Sound trade policies will bolster the economy

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In “Obama Set to Come Up Short on Pledge” (Dec. 15 Business), Len Boselovic rightly points out that President Barack Obama has failed to double exports and create 1 million manufacturing jobs as promised in his 2010 State of the Union. Although the president’s promise has failed to materialize, there are ways that the United States can increase exports.

Over the past five years, an energy boom has occurred in the United States via shale gas development. Energy drives the industries that employ our people. However, it will take sound economic policies for this energy boom to translate into sustained economic growth.

In a global economy, the United States must be able to compete on a global scale. Therefore, we must have well-written trade agreements that give American producers access to expanding and emerging markets. If we are expected to open our markets to the imports of other countries, then other countries must also open their markets to our exports.

New market access for American industries can bolster economic growth in key industries such as the high technology and energy sectors, as well as aerospace, biomedical, advanced electronics and telecommunications. The growth in these sectors will reduce the tax burden on the American people, while expanding the tax base. It can also increase tax revenues for federal, state and local governments.

If exports are to truly increase, businesses must be allowed to expand and grow without fear of the heavy hand of government.

Director of Government Affairs
Penn United

Penn United is a tool and die maker.

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