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Thread: OBAMA’S ASIAN TRADE DEAL SELLS OUT AMERICAN WORKERS

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    Super Moderator Newmexican's Avatar
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    OBAMA’S ASIAN TRADE DEAL SELLS OUT AMERICAN WORKERS

    OBAMA’S ASIAN TRADE DEAL SELLS OUT AMERICAN WORKERSAP Photo/Andy Wong

    by PETER MORICI11 Jun 201553

    Congress should not grant President Obama authority to conclude another free trade agreement in Asia, because it would lower American wages and exacerbate income inequality.

    The Trans-Pacific Partnership would eliminate tariffs and lower other regulatory barriers to trade and investment among the United States, South Korea, Japan, and nine other Pacific Rim nations.

    If successful, China, India, and several other nations could seek membership. Hence, the TPP has the potential to redefine the rules for international commerce in the most rapidly growing region of the international economy, but President Obama has given ordinary workers good reason to believe he is not looking out for them.

    Free trade deals can permit Americans to earn higher wages by exporting more goods and services that require highly skilled workers and R&D—like pharmaceuticals and software. Even workers displaced by imports could find better jobs if exports grew as much as imports and instigated faster growth with more emphasis on spending for skills-focused education.

    In March 2012, President Obama inaugurated a free trade pact with South Korea and in many ways, it provides a template for what we may expect from a broader TPP.

    Imports from South Korea are up 3.6 billion, U.S. exports are down marginally and the U.S. trade deficit with the Asian nation has swelled to 5 billion. That free trade deal alone has killed about 25,000 American jobs—mostly in high paying manufacturing activities—and added to downward pressures on wages and worsened income inequality.

    President Clinton negotiated a complex bilateral deal to permit China’s entry into the World Trade Organization, but American companies like GM, GE, and Microsoft still must manufacture, form joint-ventures with local companies, and undertake product development in the Middle Kingdom, and American intellectual property still gets ripped off.

    Campaigning in 2008, candidate Obama promised to fix problems like those but he has been weak about confronting Chinese mercantilism, and the $350 billion bilateral trade deficit costs American workers at least 3 million jobs and greatly suppresses wages.

    Over the years, China, South Korea and Japan have violated WTO and International Monetary Fund rules by purposefully undervaluing their currencies to subsidize exports and raise prices for otherwise competitive U.S. products in their markets.

    Such currency manipulation would wipe out the benefits American businesses may expect from the TPP—just as it has done for bilateral deals struck with China, Japan, and South Korea— by eliminating tariffs and reducing other barriers to trade.

    Obama has refused to even formally acknowledge those countries cheat on trade deals already in place by manipulating their currencies or to make strong rules to stop currency manipulation a negotiating goal for the TPP. The president has repeatedly claimed Asian nations won’t sign on to the TPP if it contains a discipline on currency manipulation.

    No wonder, look at the advantage currency manipulation affords countries that cheat on the rules already in place.

    Applying data from the World Bank, which calculates what national currencies should be worth in U.S. dollars to have comparable purchasing power, the yuan, won and yen currently appear to be at least 50, 25 and 15 percent undervalued, respectively. And those exchange rate practices compel other Asian trading nations to follow similar policies, lest they be shut out of markets by unfairly priced Chinese, Korean and Japanese goods—for example, India’s rupee is only about one-fourth its fair market value.

    U.S. multinationals, like GE and IBM, would still profit from the TPP by moving production to Asia to advantage labor and other resources made cheaper by manipulated currencies but ordinary working Americans would face more unfairly advantaged foreign competitors, unemployment and even lower wages.

    As the president has framed the TPP negotiations, it is simply a bad deal for ordinary Americans.

    http://www.breitbart.com/big-governm...rican-workers/


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    It's treason. There's no other word for it in our language.

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    Senior Member vistalad's Avatar
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    Quote Originally Posted by Newmexican View Post
    Obama has refused to even formally acknowledge those countries [China, South Korea, and Japan] -cheat on trade deals already in place by manipulating their currencies or to make strong rules to stop currency manipulation a negotiating goal for the TPP. The president has repeatedly claimed Asian nations won’t sign on to the TPP if it contains a discipline on currency manipulation.

    As the president has framed the TPP negotiations, it is simply a bad deal for ordinary Americans.

    This guy seems to want to punish ordinary Americans for sins which exist only in the mind of our narcissistic hustler in chief.
    **********************************
    Americans first in this magnificent country

    American jobs for American workers

    Fair trade, not free trade
    Judy likes this.

  4. #4
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    Quote Originally Posted by vistalad View Post
    This guy seems to want to punish ordinary Americans for sins which exist only in the mind of our narcissistic hustler in chief.
    **********************************
    Americans first in this magnificent country

    American jobs for American workers

    Fair trade, not free trade
    Yes, vistalad! These pro-free trade traitors are "narcissistic hustlers"! That's a Perfect Term for Obama and anyone else who pushes, promotes or votes for these agreements.

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    Senior Member JohnDoe2's Avatar
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    Hillary Clinton calls on Obama to negotiate a better trade deal

    By Philip Rucker June 14 at 3:11 PM


    Hillary Clinton spoke to voters in Iowa pushing her “basic bargain” ideology on an economy for all Americans, as well as how she would handle the Trans Pacific Partnership deal. (AP)


    This post has been updated.

    DES MOINES -- Democratic presidential front-runner Hillary Rodham Clinton broke weeks of silence on the trade debate that has deeply divided her party, telling a crowd here Sunday that she sides with House Democrats who led a rebellion against President Obama's trade agenda.


    Clinton called on Obama to listen to House Minority Leader Nancy Pelosi (D-Calif.) and the Democratic rank and file in Congress who want the Trans-Pacific Partnership trade agreement to include better protections for American workers.

    If he doesn't, she said, "there should be no deal."


    “In order to get a deal that meets these high standards, the president should listen to and work with his allies in Congress, starting with Nancy Pelosi, who had expressed their concerns about the impact that a weak agreement would have on our workers, to make sure we get the best, strongest deal possible," Clinton said. "And if we don’t get it, there should be no deal.”


    Clinton's remarks came at a campaign rally at the Iowa State Fairgrounds in Des Moines, her first major public event in the state that hosts the first presidential caucuses.


    Hillary Rodham Clinton greets the crowd at her campaign kickoff rally in New York City on Saturday. (Melina Mara/The Washington Post)


    As she began her remarks on trade, Clinton drew a particularly sharp contrast with Obama.


    "No president would be a tougher negotiator on behalf of American workers, either with our trading partners or Republicans on Capitol Hill, than I would be," Clinton said.


    However, Clinton stopped short of directly stating how she would have voted Friday, when House Democrats dealt a humiliating defeat to Obama's free-trade initiative despite the president's personal pleas for support. She focused her remarks on the emerging Trans-Pacific Partnership (TPP), a 12-nation negotiation to forge one of the largest global trade deals ever considered. To get to the final stage of those talks, Obama has said he first needs Congress to approve "fast track" authority for trade deals, a process that won Senate approval last month and is now stalled in the House.


    Her remarks had liberal opponents of the trade deal rejoicing, but supporters of the deal – including West Wing officials and aides to House GOP leaders – painted Clinton as avoiding the immediate issue at hand by not addressing policy specifics. By Tuesday, Speaker John A. Boehner (R-Ohio) is likely to hold a do-over vote on a piece of the trade package that Democrats have blocked, a worker retraining program, even though they actually support its objective. Until that gets approved, the entire trade package is stuck in the House.


    But Clinton’s emphasis appeared to align her with the more liberal faction, led by Rep. Rosa DeLauro (D-Conn.), who pushed Pelosi into a position she had been trying avoid: a Democratic blockade of their party’s president.


    Clinton has come under mounting pressure to join the trade debate -- including from insurgent rival Sen. Bernie Sanders (I-Vt.), who has been railing against Obama's trade agenda and earlier Sunday called on Clinton to join him to "stop this disastrous deal once and for all."

    Clinton, who as Obama's first-term secretary of state was involved in trade negotiations, set out three broad parameters for the TPP. She said any agreement must include protections for U.S. workers, help raise wages and be in the country's national security interests.

    But she signaled which way she leaned by twice referencing Pelosi, who supported the rebellion, and calling on him to work with House Democrats to achieve a better deal.


    “Let’s take the lemons and turn it into lemonade," Clinton said.

    Republicans criticized Clinton for not having a more definitive stance.

    "Hillary Clinton's failure to actually take a position on trade is yet another indication she's running an overly-cautious campaign that's terrified of upsetting the far-left of her Party," Jeff Bechdel, spokesman for the GOP group America Rising, said in a statement. "Blandly stating that President Obama should work with Congress and turn lemons into lemonade is frankly embarrassing for someone who advocated for the Trans-Pacific Partnership just a few years ago."

    http://www.washingtonpost.com/blogs/...er-trade-deal/

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