Foreign Trade Policies
I believe there is a significant trade imbalance, which intrinsically is harmful to our economy. Attention should be directed to stop the imbalance and careful start to negotiate with foreign countries to gradually reduce the trade imbalance. Through the years as our in-country manufacturing capacity was reduced, we started to increase the imported products to replace the products we were no longer producing or were producing a greatly reduced amount. A basic business approach in a competitive market is to determine “needs” of the customer base (in this case, foreign countries) and then determine our ability to develop a solution to those needs. Our government has a capacity to make such determinations. I don’t know of any effort to do so. I believe this should be a priority to increase our exports and decrease the percentage of our trade imbalance. And, obviously, if we are internally producing and meeting a greater percentage of our citizen needs, that is few of those needs that will be imported. A win-win situation.