Thursday 12 August 2010, 10:09 clock
WASHINGTON (Reuters) - The U.S. government is boosting the manufacturing sector among: President Barack Obama on Wednesday signed a law that brought the industry in the U.S. lower import duties on the materials they need from abroad to manufacture its products .
Some duties will in fact be suspended completely. Examples are certain types of computer chips, or even leather, from which running shoes are manufactured.
The law is part of the "Make it in America" program that promote Obama's Democrats in view of the congressional elections in November. The goal is to reduce the large U.S. trade deficit with countries like China by domestic companies will be supported. "Our economy is the habit forfeited to buy overseas and sell it not as it should. It is extremely important that we reverse this trend," the president told business people in the White House.
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