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Press Release - America in the Global Economy

May 19, 2008

Today, In Chicago, John McCain Addressed His Vision For Ensuring America's Economic Preeminence In The Global Economy. John McCain will promote a strong and growing economy – an economy that creates jobs, increases wages, and helps American workers compete with rivals in any market in the world. He will pursue an economic agenda that places the need for low taxes, fiscal discipline, and economic opportunity for Americans above the special interests. His vision stands in stark contrast to that of Senator Obama who promises higher taxes, higher spending, and isolationism from the global economy.

Expanding Opportunities In A Global Economy:

John McCain Will Fight To Ensure American Workers Continue To Benefit From Exports To Other Countries. American workers make and sell about $200 billion in heavy machinery to other countries every year. Our workers export more than $70 billion in aircraft and parts, more than $148 billion in electrical machinery and equipment, and $106 billion in cars, trucks, and other vehicles. In all, one in every five American jobs depends on factory exports.

John McCain's Plan For Global Trade Offers New Opportunities For Small Businesses And Higher Wages For American Workers. Exports are essential to American workers and employers across our nation:

Illinois: Illinois is the fifth largest exporting state. Its merchandise exports have almost doubled since 2002, hitting $48.7 billion last year. Top products include Machinery ($12.7 billion); Transportation Equipment ($7.5 billion); Chemicals ($6.2 billion); Computers & Electronics ($5.8 billion); and Appliances ($2.6 billion). Small and medium-sized enterprises (SMEs) generated nearly one-quarter (23 percent) of Illinois' total exports of merchandise in 2005. A total of 13,891 companies exported goods from Illinois locations in 2005. Of those, 12,359 (89 percent) were SMEs, with fewer than 500 employees

California: California is the second largest exporting state. Its merchandise exports have almost increased 45 percent since 2002, hitting $134.2 billion last year. Top products include Computers & Electronics ($43.7 billion); Machinery ($14.5 billion); Transportation Equipment ($13.7 billion); Chemicals ($10.4 billion); and Agriculture ($6.7 billion). Small and Medium-sized Enterprises (SMEs) generated more than two-fifths (43 percent) of California's total exports of merchandise in 2005. A total of 51,466 companies exported goods from California locations in 2005. Of those, 49,148 (95 percent) were SMEs, with fewer than 500 employees.

Florida: Florida is the sixth largest exporting state. Its merchandise exports have almost doubled since 2002, hitting $44.8 billion last year. Top products include Computers & Electronic Products ($12.2 billion); Transportation Equipment ($7.2 billion); Machinery ($5.1 billion); Chemicals ($4.7 billion); and Appliances ($1.7 billion). Small and Medium-sized Enterprises (SMEs) generated nearly two-thirds (61 percent) of Florida's total exports of merchandise in 2005 – the highest of all 50 states. A total of 28,524 companies exported goods from Florida locations in 2005. Of those, 27,048 (95 percent) were SMEs, with fewer than 500 employees.

Honoring Trade Agreements With Key Allies:

John McCain Is Committed To Pursuing Free Trade Agreements With Our World Trading Partners. As president, he will pursue multilateral, regional and bilateral efforts to reduce trade barriers, level the global playing field and build effective enforcement of global trading rules. Senator Obama has pledged to abrogate our trade commitments, and unsettle the ability of American workers to sell their goods abroad.

John McCain Will Push To Ratify The Colombia Free Trade Agreement. American exporters now pay an extra $3.5 million in tariffs each day because we don't have a completed trade agreement with Colombia. Colombia is a friend and crucial democratic ally. The stability of Colombia is more critical than ever as others in the region seek to turn Latin America away from democracy and away from our country. Trade serves all of these national interests, and the interests of the American economy as well. This agreement is currently being held up in the Senate, in part through the efforts of Senator Obama.

John McCain Supports A Free Trade Agreement With South Korea. America exports nearly $50 billion in goods to South Korea, a key ally that deployed the third-largest contingent of troops to Iraq, and assisted in the rebuilding of Afghanistan. Senator Obama opposes ratifying this agreement, and would turn our nation's back on this commitment to a key ally and trade partner.

Senator Obama's Habit Of Talking Down The Value Of America's Exports And Trade Agreements Harkens To "Old-Style Politics." Senator Obama has proposed a unilateral re-negotiation of NAFTA – an agreement that accounts for 33 percent of American exports. This is bad judgment and a bit inconsistent. Senator Obama scolds others for engaging in the "old-style politics," but playing on fears of foreign trade is resorting to the oldest kind of politics there is.

Helping American Workers In The Global Economy:

John McCain Is Committed To Reforming Worker Assistance Programs. John McCain understands there are vast benefits of a global marketplace, but they come at a cost for many, and we have an obligation to help our workers receive the training they need when plants close and jobs are lost. We have to help displaced workers at every turn on a tough road, so that they are not just spectators on the opportunities of others. John McCain has made a commitment with reforms to expand and improve federal aid to American workers in need.

Pursuing A Responsible Agricultural Policy:

John McCain Will Seek An End To All Agricultural Tariffs, And To All Farm Subsidies That Are Not Based On Clear Need. He will veto any bill containing special-interest favors and corporate welfare in any form. As President, John McCain will base our farm policy on the common good, with policies that help our small farmers to succeed, and our rural communities to survive and flourish once again.

John McCain Will Open Foreign Markets Across The World To American Farmers. The biggest obstacle to this goal, however, is not to be found in any foreign market, or in the policies of any other government. It's in the United States Congress, in the billions of dollars in subsidies served up every five years to corporate farmers.

John McCain Opposes The $300 Billion Farm Bill. Unlike Senator Obama, John McCain opposes providing billions to subsidize large commercial farms with an average income of $200,000, and an average net worth of $2 million while American workers and taxpayers struggle to buy food, because of rising prices.

John McCain, Press Release - America in the Global Economy Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/294633

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