Executive Council Statement
Trade Statement
… manufacturing economy. The U.S. trade deficit and the associated imbalances in the world economy were key contributors to the economic crisis that began in 2007. U.S. trade policies have contributed to the loss of millions of manufacturing … rates, fueling the credit-driven housing bubble of the last decade. The Obama Administration has taken some steps in the right direction. Vice President Biden’s Middle Class Task Force has adopted a national manufacturing strategy, which has … deficit, China’s manipulation of the value of its currency is central. Unless this is addressed, it will be impossible to right global economic imbalances and to put the United States (and the world) on a path to long-term and sustainable economic …