Our $327 Billion Disadvantage

Let's Get Rid Of Foreigners' $327 Billion Trading Advantage

by Phyllis Schlafly
April 25, 2007

Daniel Drew, the legendary 19th century Wall Street insider, reputedly said that all he wanted in any deal was "a little unfair advantage." Most of America's trade competitors seem to want the same thing, or even a big unfair advantage.
Imagine how it would help the competitiveness of American exporters if U.S. companies could cut their prices an average of 19 percent in Europe and 17 percent in Asia. Imagine what it would also mean if foreign imports into the United States from overseas were raised by the same percentages.
U.S. financial generosity to our allies after World War II included giving them special trade advantages to help them speed up their post-war recovery. We agreed that they could rebate to their producers any indirect taxes they paid on goods they exported to us, and they could also impose an equal charge on any U.S. products they imported.
Those nations recovered from World War II many years ago, but they still cling to what started out as a little advantage but has steadily increased to become a massively unfair advantage. The cost to U.S. producers increased to a whopping $327 billion in 2006.

http://www.eagleforum.org/column/2007/apr07/07-04-25.html