WASHINGTON: Removing US import barriers would throw about 175,000 Americans out of work but benefit the US economy as a whole, according to a new study by the US International Trade Commission.
The report comes as a disagreement in the Senate continues to block progress on a bill that would boost President George W. Bush’s authority to negotiate new trade pacts.
In a meeting on Wednesday with Senate leaders, Bush called on Congress to finish its work on the trade promotion authority bill by the fast-approaching August recess.
Most of the projected job losses — or about 155,000 — in the ITC study were in the textile and apparel sectors, which are heavily concentrated in North Carolina, South Carolina and other southeastern US states.
Thousands of cotton and sugar farmers would also have to find new jobs if import barriers protecting those industries were removed, the ITC said in the study, which was based on employment and trade measures in place in 1999.
Even with the sectoral job losses, total employment was projected to rise by some 17,000 jobs if US import barriers were eliminated. That is a tiny fraction of the current US civilian work force, which is about 142 million.—Reuters