Statement on Trade Enforcement Unit Created by President Obama
U.S. Senator Debbie Stabenow today issued the following statement as President Obama signed an executive order to create a new trade enforcement unit to crack down on other nations' trade violations:
"The global economy presents many economic opportunities, but when other countries break the rules, we lose jobs. For years I have been leading a growing bipartisan effort to create a Trade Enforcement Unit to fight back against other countries illegal trade violations. Today's action is a big win for Michigan businesses and American jobs.
One of the main provisions of Stabenow's American Competitiveness Plan would create a trade enforcement unit to crackdown on countries who violate trade laws to gain an anti-competitive advantage over our businesses and workers. Senator Stabenow first proposed the creation of a trade enforcement unit in 2005 and has introduced legislation to create the unit ever since. Other provisions of Stabenow's plan include a bill to crackdown on China's currency manipulation (which passed the Senate last year with overwhelming support) and to strengthen penalties for foreign companies who steal American technology and intellectual property.
The new trade enforcement unit created today, officially known as The Interagency Trade Enforcement Center (ITEC), will draw on the resources of the Departments of Agriculture, Homeland Security, Justice, State, and the Treasury. It will monitor and enforce U.S. rights and help counter foreign subsidies that affect American firms.