Fair Trade

With 95% of the world's consumers outside the U.S., America's economic health depends on open markets at home and abroad. We need to build a competitive, better educated, healthier, more innovative, and diverse workforce, capable of thriving in a dynamic global economy.

Each of us must contribute. Developed and developing countries, governments and industry, shareholders and employees - we are all beneficiaries of the global trading system, and we all share a responsibility to protect and strengthen it.

GE is working hard to foster free and fair global commerce while enhancing U.S. competitiveness. We believe firmly in the importance of some baseline realities:

• A strong and credible multilateral trade system, overseen by the World Trade Organization, is vital to the global economy.
• Global trade must be fair. From international labor and environmental standards to intellectual property rights to market transparency, all participants in the global economy must live by international rules of the road. Technical standards should not be used to bar access; governments should refrain from trade-distorting subsidies; and WTO decisions must be respected.
• The solution to global competition is improvement, not isolation. Governments must pursue domestic policies that allow their citizens to thrive in the global economy. Governments should strengthen the health and education of their citizens; build necessary trade-related infrastructure; adopt prudent fiscal and monetary policies; and enhance the capacity of their citizens to compete in an increasingly integrated global economy.

For the U.S. to be more competitive we need to improve math, science and engineering education. We need a healthcare system that supports America's workers and companies instead of adding to their burdens. We need sustained investment in research and development, and a tax policy that lets U.S. companies compete globally on a level-playing field with foreign-based companies. We need an immigration system that attracts the world's most talented people, and we need a worker retraining program that prepares people to excel in a dynamic global environment.

• The U.S. market and markets around the world must remain open. Protectionism is a short-sighted "solution" that must be avoided. Trade and investment barriers deter foreign participation in domestic markets, add cost to what consumers buy, hamper innovation, limit growth, and ultimately reduce living standards at home and abroad.
• The U.S. must continue to open markets abroad. Because America's economic strength comes from its integration in the global economy, the U.S. must shape and lead this global economic integration. Exports are critical to America's economic health, and bilateral and regional trade agreements are key drivers of export growth. Meanwhile, our competitors are not standing still; over 150 trade agreements have been negotiated globally since 2002. The U.S. cannot afford to watch these developments from the sidelines.

As a global company with operations in over 100 countries, GE believes in the vital importance of an open and durable international trade network. GE's 150,000 U.S. workers and its more than 235,000 U.S. retirees depend on continued U.S. leadership in international trade and successful engagement in the global economy.

Contacts

• Gary ShefferGE Corporate, Vice PresidentCommunications & Public AffairsWork +1 203 373 3476 Email Gary
• Peter O'TooleGE Corporate, DirectorPublic RelationsWork +1 203 373 2547 Email Peter