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In reply to the discussion: The staged performance and then the betrayal [View all]SMC22307
(8,090 posts)161. Let's hope Japan and Malaysia are "scared off."
It's late and I've only skimmed this NYT piece, but the currency manipulation action seems to lie with Stabenow and Portman:
Next week, senators will try to put new demands on those final negotiations. Senators Debbie Stabenow, Democrat of Michigan, and Rob Portman, Republican of Ohio, still want American negotiators to be required to include a chapter in the trade pact forbidding the intentional deflation of a countrys currency to make its exports cheaper and United States exports more expensive.
....
The Senate voted 78-20 on a broad trade enforcement bill that included a crackdown on countries that manipulate their currency. The currency provision would require the Commerce Department to investigate claims by American companies that competitor nations are manipulating their currency to promote their own industries. And if manipulation is found, the government would have to impose tariffs to raise the cost of imports to compensate for the currency price imbalance.
....
Even supporters said that vote was intended more to allow lawmakers to express their frustration on the currency issue. The real showdown will be over the Portman-Stabenow amendment attached to the trade promotion authority itself. If that reached Mr. Obamas desk, supporters say, the president would have to sign it.
....
The trade enforcement legislation includes the creation of an interagency trade enforcement center and a system to respond faster to unfair trade practices, like the dumping of exports at prices below the cost of production. Another provision would require the Customs and Border Protection agency to expeditiously investigate allegations of customs duty evasion. Still another would close a 75-year-old loophole that allows the importation of goods produced with child labor if a company cannot find those goods elsewhere.
....
The Obama administration is walking a tightrope. Congress could give Mr. Obama the authority he needs to conclude a Pacific trade agreement that he sees as a central element to enhance the administrations strategic role in Asia. But officials say that the demands imposed by Congress could scare off key partners such as Japan and Malaysia just as the deal comes into reach.
http://www.nytimes.com/2015/05/15/business/senate-vote-currency-manipulation-fast-track-trade.html?_r=0
....
The Senate voted 78-20 on a broad trade enforcement bill that included a crackdown on countries that manipulate their currency. The currency provision would require the Commerce Department to investigate claims by American companies that competitor nations are manipulating their currency to promote their own industries. And if manipulation is found, the government would have to impose tariffs to raise the cost of imports to compensate for the currency price imbalance.
....
Even supporters said that vote was intended more to allow lawmakers to express their frustration on the currency issue. The real showdown will be over the Portman-Stabenow amendment attached to the trade promotion authority itself. If that reached Mr. Obamas desk, supporters say, the president would have to sign it.
....
The trade enforcement legislation includes the creation of an interagency trade enforcement center and a system to respond faster to unfair trade practices, like the dumping of exports at prices below the cost of production. Another provision would require the Customs and Border Protection agency to expeditiously investigate allegations of customs duty evasion. Still another would close a 75-year-old loophole that allows the importation of goods produced with child labor if a company cannot find those goods elsewhere.
....
The Obama administration is walking a tightrope. Congress could give Mr. Obama the authority he needs to conclude a Pacific trade agreement that he sees as a central element to enhance the administrations strategic role in Asia. But officials say that the demands imposed by Congress could scare off key partners such as Japan and Malaysia just as the deal comes into reach.
http://www.nytimes.com/2015/05/15/business/senate-vote-currency-manipulation-fast-track-trade.html?_r=0
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Those who vote for this will be rewarded by the beneficiaries of this atrocious
sabrina 1
May 2015
#5
The party isn't gonna change. Period. At least not in your lifetime, or the next one.
jtuck004
May 2015
#14
"The love of money is the root of all evil" < That explains a lot of our problems. n/t
jtuck004
May 2015
#184
'Religion" is not used as a deity construct, it is being used as a belief in what used to be the
djean111
May 2015
#28
This is too important to play dimwitted "let's get a post locked" games.
DisgustipatedinCA
May 2015
#30
Losing one's religion is just a saying, it has nothing to do with organized religion/deities.
cui bono
May 2015
#114
I've been afk a bit, what have I missed, what is this in reference to?
Erich Bloodaxe BSN
May 2015
#15
Actually, I'm guessing at that part because the information I've seen is sketchy.
randome
May 2015
#36
That's it. I knew I had it wrong but I wasn't able to find the posts for it. Thanks.
randome
May 2015
#43
A lot of the Dems who voted against the TPP fast tracking reversed their votes, so now
Nay
May 2015
#34
Agree. Protecting human rights as well as corporate rights is not anti free trade.
think
May 2015
#33
I'm waiting for a single BOG er to wake the hell up and admit what this president has done
Doctor_J
May 2015
#86
They insult the very people who put them in office. Why do they even bother to hide this
Elwood P Dowd
May 2015
#140
At the end of "Joe's Garage," Joe - who only ever wanted to play guitar - has been stripped of
RadiationTherapy
May 2015
#208
Here is the greatest example of the point and one of Frank's most exquisite works.
RadiationTherapy
May 2015
#210
I had hoped my anger over this outragous betrayal would have subsided somewhat by now.
99Forever
May 2015
#193