EPI: Yes, Trade Deficits Do Indeed Matter for Jobs

The issue of currency management by U.S. trading partners that increases U.S. trade deficits has become a front-burner issue in debates over the proposed Trans-Pacific Partnership (TPP). The discussion about whether or not trade deficits can really affect U.S. employment, however, occasionally gets very muddled. Here’s a quick attempt to un-muddle a couple different issues.…

NYT: Trade and Trust

One of the Obama administration’s underrated virtues is its intellectual honesty. Yes, Republicans see deception and sinister ulterior motives everywhere, but they’re just projecting. The truth is that, in the policy areas I follow, this White House has been remarkably clear and straightforward about what it’s doing and why. [Reposted from The New York Times …

The Washington Post: In New Hampshire, Bernie Sanders takes aim at Hillary Clinton on trade

CONCORD – Bernie Sanders says it’s time Hillary Clinton takes a stance on a controversial trade deal that’s dividing Democrats. [Reposted from The Washington Post  |  Paul Steinhauser  |  May 27, 2015] And the independent senator from Vermont, who’s running for the Democratic presidential nomination, told NH1 News Wednesday he’s not concerned about more competition…

Dave Johnson: I’m Not Making This Up: Corporations Use Trade Deals To Attack U.S. Law

President Obama says progressives who warn that trade laws let corporations overrule U.S. law are “making this stuff up.” Two attacks on U.S. laws and regulations are underway right now, illustrating how the “corporate courts” provisions in the Trans-Pacific Partnership (TPP) would open our country up to attacks from foreign corporations. [Reposted from the Campaign…

Summary of Senate Votes Last Week re TPA

  The Senate voted, last week, to pass Trade Promotion Authority (fast-track) bill 62 to 37. Here is a summary of all the votes. 48 Republicans and 14 Democrats voted for it. 32 Democrats and 5 Republicans voted against it. Here are the 14 Democrats: Michael Bennet (D-CO)Ben Cardin (D-MD)Maria Cantwell (D-WA)Tom Carper (D-DE)Chris Coons…

The Baseline Scenario: Why Is The White House Threatening To Veto An Imaginary Trade Promotion Authority (TPA)?

At today’s daily briefing, White House spokesman Josh Earnest communicated the president’s threat to veto any trade promotion authority (TPA) that “could undermine the independence or ability of the Federal Reserve to make monetary policy decisions”.  (The question was posed at minute 42:50, Mr. Earnest’s answer starts at 43:31, and the lead up to this…