The following amendment to the Constitution is proposed to assure the enactment of trade policies that pursue a restoration of a balance of trade. It is worded to provide for a proactive approach by the United States, as opposed to a passive approach that relies upon the promises and good faith of other nations.
28th Amendment to the Constitution of the United States
The United States shall not maintain a trade deficit with the rest of the world. The Congress shall enact trade policy utilizing import quotas and tariffs as necessary to assure that the cumulative effect of trade over the years, as measured in current dollars, is to maintain a neutral or positive balance of trade. The Congress shall review and adjust as necessary such import quotas and tariffs annually to maintain an overall, cumulative balance of trade. The United States shall not be a member to any international organization that does not recognize the United States’ fundamental right to manage international trade in its best interest.
What This Amendment Does and Does Not Do:
It forces Congress to restore a balance of trade by enacting import quotas and/or tariffs, putting control of our trade results in our hands instead of relying upon the promises of other nations.
It prohibits membership in international organizations like the WTO (World Trade Organization) that do not recognize the United States’ fundamental right to manage trade in the best interest of its citizens.
It does not repudiate free trade or globalization. It merely requires that they be conducted in such a way as to assure that the United States does not run a trade deficit.
It does not prohibit trade agreements with individual nations that may result in a deficit. It merely requires that the sum total of all such agreements result in an overall balance of trade with the rest of the world.