Made in Eagleville China

                According to figures released by the U.S. Treasury, as of the end of 2013, the United States debt was $17.35 trillion.  China is the largest holder of U.S. Treasuries at $1.227 trillion, making them the No. 1 investor among foreign governments.

                China's investment in the United States is not without controversy.  If China stops buying or decides to sell a portion, Treasury prices would fall, yields would rise and economic growth and higher borrowing costs would come to the U.S.

                But, what many fear most is that China's position could be seen as leaving the United States vulnerable, economically, to a foreign government.

                With such a large investment in the United States, one would hope that China wouldn't bow to either of the scenarios because they have a vested, financial interest in the health of our Treasury market; but, there are no guarantees.

                 Last week, an agreement was made between Russia and China that will see $400 billion worth of natural gas flow over the next 30 years from Siberia to the Chinese mainland through a $70 billion pipeline.  So much for slapping Russia's hand by threatening to have the European Union buy their natural gas elsewhere over the crises in the Ukraine.

                We import $334 billion worth of goods from China each year, making them the largest exporter to the U.S.

                That brings us to tariffs – the tax on imported goods and services.  They are intended to increase the price of imports and, hopefully, help domestic manufacturers compete against cheap labor costs in other countries. 

                It was reported recently that Streamlight Inc. of Eagleville, Pa., was liable for an $8 million retroactive tax for a tiny part (made of aluminum) they import from China and used in the manufacture of their high-powered flashlights.

                Those unfamiliar with Streamlight Inc. should know that their products are used locally and nationally by firefighters and fire police; emergency medical technicians and other rescue personnel; police and other municipal workers and more.   They employ more than 250 workers at their Montgomery County plant.

                Now, if you owe a tax or tariff, you need to pay it.  But, what is completely outrageous here is that if the entire flashlight was manufactured in China, it wouldn't be subject to any tariff on its entry in the United States.  So, what's the answer?  How about closing the entire plant and move the manufacturing jobs to China.  Not a pleasant thought.

                In a time when people are critical of companies sending jobs overseas, our own Department of Commerce seems lax to review some of the rules and regulations that are causing it.

                All Streamview wants is a day in "court" to plead their case at a hearing with the Department of Commerce.  Shockingly, the Department of Commerce has the right to summarily dismiss the case, even before it is argued!  So far, a hearing has not been granted.

                This has to be an oversight in the rules and regulations of the tariff imposed and need to be reviewed. 

                We don't need another reason for sending manufacturing jobs and money overseas.