Truth In Labels Act

A reader “MM” commented “One thing I would make mandatory is to clearly label the country of origin on all products. It has disappeared with the globalization. I can see it only on a small percentage of products, and then only because the producer is domestic.”

This sounds like a request for a “Truth in Labels” Act.

Reader Kevin quickly got to the key idea with this quip: “Countries of origin listed like percent daily values on a cereal box nutrition label?”

Let’s take “Truth in Labels” labeling to the logical conclusion.

Proposed Label Items

  1. 60% China manufactured
  2. 75% of steel China used from Australia
  3. 100% genuine Chinese coal
  4. 75% of oil used from Iran
  5. 25% of oil from Saudi Arabia
  6. 10% South Korea Steel
  7. 22% Genuine Mexican parts
  8. 10% US value added assumed
  9. Label made in Vietnam with 100% US cotton
  10. Parts from China 40%, Mexico 30%, US 20%, elsewhere 10%
  11. All components shipped to Mexico for final assembly

Label Czar Needed

Not all of the above pertinent to every item. Item 9 primarily applies to garments.

To administer this vital program we would clearly need a label czar.

Disclaimer: The content on Mish's Global Economic Trend Analysis site is provided as general information only and should not be taken as investment advice. All site content, including ...

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