Group seeks to reverse growing U.S. trade deficit
Forty-two U.S. metals, textile, chemical cattle, honey and sugar companies, trade associations and unions have united to form the Free Trade for American Coalition to push the U.S. government to crack down on what they claim are unfair trade practices by other countries.
The group was organized and is chaired by Wilbur Ross, chairman of International Steel Group. Other members include the Burlington Industries, the Florida Citrus Association and the American Textile Manufacturers Institute.
The group said the trade deficit, which ballooned to almost $500 billion in 2002, is costing thousands of American jobs.
'The failure to address the causes of the ballooning trade deficit and periodic failure to fully enforce our trade laws is supporting a concerted international effort to transfer America's wealth to other nations,' Ross said in a statement.