WSJ: New Push to Win Backing for Pacific Trade Bill

Obama and GOP leaders intensify push to win votes after warning that support in the House may be lacking [Reposted from the Wall Street Journal  |  William Mauldin and Siobhan Hughes  |  April 30, 2015] President Barack Obama and Republican leaders intensified their push Thursday to win votes for major trade legislation after lawmakers warned…

Politico: Obama trade bill in trouble

The House is currently dozens of votes short of being able to pass legislation that would allow President Barack Obama to send trade deals to Congress for fast approval, according to senior lawmakers and aides in both parties, imperiling a top White House priority for the president’s final years in office. [Reposted from Politico  | …

Trade Deficit halts First Quarter GDP Growth

The trade deficit caused first quarter US GDP growth to be basically zero – specifically 0.2%. Exports were down 7.2% while imports were up 1.8%. The Bureau of Economic Analysis news release says: The increase in real GDP in the first quarter primarily reflected positive contributions from personal consumption expenditures (PCE) and private inventory investment…

Stiglitz: Net Job Destruction from Trade Deals

In a March 2015 speech, former Nobel Prize winning economist Joseph Stiglitz says that trade agreements, on net, have destroyed jobs. He says that economists increasingly agree that exports create jobs and imports destroy jobs.  The question is what NET result, which of course has been negative. Export opportunities are fine if you can access…