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Posts Tagged ‘global economy’

Rethinking How We Value Global Trade

February 20th, 2013

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This piece was originally published in U.S. News & World Report.

In his most recent State of the Union, President Obama touted the fact that American companies like Apple, Ford, and Intel are bringing manufacturing operations back to the United States. This key trend will support good American jobs—while strengthening the manufacturing and innovation ecosystem that’s a vital source of America’s global competitiveness.

Where things are “made” is crucial. But as America pursues important new trade deals in Asia and Europe, it’s also critical that we secure more “value” from our trade.

The iPhone in my pocket was “made” in China. When it was imported into the United States, it was treated by U.S. Customs as a 100 percent Chinese product, and it added somewhere around $230 to America’s $315 billion trade deficit with China.

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