WASHINGTON — President Obama proposed $26 million in funding for a new Trade Enforcement Center focused on cracking down on unfair trade practices, in addition to more money to help achieve his goal of doubling exports and boosting other trade priorities in his $3.8 trillion federal budget proposal submitted to Congress on Monday.
While the President’s blueprint for the federal budget in fiscal year 2013, which begins Oct. 1, calls for dramatic belt-tightening, with $4 trillion in projected deficit cuts over the next decade, it calls for more money to be devoted to trade enforcement and the agencies that negotiate trade deals and help support boosting exports. One of the largest trade initiatives, which Obama outlined in his State of the Union address last month, is a new trade enforcement unit that will go after unfair trade practices, such as counterfeiting and illegal subsidies by trading partners.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"