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Richard Blumenthal on Free Trade

 


Protect "Made in the USA" and "Made in Connecticut"

Connecticut workers are among the most talented in the world, but too often corporate profits and global pressures overpower their interests and those of local and American industry. We've got to do more to make "Made in Connecticut" and "Made in America" matter more in Washington. We've got to stand up for the workers and small businesses that make great products and deserve our support.

Made in Connecticut. I have always fought for Connecticut's manufacturers, its companies, and its workers:

Protecting "Made in the USA": For 50 years, the federal government required all or nearly all of any product labeled as "Made in the USA" to be manufactured in America. In 1996, the Federal Trade Commission tried to loosen this standard. I challenged Washington on behalf of 18 Attorneys General, and the FTC backed down from its proposal.

Source: 2010 Senate campaign website, richardblumenthal.com "Issues" , Aug 12, 2010

Impose tariffs against countries which manipulate currency.

Blumenthal signed Currency Reform for Fair Trade Act

[Explanatory note from Wikipedia.com "Exchange Rate"]:

Between 1994 and 2005, the Chinese yuan renminbi was pegged to the US dollar at RMB 8.28 to $1. Countries may gain an advantage in international trade if they manipulate the value of their currency by artificially keeping its value low. It is argued that China has succeeded in doing this over a long period of time. However, a 2005 appreciation of the Yuan by 22% was followed by a 39% increase in Chinese imports to the US. In 2010, other nations, including Japan & Brazil, attempted to devalue their currency in the hopes of subsidizing cheap exports and bolstering their ailing economies. A low exchange rate lowers the price of a country's goods for consumers in other countries but raises the price of imported goods for consumers in the manipulating country.

Source: HR.639&S.328 11-S0328 on Feb 14, 2011

Other candidates on Free Trade: Richard Blumenthal on other issues:
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Dan Malloy
Tom Foley
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Chris Murphy

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Page last updated: Dec 26, 2013