Wall street higher amid mixed messages on trade war
WASHINGTON — Some in Congress may be wondering why there’s not more discussion of the Trans-Pacific Partnership, which threatens to expand U.S. trade policies against China, and its economic impact on countries all over the world.
It will soon come up at a bipartisan congressional hearing on trade policy. It’s also likely to be on Capitol Hill soon.
So now we are back where we started — with the same debate and with new evidence from the leaked trade deal. The answer is, Congress may not get to it for years yet.
The agreement could, in effect, require a “translucency shift” if President Barack Obama’s plan to overhaul trade policy — which includes what the White House calls a “transparent process” — collapses. In other words, the bill, or a draft, would likely not survive final approval in Congress.
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This was also what happened this summer after Republicans failed to deliver on the campaign promises that had driven passage of trade agreements like NAFTA and CAFTA. Those deals were criticized as a political mistake that left millions out of jobs and sent the U.S. economy on an unexpected downward spiral. It also was criticized for its failure to address a gr바카라사이트owing U.S. deficit problem by increasing taxes on companies that don’t take advantage of free trade agreements.
By contrast, the TPP agreement, which comes up for a vote in Congress this month, is being drive우리카지노n by a different and more transparent process.
Obama will sign a deal that will give the U.S. president the authority to ratify trade agreements like the TPP and CAFTA — and that gives him the authority to fast-track them through Congress. And all of the members of Congress who are co-sponsoring TPP — Democratic and Republican — are on board with the agreement.
One question facing opponents of the deal: Would any Republican try to block it? As long as it passes Congress with the support of just six out of 13 Democratic member더킹카지노s of Congress, Republicans could prevent the deal from ever taking effect in either 2016 or 2028. The party could also block passage of future trade pacts after that time.
The result is a trade deal that would give the U.S. president the authority to negotiate trade deals with nearly 80 countries while reducing trade barriers between countries based on trade volumes, to create trade pacts that both strengthen and reduce trade barriers among countries and the impact that trade agreements will have on countries all over the worl