Require all goods and services that are consumed in the US to be produced and provided according to labor, wage, equal opportunity, environmental, OSHA and other regulations that apply to companies in the US and the rest of the developed world.
The current regulatory environment encourages the outsourcing of manufacturing and service jobs that the US and the rest of the developed world need to regain financial and social stability.
Fair trade should replace free trade to reduce outsourcing trends and raise living standards in the developed and developing world while helping the US reduce its $600 billion annual trade deficit.
To be most effective, international standards should be developed and adopted with leadership from the US by all G7 nations.