Wilbur Ross, the financier who is in the process of acquiring control of textile giants Burlington Industries and Cone Mills, has spearheaded the formation of a new coalition of manufacturing, business and agricultural organisations to campaign against unfair international trade practices.

Speaking at a Washington press conference on Thursday announcing the formation of the Free Trade FOR American Coalition (FreeTAC), Ross said: "America''s standard of living is being systematically destroyed by our international trading partners and the people must be made aware of this economic disaster.

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. It is time for the American people to demand that their government quickly reverse the devastating trade deficit." 

Between its members, the coalition has access to 3,000 corporate
constituents and two million employees.

Among the founding members are the American Fiber Manufacturers Institute, American Textile Manufacturers Institute, American Manufacturing Trade Action Coalition, Dillon Yarn Corporation, National Cotton Council, National Spinning Co Inc, National Textile Association, Nylstar Inc, Parkdale Mills, Sunbury Textile Mills, and the Textile Distributors Association.

ATMI acting president Cass Johnson applauded Ross for organising the coalition and for bringing a new message and a new sensibility to the trade arena.

Johnson said: When the US Trade Representative announces major trade initiatives by inviting WalMart, a company that sources almost three-quarters of its products from China, to the stage, you know American workers are in trouble.

America desperately needs a trade policy that works for American
workers, rather than sending their jobs overseas.