Political Implications on U.S. Foreign Trade Policy: Barack Obama vs. Jon McCain
In order to fully understand the implications on what kind of impact each candidate will have on U.S. foreign trade policy, we must note each candidate’s views and opinions on what the changes they propose if elected. Although both candidates support free trade, there are certain points that they radically disagree on. Barack Obama’s campaign in the category of foreign trade policy focuses on amending the North American Free Trade Agreement (NAFTA), significantly reducing tax deductions for U.S. companies that send jobs overseas, promoting trade agreements that spread labor and environmental standards around the world, and standing firmly against the Central American Free Trade Agreement (CAFTA) as well as the free trade agreements (FTAs) with South Korea and Colombia. On the other hand, John McCain’s campaign supports NAFTA and the FTAs negotiated with South Korea and Colombia, which are now waiting Senate approval. 1 Both Obama and McCain agree to: improve and expand assistance to those who lost their jobs due to trade, impose tariffs on Chinese imports if the yuan continues to rise, and both agree on proposing a policy of cap-and-trade to deal with global warming.2 They present themselves as being in favor of free trade; however, McCain has been a stronger defender of free trade agreements, while Obama has been a more vocal critic. 1 Free Trade in the United States is also deeply unpopular with Democrats in Congress, whose numbers are expected to grow after the election. 3 That means either president will face an uphill battle getting new agreements through. 3 Even if no agreements are signed, the next president will play a crucial role in responding to protectionist pressures from workers, companies and their backers in Congress. 3
“Mr. McCain’s support for free trade is consistent and uncomplicated. According to the Cato Institute, a conservative think-tank, he has...