Tag Archives: TPP/Trans Pacific Trade Pact

U.S. trade gap soars as imports from other countries climb…

Donald Trump wanted to withdarw from international trade agreements….

He thought that in doing so?

American businesses would be able to mnake MORE money by going on their own….

THAT doesn’t seem likely….

All his idea’s seem to  have done is to have OTHER COUNTRIES seek to take advantage of Trump’s screwing his own countries exporters….

The U.S. trade deficit jumped 8.6 percent in October as imports from China and other suppliers hit a record high ahead of the holiday shopping season, a Commerce Department report released Tuesday showed.

The monthly trade gap totaled $48.7 billion, the highest level for a full month since President Donald Trump took office on Jan. 20.

Ahead of the election, a Trump campaign adviser asserted they could eliminate the deficit in one or two years. Instead, the 2017 deficit is on track to exceed the 2016 level of $505 billion.

Imports of goods and services hit a record high of $244.6 billion as the U.S. economy continued to strengthen and suck in more goods from abroad. Imports totaled $48.2 billion from China, $39.4 billion from the EU and $28.7 billion from Mexico — all record highs….


The Trans Pacific Partnership(TPP) will go ahead without America…

Donald Trump seems to have gambled on having a strong hand to keep ‘America First’ on this and lost….

One could wonder will his move give up American jobs and exports to other countries?

This can only help China in efforts to surpass America as the world’s biggest economy …

……On Saturday, the 11 remaining Pacific Rim countries agreed on a way forward — without the United States. The remaining bloc, whose trade totaled about $350 billionlast year, now has a blueprint to start trading more freely between themselves in a resurrected form of the deal.

There are still many details for the member countries — which include Mexico, Japan, Australia, and Canada — to work out. But the pact, called the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, looks a little different from when the US was part of the negotiations through the end of Barack Obama’s presidency.

About 20 provisions that were once part of the TPP talks have been “suspended,” according to a joint statement by the agreement’s member countries. And there are still four sticking points — including a commitment on coal that affects Brunei — to solve, but experts say a final deal could be announced as early as next year. Each country would still have to sign and ratify the deal to be a member of the agreement.

Ironically, the new deal was announced while many of the bloc’s leaders were with Trump during an international forum in Vietnam. On Friday, Trump gave a speech at the gathering where he said there were “trade abuses” in Asia that hurt the American worker. That was just one day after he accused China of “taking advantage” of the US in trade — and put the blame on past US administrations.

While Trump pursues an America First foreign and trade policy, it looks like at least 11 countries don’t mind leaving America alone….


Asian Pacific countries could go ahead with the TPP Trade pact without the US…

…’Ya gotta be in it to win it’ may NOT be the outcome on this one….

Asian countries should pursue a Pacific trade pact even after the U.S. walked away, and its standards should be incorporated into other regional deals, according to a report authored by half a dozen former trade envoys.

Donald Trump withdrew from the 12-nation Trans-Pacific Partnership in one of his first acts as U.S. president, throwing an agreement that covered 40 percent of the global economy into disarray. That’s left the other nations scrambling on what to do: Either try and proceed without the U.S., hope Trump changes his mind (or Congress does), or prioritize a separate regional deal being championed by China.

The president has attacked trade deals in general and touted an “American First” doctrine that would punish countries whose policies are deemed by the administration to be undermining U.S. jobs. But the rest of the world shouldn’t embrace Trump’s protectionism, the Asia Society Policy Institute report argues…..


Sen Warren Regulations efforts to be trivialized under Trump Admin?…

Wall Street and Financial people are probably gonna have a Holiday ….

A LONG one….

Democratic effort’s against Wall Street Regulations are soon be brushed aside…By how much?…We’ll have to wait and see….

And Presisent Obama excutive orders will be studies for ways to be reversed….

Mary Jo White, the head of the Securities and Exchange Commission, on Monday announced that she would step down two years before the end of her term, clearing the way for President-elect Donald Trump to reshape the way Wall Street is regulated.

The resignation creates a massive opportunity for Trump early in his term to make changes to investor protections and other Wall Street regulations, part of what is widely expected to be a broad effort by the new administration to scale back what Republicans consider cumbersome federal rules that slow economic growth.

“In the long-term, it is going to be a big tilt towards free markets,” said Edward Mills, a policy analyst at investment bank FBR Capital Markets.

Trump and his advisers have taken aim at President Obama’s main regulatory response to the 2008 financial crisis — the Dodd-Frank Act, which tightened oversight of the financial industry. The most visible target is the Consumer Financial Protection Bureau, the watchdog agency that has pursued stricter rules governing debt collection, payday loans and overdraft fees….


PM Trudeau Signals Canadian TPP Approval….

I will predict that sometime in the future President H/Clinton WILL do so also ….

Prime Minister Justin Trudeau gave his strongest indication yet that he will ratify the Trans Pacific Partnership, as Canada’s free-trade deal with the European Union faces collapse.

The 12-nation Pacific Rim deal was reached during the Canadian election campaign last year, weeks before Trudeau took power, and he has neither formally endorsed nor rejected it as his government consults on the accord. Speaking Tuesday, however, he signaled Canada was unlikely to reject a deal that includes the U.S., Japan and Mexico.

“It’s difficult to imagine a world where Canada would turn its back on three of its top five trading partners,” Trudeau said at a youth labor summit in Ottawa, where he was interrupted by anti-trade protesters. “We established very clearly during the campaign that we’re a pro-trade party.”

His pledge comes as the pact with Europe, known as CETA, hangs in limbo. Canada walked out of talks Friday aimed at appeasing Belgium — the sole holdout in endorsing the deal that requires unanimous approval from EU member states — and called on the Europeans to resolve the issue in time it to be signed by Trudeau Thursday in Brussels. EU leaders maintain the deal isn’t dead but said weeks of consideration are still needed….


Poll…American’s Support Free Trade….

While Hillary Clinton and Donald Trump are against President Obama’s efforts to get approval for the Trans Pacific Partnership trade agreement….The NY Times is out with a piece that points to polling that has a slim majoroty of Americans FOR international trade…

The problem for the President isn’t those in favor of that trade…

It’s the noise of those against it…..

….National polls continue to show that Americans either narrowly favor international trade generally, and the so-called T.P.P. specifically, or are split. Younger voters are especially favorable. But Republicans are not, reflecting the influence of the anti-trade nominee Donald J. Trump on his traditionally pro-trade party. And certainly trade remains more unpopular in battleground states like Ohio, where it is blamed for years of manufacturing job losses.

Yet the level of support for trade agreements in general, and the pending Pacific pact in particular, stands in notable contrast to the toxicity of trade in an election season largely defined by anger among working-class voters. What matters to many politicians, however, is the fact that the opponents are the ones most motivated to vote based on the issue — just as they are on issues like immigration and gun restrictions that also have more support than divisive debates suggest.

“There really is a lot of ambivalence on the part of the public” toward expanded foreign trade, said Jay Campbell, a senior vice president with the polling firm Hart Research, who is not working for a presidential campaign.

“At a very basic level they know it’s a necessary thing for the United States to trade with other countries — that is clear as a bell throughout all the polling,” Mr. Campbell said. But when asked about trade’s impact on jobs, “people are more inclined to think it’s more of a negative than a positive.”…



Who here doubts that someone from the White House , or an Obama outlet , planted this story?

President Obama goes to Asia….

The President is trying redirect America from looking almost excusivly at Europe and the Middel East…..To the Far East  and Asia….

It will NOT be easy….

With China’s military trying to expand and Hillary Clinton and Donald Trump against the 12­-nation Trans-Pacific trade deal?…..

President Obama is facing a STIFF headwind…..

President Obama has staked much of his foreign policy legacy on boosting the United States’ presence in Asia. He has increased the number of Navy ships in Asia’s contested waters, forged ties with old adversaries and relentlessly pursued a massive and controversial Asia-Pacific trade accord.

But as he heads to the region for his 10th visit since 2009, the president’s effort to shift U.S. focus more decisively toward Asia remains a work in progress. And the unfinished and reversible nature of Obama’s signal foreign policy initiative raises an even larger question: In an age of political dysfunction at home, chaos in the Middle East and growing threats to the liberal international order, is it possible for any president to set a strategic foreign policy course and stick to it?

Obama’s trip to Asia, which begins Saturday in China with a Group of 20 economic summit and includes a first-ever presidential visit to Laos, offers one view of the challenges he has faced in pursuing his overarching vision.

“We see this trip as really bringing together a number of the president’s top priorities for the last 71/2 years,” said Ben Rhodes, a deputy national security adviser. The list of legacy-defining items includes managing the increasingly tense territorial disputes between China and its neighbors in the South China Sea, cyberespionage, climate and trade….


American’s INCREASE their support for TPP Trade Pack….Poll

President Obama has promised to support the Trade pack….

Both Clinton and Trump oppose it….

In the end ?

This Dog thinks that SOMEHOW Hillary Clinton WILL find a way to get TPP approved…..

(She pushed the Trade Agreement as Sec of State)

Americans are paying more attention to the debate over the 12-country Trans-Pacific Partnership as the general-election season kicks off, but they’re split on whether they support the trade deal, according to a new Morning Consult poll.

Still, more than half (62 percent) of registered voters surveyed from Aug. 8 through Aug. 10 said they had heard little or nothing about the agreement, which would cut tariffs in the trade bloc and establish new rules on issues such as intellectual property, labor and government subsidies. If Congress approves TPP, the pact with trading partners such as Japan, Malaysia, Canada and Mexico would be a major addition to President Obama’s foreign and economic policy legacy.

More than a third of those surveyed (35 percent) either somewhat support or strongly support the accord, compared with the 22 percent who oppose it. Forty-three percent either didn’t know how they felt about it or had no opinion.

This month’s results mark a slight shift in TPP supporters’ favor when compared with a March poll that found 72 percent of surveyed registered voters either hadn’t heard of TPP or didn’t know much about it. In that survey, 29 percent of respondents opposed TPP and 26 percent supported it….


Obama STILL wants TPP…And vows to get it passed….

And THIS Dog believes that a President Hillary Clinton WILL also work to get it passed in some form…..No matter what she says on the campaign trail…

President Barack Obama reaffirmed his support for the Trans-Pacific Partnership, the controversial 12-nation trade deal, and said that he believes he has “the better argument” than the pact’s foes, including Democratic presidential nominee Hillary Clinton.

The agreement has become a flash point in the 2016 election, and Obama acknowledged that globalization and technology have increased anxiety among some Americans. But the president said that abandoning trade deals is not the solution.

“The answer cannot be to back away from trade and the global economy,” he said at a news conference at the White House following a meeting with Singapore Prime Minister Lee Hsien Loong. “It is here to stay. It is not possible to cut ourselves off. To try to pull up the drawbridge on trade would only hurt ourselves and our workers.”

Both Republican presidential nominee Donald Trump and Democratic presidential nominee Hillary Clinton have said they would not support the agreement, which has drawn the furor of blue-collar workers and activists in both parties.

“Right now I’m president, and I’m for it,” Obama said. “I think I’ve got the better argument.”….


President Obama WILL get his trade Bill with GOP help….

The Senate is set to approve fast-track authority for the President ‘Pacific Trade Authority trade pack….

This means that Congress must vote be yes or no on the trade program…No amendments will be allowed…The Trans-Pacific Partnership (TPP) program WILL also passed by Congress , because the trade program involves almost 40% of the world economy, which the US cannot turn down….

The Democrats and Labor will try to fight TPAt, trade-promotion authority,  to get a jobs support bill TAA passed….

President Obama is poised for one of the biggest victories of his second term after the Senate voted Tuesday to advance legislation enhancing his trade powers.

The Senate’s 60-37 vote sets the stage for passage on Wednesday of the trade-promotion authority (TPA) bill, or fast-track, which House GOP leaders ushered through the lower chamber last week. If the Senate approves the measure, as expected, it heads to the White House for Obama’s signature.

After the vote, liberal trade opponents on and off Capitol Hill acknowledged fast-track is all but certain to become law, throwing in the towel after a months-long legislative brawl that saw Obama siding with GOP leaders against his own Democratic base.

The opponents are instead moving the battle lines back in preparation to fight an emerging Pacific trade deal the fast-track power is designed to foster….


Hillary says she’s for the Trade Bill …But it has to have Job security one also…

After playing it safe at first by NOT going for the Democrats all of Nothing on the Trans Pacfic Trade Bill AND the Trade Adjustment Act (which supports help for displaces American workers)…..She has jumped in an now supports having BOTH bills passed …..

President Obama wanted the TAA and TPP bill pased without strings attached…

Democrats added job traing to the TAA bill…..

The 2016 Democratic presidential hopeful reasoned that fast-track, or trade promotion authority, is a process vote, and “I don’t want to say it’s the same thing as [the Trans-Pacific Partnership],” she said during an interview with Jon Ralston on Ralston Reports.

“I certainly would not vote for it unless I was absolutely confident that we would get Trade Adjustment Assistance,” she said.



On THIS G0-Round Hillary Clinton is beginning to sound like the politican she NEVER was…

Bending with the breeze….

Breaking….The House approves Fast-Track Trade Bill…

The House version is different than the passed Senate bill, so it’s back to the Senate for their turn on the Trade Promotion Authority, House bill…

The President had sent the TPP and TAA bills together to Congress, But Democrats balked at that….

As mentioned here , President Obama WILL GET his tarde bill’s approved in the end….

Labor and the anti-Trade Democrats can only hope to wring some consessions out of him and the Republicans and Democrts supporting the trade package…*

The House on Thursday took the first step toward resuscitating the White House’s trade agenda by passing legislation granting President Obama fast-track authority.

The bill now goes to the Senate, where the White House and GOP leaders are seeking to strike a deal with pro-trade Democrats.

The House vote was 218-208, with 28 Democrats voting for it.

This is the second time in a week the House has voted to approve the controversial fast-track bill. On Friday, the House voted 219-211 in favor of fast-track, which would make it easier for Obama to complete a sweeping trans-Pacific trade deal.

In last week’s vote, the House GOP paired the fast-track bill with a measure known as Trade Adjustment Assistance (TAA) that gives aid to workers displaced by trade. Both measures needed to be approved in separate votes for the entire package to move forward.

House Democrats have historically favored TAA, but they voted against it on Friday to kill fast-track, which is deeply opposed by unions and other liberal groups.

The White House still wants both measures to reach Obama’s desk, but is now advancing a different strategy that would see the two bills move separately….



House Speaker Boehner actually gave President Obama time to get more votes in the House by extending the vote time….

Both Houses of Congress will try again  to pass the Trade Adjustment Assistance program  (TAA) , which Democrats want and used the TPP as leverage against Republicans working with the President…

* This post has beeen edited for clarification…