Will President Obama's Trade Policies Impact Global Trade?

The glorious victory of Barak Obama in the US presidential election is resonating all across the globe. How much would his pro-activeness benefit the textile and apparel industries of US? What is in the offing for the Chinese imports into US?
People all around the world would have watched in awe; as Barack Obama was sworn as the 44th President of the US. And for the textile and apparel industries in US, this would be an unprecedented period of protectionist stance against foreign clothing suppliers such as China. It is being assumed that the new Government is going to focus on the economic issues, and help the world to come out of recession. It is also assumed that textile and apparel issues would not top the list for a limited time.
During the past years when US was more dependent on textiles and agriculture, textiles were subjected to a special regime. Obama's trade policy insists on opening markets abroad for manufactured exports along with enforceable labor and environmental standards in free trade agreements. This would result in a decrease in the free textile trade which was transferring more jobs abroad.
Obama's Textile Policy Stance:
In a letter sent to the National Council of Textile Organizations, Obama has expressed his views about the issues facing the textile and apparel industries in US. He has articulated his intention to change the economic policies that had been pursued in the country for the past eight years, and adopt policies that would put the needs of the middle class first.
He has expressed his willingness to take initiatives to curtail the currency manipulation by the Chinese to increase exports and daunt the imports. Obama has also assured to impose a programme to monitor the textile, and apparel imports from China, once the safeguards are removed, and increase the funds and enforcements of policies regarding unfair trade practices. In the letter Obama states, "A fair trading system requires fairness in each countrys foreign exchange practices. The massive current account surpluses accumulated by China are directly related to its manipulation of its currencys value. The result is a large imbalance that is not good for the United States, not good for the global economy, and likely to create problems in China itself. China must change its policies, including its foreign exchange policies, so that it relies less on exports and more on domestic demand for its growth. That is why I have said that I will use all diplomatic means at my disposal to induce China to make these changes." (Source: http://en.wikisource.org)
Earlier, the Bush reign demanded China to increase the value of its currency, with feeble success. But it did not declare China as a 'currency manipulator'. The textile and apparel producers of US have requested the Bush administration to impose a monitoring program against the import surge of Chinese textiles at the expiry of quotas, but were denied. Now, Obama has given an implication that he would impose emergency restrictions against the import surge of Chinese goods.
Possibilities exist that Obama might adopt a tougher stance toward China regarding textile and apparel trade. China's role in the global trade may disseminate protectionist feeling in US, and the reign of Obama may show pragmatism is dealing with China, enabling a quick return to economic growth, rather than damaging the US-China trade relations. Overall, industry analysts positively assert that, the country is in a good position to deal with the global trade regime under Obama's leadership.
References:
1) 'Barack Obama's Letter to the National Council of Textile Organizations', http://en.wikisource.org
2) http://www.ontheissues.org
3) http://www.3plwire.com/
Source:Source: http://www.fibre2fashion.com/industry-article/