“The tidal wave of imports, often heavily subsidized, flooding the American market is responsible for most of the job losses. In recent years, China has been the biggest problem,” said Tantillo.
“U.S. demand for manufactured goods has skyrocketed, but U.S. products have been pushed off of retail shelves by a virtual limitless flow of foreign goods that are often produced under harsh labor coditions with reckless disregard for the environment.” Tantillo added.
While U.S. demand for Durable Goods and Non-Durable Goods has exploded by 134.5 and 46.9 percent respectively between 1993 and 2005, U.S. production failed to keep pace. U.S. production of Durable Goods grew by 68.2 percent and Non-Durable Goods grew by just 18.2 percent during the timeframe mentioned above.
As a result, U.S. domestic manufacturing only captured 50.7 percent of growth in demand for Durable Goods and a paltry 38.8 percent of growth in demand for Non-Durable Goods between 1993 and 2005. With some growth in exports – including bounce-back outsourcing to Mexico – U.S. domestic production growth covered less than half of domestic demand growth.
“It is imperative for Congress to level the playing field for U.S. manufacturers. Expeditiously passing legislation that would address the massive disadvantage to U.S. producers caused by foreign value-added (VAT) taxes and manipulated currencies would be far more productive instead of trying to move flawed patent legislation and deficit-hiking free trade agreements,” Tantillo declared.
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American Manufacturing Trade Action Coalition
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