If you think that the trade issues between the U.S. and China are one of our most pressing global concerns, you are in the majority. If you think you aren’t getting the complete story or picture on the issues from the print press or broadcasters you are with the majority again. Martin Feldstein, Ronald Reagan ’s former Chairman of the Economic Advisors, authored the attached essay on the issue, which strips away the rhetoric and uncovers the basic arguments put forth by the U.S. and China in the dispute. Multilateral trade agreements have been one of the significant achievements collectively of the past administrations lead by both parties in power. It is clear that there are some issues in our current trade with China. The sheer size of both economies and the inherent demand for products and services from both speak to an opportunity to strengthen trade and cooperation on a global basis. Martin Feldstein’s commentary speaks to an underhanded practice that if left unchecked could do damage to trading relationships that could enhance prosperity in both countries. Nudging our President along the right path is the responsibility of both parties.
P.s. More coming on the prosperity trade link.