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The will be held on Tuesday, November 8th, 2016  ♦  2016 Presidential Candidates

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    Barack Obama


In evaluating the effectiveness of our national trade policy, a look at our trade surpluses, or rather, trade deficits, provides a most telling answer. Our accumulative trade deficit since 1971 stands at approximately $8.53 trillion, including $6.1 trillion in the last ten years alone!

As our legislators and trade officials continue in their struggle to combat these staggering numbers, China has quietly accumulated in excess of two trillion dollars' worth of trade surplus during the same ten-year period.

Over half of the goods and services purchased by Americans originate from outside the United States. In 2011, the total worth of all U.S. imports amounted to $2.66 trillion. Exports during the same period totaled $2.1 trillion, creating a trade deficit of $560 billion dollars - larger than the whole Swedish economy, which is the 21st biggest in the world.

This is not an anomaly, or a one-time blip. While the figure is lower than the $753 billion deficit recorded in pre-recession 2006, it represents a steady growth pattern since the nation first logged a trade deficit in 1971, a relatively tiny $1.3 billion dollars.

There are obviously concerns that the trade deficit would continue to increase. In fact, data for the first five months in 2012 indicates that the nation could very well be facing a record-breaking deficit in excess of $767 billion!

What exactly are we importing, you may rightfully wonder. Well, in a word, everything - green coffee ($6.9 billion), fruits and frozen juices ($11.7 billion), alcohol ($14.8 billion), paper ($6.9 billion), tobacco ($7.8 billion), sewing machines ($1.8 billion), diamonds ($22.3 billion), camping apparel and gear ($8.6 billion), toiletries and cosmetics ($7.9 billion), cookware ($7.5 billion), musical instruments ($1.6 billion), rugs ($1.9 billion), stereo ($6 billion), books ($3.6 billion), photo equipment ($5.3 billion) - the list is endless.

But the top 25 biggest culprits though, are as follows:

No. 25 Fish and shellfish $16.57  billion
No. 24 Measuring instruments $17.51  billion
No. 23 Iron and steel mill products $19.78  billion
No. 22 Generators $20.62  billion
No. 21 Household appliances $20.89  billion
No. 20 Industrial engines $21.36  billion
No. 19 Gem diamonds $22.30  billion
No. 18 Furniture, household goods $23.63  billion
No. 17 Chemicals-organic $25.40  billion
No.16 Medicinal equipment $30.43  billion
No.15 Toys, games, and sporting goods $32.96  billion
No.14 Televisions and video equipment $33.50  billion
No.13 Apparel & textiles (nonwool/cotton) $36.97  billion
No.12 Electric apparatus $38.74  billion
No.11 Semiconductors $40.17  billion
No.10 Industrial machines $45.09  billion
No. 9 Fuel oil $46.88  billion
No. 8 Telco equipment $48.47  billion
No. 7 Apparel (cotton) $50.39  billion
No. 6 Petroleum products $50.92  billion
No. 5 Computer accessories $54.80  billion
No. 4 Computers $64.90  billion
No. 3 Cell phones $80.27  billion
No. 2 Pharmaceutical preparations $91.74  billion
No. 1 Crude oil $331.58  billion

(Source: U.S. Census Bureau, Foreign Trade Division)

Current President of the United States

Barack Obama

Presidential Candidate Barack Obama
Obama Position on Trade Issues

• Obama is of the opinion that global trade is unsustainable if it favors only the few and that
America's global trade will be short lived if it favors only some people and not all. He feels that
trade should be free and fair for all.

• He feels that NAFTA protects corporate profits; should protect labor.

• Obama fully stands for trade and globalization but is not for CAFTA, the implementation of free trade with Central America. He also feels that trade agreements must deal with matters of fairness such as labor, environmental and consumer safety.

• He is a person who stands for assisting workers who lose globalization's race to the bottom.

• Obama is quite agreeable to Peru Trade as it includes labor and environment protections.

• Obama is of the opinion that it is absolutely not possible to reverse globalization as America will only be worse off due to this. He stated in his speech in Flint that "Rather than fear the future, we must embrace it."

• He feels that America's trade policy should not be ruled by particular interests.

• Obama is for strong labor, safety, and environmental standards on trade.

• Obama strongly feels that the NAFTA was oversold to USA and wants to amend it.

• While was speaking to an AFL-CIO audience he stated, "What I oppose and have always opposed are trade deals that put the interests of multinational corporations ahead of the interests of American workers -like NAFTA and CAFTA and permanent normal trade relations with China."

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