One of the fastest-growing U.S. exports right now is air. Shipments of empty containers out of the U.S. are surging this year, highlighting the impact the economic slowdown in China is having on U.S. exporters. The U.S. imports more from China than it sends back, but certain American industries—including those that supply scrap metal and…
President Obama will meet on Wednesday (Oct. 21) evening with House and Senate Democrats who support his trade agenda, which comes as the administration has continued briefings and outreach to Congress regarding the Trans-Pacific Partnership (TPP) deal reached on Oct. 5 but still not provided an updated text reflecting the outcome. [Reposted from Inside US…
Washington, D.C. – The U.S. Department of Treasury released its semi-annual Report to Congress on International Economic and Exchange Rate Policies Monday. This was the 14th opportunity under the Obama administration for Treasury to name China a currency manipulator – an opportunity it passed on by not citing the country after its egregious devaluation of…
President Barack Obama’s signature trade deal – the Trans-Pacific Partnership – may not get taken up by the GOP-run Congress until after the 2016 elections, senior Republican and Democratic aides said Wednesday. [Reposted from Politico | Anna Palmer and John Bresnahan | Ocotber 14th, 2015] Mike Sommers, chief of staff for Speaker John Boehner (R-Ohio),…
With TPP, Republicans can please Wall Street and multinationals — but lose the White House [Reposted from Polizette | Kevin Kearns | October 15, 2015] No Republican presidential candidate has made it to the White House without winning Ohio, and 2016 will be no exception, especially as the number of states truly in play narrows…
Given the fact that the global steel price is at its lowest level in more than a decade, it is no surprise that much of the UK’s production is becoming economically unviable. [Reposted from Sky Business News | October 16, 2015] Due to the economic slowdown in China their demand for steel has waned; down…
U.S. Trade Representative Michael Froman on Thursday (Oct. 15) said that the Trans-Pacific Partnership (TPP) deal reached last week cannot be renegotiated because it would upset the careful balance worked out between all 12 countries, and that the current agreement is the one the administration will ultimately send to Congress for approval. [Reposted from…
This week, President Obama announced the completion of negotiations on the proposed Trans-Pacific Partnership (TPP). The TPP, which is likely to drive down middle-class wages and increase offshoring and job loss, has been widely criticized by leading members of Congress from both parties. Hillary Clinton, Bernie Saunders, and other presidential candidates have announced their opposition…
Major U.S. business groups, citing internal frictions and uncertainty over the details of President Barack Obama’s 12-nation Pacific trade deal, are withholding their support for now, hobbling the administration’s early efforts to win congressional backing. [by William Mauldin | October 8, 2015 | Wall Street Journal] With big pharmaceutical companies and several other major…
The White House wants Congress to take up President Obama’s Pacific Rim trade deal long before next year’s lame-duck session, when some congressional aides say a vote is likely to take place [Reposted from The Hill | Jordan Fabian | October 15, 2015] “The timeline that we envision is shorter than that,” press secretary Josh…