In the important area of international trade, independent presidential candidate James Jerome Bell urges our government to do the following:
- Re-formulate all international trade relations and commerce as currently upheld by the North American Free Trade Agreement (NAFTA), the World Trade Organization (WTO), the International Monetary Fund (IMF) and World Bank (WB) to protect the labor, human rights, economy, environment and domestic industry of partner and recipient nations so that the growth of local industry and agriculture has the advantage over foreign corporate domination. The U.S. government should call for replacing the WTO, IMF, and World Bank with new institutions that are democratic, transparent, and accountable to the citizens of all nations.
- While the IMF and World Bank still exist in their current forms, he would re-structure the rules of performance of the IMF/WB to end the debts of recipient nations, prohibit the use of IMF/WB loans to impose structural adjustment programs that emphasize debt service and export-led development at the expense of social needs, and to install strict standards in the IMF/WB that control the use of grants or loans to prevent fraud, misuse, and subversion of funds by recipient governments.
- He would re-write the rules for investment of corporate capital in projects operated under the IMF/WB to guarantee the rights of the citizens of the nations receiving the investment and their right to public ownership and control of their own resources.
- He would mandate and protect labor’s right to organize, create unions and negotiate with management in all countries receiving U.S. investment, and require U.S. corporations that operate in other countries to adhere to the core labor standards established by the International Labor Organization (ILO) Declaration of the Fundamental Principles and Rights at Work.
- Legislate and enable oversight by an independent agency or a labor union to verify that foreign workers’ rights are protected.
- Domestically, he would secure the rights of our states to establish stricter standards for health, safety, and for the environment than those of our national government, and to protect themselves against substandard, imported goods.
- He would secure the right of states and municipalities to refuse to invest in foreign businesses that do not abide by their standards for imported goods, fair trade, and environmental protection.
- Finally, independent presidential candidate James Jerome Bell would prohibit U.S. corporations from avoiding or evading payment of their taxes by banking abroad or locating their charters offshore.