Charles Shumer’s “Rules” on “Free Trade”

“If you believe in free trade, you play by the rules.”

Charles Shumer (D-Ny.).

Vikas Bajaj, “U.S. Trade Deficit Sets Record, With China and Oil the Causes,” New York Times, 2/11/06.

These exploding trade deficit numbers[$726bn for 2005, $202bn with China] are not a sign of strength; they are a sign of weakness. They indicate a slow bleeding at the wrists economically for the United States. The trade and budget deficit numbers show that America's standard of living is increasingly being borrowed from abroad, from countries like China and Japan.

Charles Shumer (D-Ny.).

Christopher Swannin, “Surging imports push US trade deficit to $726bn,” Financial Times, 2/11/06.