SOTU Analysis: New markets for American products
In today’s global economy, it is critical for American businesses to be able to sell their goods and services to customers overseas. President Obama focused on trade as an important element of our economic recovery in his State of the Union address this week, saying “I will go anywhere in the world to open new markets for American products.”
Senator Coons has been fighting to ensure Delaware businesses have access to the more than 95 percent of the world’s consumers who live outside the United States. Earlier this year, he supported a free trade deal with the Republic of Korea, noting that Korean company Harim’s investments in Delaware’s poultry industry clearly demonstrate the value of strong trade relations with Korea.
However, President Obama also laid out solutions for addressing trade relationships that don’t go quite so smoothly. In his address and an accompanying policy memo, he announced the creation of a new Trade Enforcement Unit to investigate unfair trade practices around the world. Chris is currently working with the U.S. Trade Representative to try and resolve an issue like this, where India has put unfair restrictions on American poultry.
President Obama also announced enhanced trade inspections, procedures which would be made easier by bipartisan legislation Chris authored with Senator Marco Rubio (R-Fla.), which would allow U.S. Customs and Border Protection legal access to tools like UPC codes and product samples that help them track counterfeit products coming in to the U.S. Chris also co-sponsored legislation to provide more resources to support trade enforcement that has been signed into the law of the land.
When it comes to trade, the most important tool we can provide to American businesses is a level playing field, and the new efforts announced last night will help ensure no foreign company has an advantage over products that are “Made in the USA, Manufactured in Delaware.”
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