U.S. Sen. Russ Feingold (D-Wis.) is a lead supporter of a new effort to guide future U.S. trade agreements to ensure a level playing field for American businesses, workers and consumers.
Feingold is an original cosponsor of the Trade Reform, Accountability, Development, and Employment (TRADE) Act of 2008 introduced by Sen. Sherrod Brown (D-Ohio).
The TRADE Act requires a review of existing trade agreements, and a renegotiation of existing trade agreements based on that review. It sets terms of what must and must not be included in future trade agreements, and expresses support for strengthening the role of Congress in trade policymaking.
The framework created by the TRADE Act includes improved labor, environmental, food and product safety standards complete with enforcement mechanisms and penalties for failing to meet those standards, Feingold said.
"The trade policies agreed to over the past fifteen years are a major contributor to the tough economic times many folks in Wisconsin are facing," Feingold said. "I have opposed agreements like NAFTA, CAFTA and others that create a race to the bottom by failing to require fair labor, environmental, safety and other standards of the countries we do business with. Tens of thousands of good jobs have left Wisconsin for China, Mexico and elsewhere and have been replaced with lower quality, lower paying jobs without the benefits Wisconsinites need for their families. It's time that our trade agreements look out for American businesses, workers, consumers, family farmers and the environment rather than multi-national corporate interests.
"I support trade in the growing global marketplace and opening up new markets for American products," Feingold said. "But we can do it in a way that avoids the problems we have seen with NAFTA and other agreements that have taken their toll on American businesses and workers. This framework for a new direction of U.S. trade policies will strengthen economic security, maintain family-supporting jobs in the U.S., and encourage sustainable development in underdeveloped countries that are our trading partners."
Feingold supports overhaul of trade agreements
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