President Obama is trying to rally his supporters around his trade bill. But, as the email subject line suggests, he understands there are many critics of the bill: "I understand the skepticism about this."
"I want to set the record straight," the president of the United States writes.
"Right now, we have an opportunity to set the most progressive trade agreement in our nation's history -- with enforceable labor and environmental protections we simply can't count on other nations to pursue.Read more
Democratic senator Sherrod Brown is subtly accusing President Barack Obama of sexism in his attacks on Senator Elizabeth Warren, also a Democrat.
"I think the president was disrespectful to her by the way he did that...made this more personal," Brown told reporters.Read more
Alabama senator Jeff Sessions, a Republican, has written a letter to President Barack Obama regarding the request that Congress "fast-track" legislation on Trade Promotion Authority. Sessions says he has a number of questions Congress should expect answers to before the body agrees to "yield its institutional powers." Read the full letter below:
Dear Mr. President:Read more
Most of the time the International Trade Commission makes the news -- in these pages, at least -- it’s because of its enforcement of anti-dumping rules that do little but boost the price of items such as steel and sugar for U.S. consumers.Read more
Elizabeth Warren ripped the Obama administration for disagreeing with her on trade. Warren made the comments on Twitter.
"The Obama Admin says I'm wrong - we shouldn't worry about TPP. So why can’t the American people read the deal?" Warren's tweet reads.
The Obama Admin says I'm wrong - we shouldn't worry about TPP. So why can’t the American people read the deal? http://t.co/PoavXNJlRSRead more
After China supplanted Japan in 2011 as the world’s second-largest economy, some China scholars, as well as pundits and economists, began forecasting when it would supplant the United States as the largest. Extrapolating China’s remarkable 9-10 percent average annual growth in the prior three decades, these forecasters placed the GDP crossover in 2020. When China experienced a slowdown to 7-8 percent growth in 2012-2014, the crossover was deferred to 2024-2025.Read more
The right and left are moving towards each other, in a sort of pincers movement designed to destroy the army of free traders pressing Congress to give President Obama what is known as fast-track authority. That would permit him to put any trade deals he negotiates with eleven Pacific Rim countries (the Trans-Pacific Partnership, or TPP) and the EU (the Transatlantic Trade and Investment Partnership, or TTIP) to Congress on a take-it-or-leave-it basis.Read more
It is mandatory for economists to point out that one data point does not make a trend. We then all-too-often fill space with, er, a discussion of one data point, most usually the monthly report on job creation. Not being one to defy convention, I will report that Friday’s jobs report was a yawner. The 217,000 new jobs created in May finally pushed total jobs above pre-recession levels, but the unemployment and labor force participation rates remained unchanged at 6.3 percent and 62.8 percent, respectively. No post-winter jobs growth spurt, at least not yet, but no reversal of recent growth either.Read more
Free traders are ecstatic. Negotiators at the 9th World Trade Organization ministerial conference in Bali cheered, hugged, and wept at what they see as the successful culmination of their recent round of talks. “A giant step for businesses large and small,” enthused the CEO of UPS.Read more
As Congress moves ahead with the farm bill -- legislation that has historically been full of (figurative) pork -- there's one really obvious measure that needs to be eliminated. A new program that will require that catfish be monitored by the Department of Agriculture. Catfish, like all fish consumed by Americans, is already monitored by the Food and Drug Administration. Supposedly, this extra layer of regulation is a matter of food safety.Read more
The WEEKLY STANDARD podcast with senior editor Lee Smith on President Obama's puzzling new Iran strategy.Read more
Here’s a TTIP for you. No, that’s not a typo missed by our ever-vigilant editors. It stands for Transatlantic Trade and Investment Partnership, what British prime minister David Cameron calls a “once-in-a-generation prize” that can create two million jobs on both sides of the Atlantic, and Sir Peter Westmacott, Britain’s ambassador here in Washington, reportedly describes as the “Holy Grail” for resuscitating transatlantic economies.Read more
Free trade might not be the first casualty of an American election campaign, but it is right up there in the top rank. President Obama is bashing Mitt Romney for sending jobs to China when he ran Bain Capital, and Romney is returning the favor by accusing Obama of failing to label China a currency manipulator, and “being China’s doormat at the expense of America’s workers.”Read more
Xi Jinping, the heir apparent to the leadership of the Chinese Communist regime, came to America to meet the president, dine with the vice president, visit a farm in Iowa—following in the 1959 footsteps of Nikita Khrushchev—and attend a basketball game in Los Angeles. The Iowa visit was designed to remind Americans that Xi, who visited Iowa 27 years ago, has a long-standing attachment to America, reinforced by the fact that his daughter is attending Harvard, and that Iowa’s farmers rely heavily on income from exporting their agricultural products.Read more
Some fear America is about to go protectionist. Others fear it won’t. Where you stand on this issue depends on where you sit. Sit in the chair of the CEO of a major exporter, and you fear protectionism and the ever-rising spiral of retaliations. Sit in the chair of the president of a trade union, and you welcome what others call protectionism and you call fair trade. Sit in the chair of a Wal-Mart customer and you fear anything that will drive up prices, putting pressure on your over-stretched budget.Read more
In her remarks to the 41st Washington Conference on the Americas this past May, Secretary of State Hillary Clinton declared the Western Hemisphere “vital” to U.S. interests, adding that Latin America and the United States “will rise or fall together in the 21st century.” Unfortunately, the Obama administration has yet to champion a regional initiative that matches Secretary Clinton’s lofty rhetoric.Read more
During Tuesday night’s debate in New Hampshire, moderator Karen Tumulty challenged Mitt Romney on his recent tough talk on China. Romney says China is a “currency manipulator” and argues that, by setting unfair prices and allowing the theft of American intellectual property, the Chinese government is cheating world markets and must be held accountableRead more
In today's Wall Street Journal, Dan Blumenthal and Michael Mazza note that the China's growing military might should give American leaders something to think about with regard to our defense budget:Read more
Despite high unemployment, the Obama administration has been slow to come up with an effective trade policy. It’s seemingly been trying with Colombia, Panama and South Korea, but its lack of success is startling.Read more
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