Page 21 - THE SOUTH CHINA BUSINESS JOURNAL
P. 21
D .C. Today
pursue a multifaceted, bipartisan approach similar to Agreement (USMCA). It was welcome news following
the process used to pass comprehensive legislation months of escalating trade disputes between the U.S.
addressing the opioid epidemic this year. and key trading partners like Canada, Mexico, China,
and the European Union.
Looming threats:
Risks on the horizon Still, steel and aluminum tariffs on Canada and
Mexico, along with retaliatory tariffs on about
On the flip side, there are new – and in some cases, $15 billion of American exports, remain in place,
renewed – legislative threats that could undermine threatening our nation’s economic growth and
our economic momentum and harm businesses and leaving a cloud of uncertainty hanging over the 14
workers across the country. In particular, potential million U.S. jobs that are supported by trade with
legislation on prescription drug prices, workplace Canada and Mexico.
employment regulations, and limits on arbitration
could hobble businesses across numerous industries. Couple those tariffs with those already implemented
or proposed on China and the European Union,
In addition, some candidates promised to try to nix and we’re now up to $300 billion in U.S. tariffs
or roll back key provisions of the tax reform package, and $150 billion in retaliatory tariffs imposed on
which has been a boon for the economy, businesses, American exports. Should all the proposed tariffs be
families, and workers. Chipping away at the Tax Cuts implemented, nearly half a million American jobs
and Jobs Act would be a major mistake that would take would be in jeopardy.
the wind out of our economy’s sails and threaten the
enormous jobs gains of the past year. In this new political environment, we’re counting on
the administration to build on its progress and pursue
Meanwhile, there’s the looming threat of another sound trade policies that benefit American business,
government shutdown as fierce debates continue over workers, and consumers.
government spending and the debt limit. So while we
all work toward some of the promising possibilities on Bonus:
areas like immigration, infrastructure, and workforce Common ground now an absolute must
issues, Congress must avoid actions that would
undermine the economic progress we have made in If there’s a common theme among the five takeaways
recent years. above, it’s that bipartisan consensus and compromise
must be embraced by every member of the newly
Trade policy: elected Congress. We have a real opportunity over the
Opportunity ahead next two years to make major progress on some of the
most important issues facing our country, but that
In October, the administration took an important opportunity will be missed if lawmakers don’t reach
step in reducing the uncertainty that had stymied across the aisle and pursue common ground. Never
North American trade – and two of our most important has cooperation been more important, because – to
economic partnerships – when they struck an reiterate Donohue’s statement – “there is much to do
agreement on a new United States-Mexico-Canada and no time to waste.” Let’s get to work.■
South China Business Journal 17
pursue a multifaceted, bipartisan approach similar to Agreement (USMCA). It was welcome news following
the process used to pass comprehensive legislation months of escalating trade disputes between the U.S.
addressing the opioid epidemic this year. and key trading partners like Canada, Mexico, China,
and the European Union.
Looming threats:
Risks on the horizon Still, steel and aluminum tariffs on Canada and
Mexico, along with retaliatory tariffs on about
On the flip side, there are new – and in some cases, $15 billion of American exports, remain in place,
renewed – legislative threats that could undermine threatening our nation’s economic growth and
our economic momentum and harm businesses and leaving a cloud of uncertainty hanging over the 14
workers across the country. In particular, potential million U.S. jobs that are supported by trade with
legislation on prescription drug prices, workplace Canada and Mexico.
employment regulations, and limits on arbitration
could hobble businesses across numerous industries. Couple those tariffs with those already implemented
or proposed on China and the European Union,
In addition, some candidates promised to try to nix and we’re now up to $300 billion in U.S. tariffs
or roll back key provisions of the tax reform package, and $150 billion in retaliatory tariffs imposed on
which has been a boon for the economy, businesses, American exports. Should all the proposed tariffs be
families, and workers. Chipping away at the Tax Cuts implemented, nearly half a million American jobs
and Jobs Act would be a major mistake that would take would be in jeopardy.
the wind out of our economy’s sails and threaten the
enormous jobs gains of the past year. In this new political environment, we’re counting on
the administration to build on its progress and pursue
Meanwhile, there’s the looming threat of another sound trade policies that benefit American business,
government shutdown as fierce debates continue over workers, and consumers.
government spending and the debt limit. So while we
all work toward some of the promising possibilities on Bonus:
areas like immigration, infrastructure, and workforce Common ground now an absolute must
issues, Congress must avoid actions that would
undermine the economic progress we have made in If there’s a common theme among the five takeaways
recent years. above, it’s that bipartisan consensus and compromise
must be embraced by every member of the newly
Trade policy: elected Congress. We have a real opportunity over the
Opportunity ahead next two years to make major progress on some of the
most important issues facing our country, but that
In October, the administration took an important opportunity will be missed if lawmakers don’t reach
step in reducing the uncertainty that had stymied across the aisle and pursue common ground. Never
North American trade – and two of our most important has cooperation been more important, because – to
economic partnerships – when they struck an reiterate Donohue’s statement – “there is much to do
agreement on a new United States-Mexico-Canada and no time to waste.” Let’s get to work.■
South China Business Journal 17
