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Politics : Don't Blame Me, I Voted For Kerry
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To: ChinuSFO who started this subject5/13/2004 7:43:15 PM
From: CalculatedRiskRead Replies (1) of 81568
 
Kerry Policies Would Reduce Trade Gap - Adviser
story.news.yahoo.com
By Doug Palmer

WASHINGTON (Reuters) - Democratic presidential candidate John Kerry (news - web sites) would use a combination of tight fiscal policies and tough enforcement of trade agreements to reduce the record U.S. trade deficit, a Kerry aide said on Thursday.

Despite a weaker dollar that has helped push U.S. exports higher, the U.S. trade gap hit a record $489.9 billion in 2003 and is projected to grow even wider this year because of steep oil prices and growing imports from China.

"Sen. Kerry has a comprehensive plan to reduce the trade deficit, and the most important step we can do is getting our economic fundamentals right," said Jason Furman, economic policy director for the Kerry campaign, in an interview.

That includes cutting the U.S. budget deficit in half over four years and taking other steps to make the American economy more competitive. Such steps include reducing the cost of health care and energy and investing in education and training, he said.

Kerry also would use U.S. trade laws and the World Trade Organization (news - web sites) to stop China and Japan from manipulating their currencies to gain a competitive trade advantage.

"(That) would increase U.S. exports to those countries and decrease the price advantage that their imports have right now," Furman said.

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