelection.com\/<\/a>.<\/p>\n [1]<\/a> U.S. Dept of Commerce, International Trade Administration: National Export Initiative http:\/\/trade.gov\/nei\/nei-introduction-state-of-the-union-012710.asp<\/a><\/p>\n<\/div>\n [2]<\/a> Going Global: Where Obama, Romney Stand on Trade http:\/\/news.terra.com\/going-global-where-obama-romney-stand-on-trade,60f255eb7961a310VgnVCM20000099cceb0aRCRD.html<\/a><\/p>\n<\/div>\n [3]<\/a> http:\/\/www.washingtonpost.com\/business\/economy\/obama-gets-win-as-congress-passes-free-trade-agreements\/2011\/10\/12\/gIQAGHeFgL_story.html<\/a><\/p>\n<\/div>\n [4]<\/a> Executive Office of the President, Office of the U.S. Trade Representative: The U.S. in the Trans-Pacific Partnership http:\/\/www.ustr.gov\/about-us\/press-office\/fact-sheets\/2011\/november\/united-states-trans-pacific-partnership<\/a><\/p>\n<\/div>\n [5]<\/a> Business without Borders: Trade Off, Obama vs Romney on the politics of foreign trade http:\/\/www.businesswithoutborders.com\/industries\/importexport\/trade-off\/<\/a><\/p>\n<\/div>\n [6]<\/a> Mitt Romney’s Campaign Website: Issues, China & East Asia http:\/\/www.mittromney.com\/issues\/china-east-asia<\/a><\/p>\n<\/div>\n [7]<\/a> Id.<\/i><\/p>\n<\/div>\n [8]<\/a> Business without Borders: Trade Off, Obama vs Romney on the politics of foreign trade http:\/\/www.businesswithoutborders.com\/industries\/importexport\/trade-off\/<\/a><\/p>\n<\/div>\n [9]<\/a> http:\/\/www.mittromney.com\/issues\/trade<\/a><\/p>\n<\/div>\n [10]<\/a> Business without Borders: Trade Off, Obama vs Romney on the politics of foreign trade http:\/\/www.businesswithoutborders.com\/industries\/importexport\/trade-off\/<\/a><\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":" International trade is vital to our economy, so much of the debate in the upcoming Presidential election has surrounded the candidates\u2019 foreign trade policies. President Barack Obama (D) and his challenger, Governor Mitt Romney (R), have each publicly stated support for free trade; however their trade philosophies are very different. President Obama introduced the National Export Initiative (\u201cNEI\u201d) in […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[17,50,108,166,178,180,192,212],"class_list":["post-235","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-17","tag-china","tag-free-trade","tag-obama","tag-policy","tag-presidential-election","tag-romney","tag-trade"],"_links":{"self":[{"href":"https:\/\/www.customscourt.com\/es\/wp-json\/wp\/v2\/posts\/235","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.customscourt.com\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.customscourt.com\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.customscourt.com\/es\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.customscourt.com\/es\/wp-json\/wp\/v2\/comments?post=235"}],"version-history":[{"count":0,"href":"https:\/\/www.customscourt.com\/es\/wp-json\/wp\/v2\/posts\/235\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.customscourt.com\/es\/wp-json\/wp\/v2\/media?parent=235"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.customscourt.com\/es\/wp-json\/wp\/v2\/categories?post=235"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.customscourt.com\/es\/wp-json\/wp\/v2\/tags?post=235"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n