What You Should Know About That Completed TPP “Trade” Deal

Countries negotiating the Trans-Pacific Partnership (TPP) say they have reached a deal. So here it comes.

Monday morning it was announced that a “Trans-Pacific Partnership Trade Deal Is Reached,” presented as much as a foreign policy success as a “trade” deal.

“The United States, Japan and 10 other Pacific basin nations on Monday agreed after years of negotiations to the largest regional trade accord in history, an economic pact envisioned as a bulwark against China’s power and a standard-setter for global commerce, worker rights and environmental protection.

… The trade initiative, dating to the start of his administration, is a centerpiece of Mr. Obama’s economic program to expand exports. It also stands as a capstone for his foreign policy “pivot” toward closer relations with fast-growing eastern Asia, after years of American preoccupation with the Middle East and North Africa.

The effect the deal will have on actual “trade” is unclear, since the U.S. already has trade agreements with many of the participating countries. Also much of the deal appears to be about things people would not usually consider “trade”, like investor rights and limits on the ability of countries to regulate.

Though the deal remains secret, here is some of what is known about the agreement deal.

● Currency manipulation is not addressed in TPP, even though Congress’ “fast track” legislation said it must be. To get around this, a “side agreement” supposedly sets up a “forum” on currency. Past side agreements have proven unenforceable. For this reason Ford Motor Company has already publicly announced opposition to TPP.

● A “tobacco carve-out” is in the deal, in some form. This was added because the agreement contains investor-state dispute settlement (ISDS) provisions that will allow corporations to sue governments that use laws or regulations to try to restrict what the companies do. These provisions restrict the ability of governments to protect their citizens so thoroughly that tobacco companies have used ISDS provisions in similar agreements to sue governments that try to help smokers quit or prevent children from starting smoking. TPP proponents felt that this carve-out will help TPP to pass, while the ability to limit other laws and regulations remains.

● President Obama has said TPP includes the “strongest labor provisions of any free trade agreement in history.” Previous “trade” agreements do not even stop labor organizers from being murdered, so even if TPP has “stronger” labor provisions, that is an extremely low bar.

● TPP reduces or eliminates many tariffs, further encouraging companies to move factories out of the U.S. to low-wage countries like Vietnam. An example of the effect TPP will have on U.S. manufacturing is Nike vs. New Balance. Nike already outsources its manufacturing to take advantage of low wages, while New Balance is trying to continue to manufacture in the U.S. When tariffs on imported shoes are eliminated Nike will gain an even greater advantage over New Balance. New Balance has said that the tariff reductions in TPP will force it to stop manufacturing inside the US.

● The reduction and elimination of tariffs reduces revenues for the governments involved.

What Next?

Here is a brief rundown on what to expect as TPP begins to make its way toward a Congressional vote:

● The TPP is still secret and according to the terms in this year’s fast-track legislation it will remain secret for 30 days after the president formally notifies Congress that he will sign it. That could be a while still, as the agreement’s details need to be “ironed out.” After that 30-day wait the full text has to be public for 60 days before Congress can vote. The full timeline is yet to unfold and will be reported here as it does.

● Expect a massive and massively funded corporate PR push. The biggest corporations very much want TPP. It massively benefits the interests of giant corporations and the “investor” class, even as it incentivizes moving jobs and production out of the U.S.

● While only a small portion of TPP is about what people would normally consider to be “trade,” TPP will be heavily pushed as a “trade” deal. Many people believe that “expanding trade” increases jobs. Note that closing a U.S. factory and importing the same goods “expands trade” because those goods cross a border.

Also see the American Prospect, “What’s Next for the TPP: Clyde Prestowitz in Conversation with David Dayen.”

Questions To Ask About TPP

When the still-secret TPP becomes public, these are some of the questions the public will want answered:

● What do regular, non-wealthy people in the U.S. get from TPP? Will it increase American wages? Will it have provisions that force wage increases in countries that currently pay very little, thereby helping those workers (and helping them buy American-made products, too) and reducing downward pressure on American wages? Or will there be NAFTA-style provisions encouraging outsourcing to low-wage countries like Vietnam, creating further downward pressure on wages and increasing inequality?

● What do people in the U.S. lose? For example, the Los Angeles Times explains, “U.S. industries such as auto, textiles and dairy, however, could experience some losses as they are likely to face greater competitive pressures from Vietnam, Japan and New Zealand.”

● Does the TPP contain badly needed provisions to require member countries to jointly fight global climate change?

● Will provisions on state-owned enterprises force further privatization of publicly owned and publicly operated infrastructure like the U.S. Postal Service, highways, water systems and other public utilities – even services like municipal parking operations?

● Will TPP enable the U.S. to continue using tax dollars to help American companies, like our “Buy America” procurement policies?

● Will TPP expand imports from countries where food is often found to contain banned toxic chemicals? If so, will TPP require increases in food and product safety standards and inspections?

● Does the TPP increase oversight of financial companies like banks, insurance companies and hedge funds?

TPP Pits Obama, Republicans, Wall Street And Big Corporations Against Democrats, Labor, Progressives

While still secret, the agreement is likely to have many of the same proponents and opponents as the fast-track trade promotion authority battle had. As the Los Angeles Times words it today, it “pits the White House, many Republicans and supporters of free trade against organized labor, civic groups and many lawmakers from Obama’s own party, who fear the deal will hurt workers and the environment.”

In a Monday morning call Representative Rosa DeLauro (D-Conn.) said the TPP text Congress is allowed to see has not been updated for some time, so even they don’t know what is in it. Saying Congress has had to rely on leaks and hasn’t seen the supposed “side agreements” at all, DeLauro asked the administration to “have the courage” to show Congress and the public the text now.

DeLauro complained that leaked drafts show U.S. negotiators negotiating hard for pharmaceutical companies, but not for the interests of American workers. “The administration has put big corporations first, workers last.”

She said rules-of-origin requirements allow less than half to be made in U.S. and TPP countries, the rest can come from countries like China. “None of us can think of a clearer mechanism for taking American jobs”

Rep. Paul Tonko (D-N.Y.) said, “we’ve seen the nightmare NAFTA brought to our manufacturing sector and hard-working American families; this deal is NAFTA on steroids” because this is much broader. Multinational corporations will benefit from increased drug prices and access to cheaper labor.

Rep. Dan “Rock Star” Kildee (D-Mich.) said “what’s not there is there is a lack of any enforceable currency provision. This ties American manufacturer’s hands behind their back as they try to compete. Worse, new rules of origin allow the Chinese to provide more than half the content of a car and it will be treated as domestic. Combined with no currency rules, this will have a devastating effect.”

He added, “I would ask members who voted for fast track to look at the details. When they see specific details and impact on their businesses I think they will vote no.”

Rep. Debbie Dingell (D-Mich.) said, “I’m a car girl … we are only operating on early reports but already Ford and Chrysler are opposed, joining the UAW, and those companies have strongly supported previous deals.”

Rep. Brad Sherman (D-Calif.) called TPP a “huge win for China because of currency, rules of origin; we get zero access to the Chinese market.”

On the ability to ensure even these ow rules of origin, Sherman said, “What about de facto rules? How does anyone police it? Are Chinese going to report companies that are mislabeling?”


The Teamsters are asking people to sign this petition:” Tell Congress: Show Me the Text on Reported TPP Deal.”

Democratic presidential candidate Bernie Sanders has released this petition and is asking people for signatures: “Sign my petition to join our fight against the disastrous Trans Pacific Partnership trade deal. We cannot afford to let this trade deal hurt consumers and cost America jobs.”

The U.S. Trade Representative office has released this summary


This post originally appeared at Campaign for America’s Future (CAF) at their Blog for OurFuture. I am a Fellow with CAF. Sign up here for the CAF daily summary and/or for the Progress Breakfast.

Can Biden Run For President With TPP Around His Neck?

Vice President Joe Biden is considering a run for president. But Biden is currently working behind the scenes to push the Trans-Pacific Partnership (TPP), which most (if not all) core Democratic-aligned groups will likely oppose. Can Biden run for president as a Democrat after pushing TPP on us?

While TPP is being negotiated in secret, some parts of it have leaked. This limited information indicates that TPP is another “NAFTA-style” corporate-dominated agreement, designed to elevate corporations above government, limit the ability of citizens to make laws and regulations that protect them from corporate harms and scams, and to force wages down so a few executives and “investors” can pocket the wage differential.

Autos And Parts, For Example

One (only one) example of the “NAFTA-style” damage that TPP might do is a provision that actually weakens the limited protections NAFTA granted to auto and parts manufacturers.

Under NAFTA, auto companies and parts suppliers in countries in the agreement were given a level of tariff-free status through “content requirements.” But, according to leaks, in TPP the U.S. is actually pushing for lowered content requirements for cars and auto parts. (I explained the details in “TPP Terms Are Even Worse For U.S. Than NAFTA?“) This means China can get that business through Japan, which will force layoffs of workers and closures of factories. This is just one example of how TPP is actually even worse for American (and Canadian and Mexican) workers than NAFTA was.

Celeste Drake of the AFL-CIO explains further, in “Do U.S. Workers Really Have to Rely on Canadian and Mexican Negotiators to Look Out for Our Jobs?“:

Last month, Canadian and Mexican officials did the math and said no deal! They objected to these low standards, with Mexico’s Minister of the Economy explaining, “What you can accuse me of” is advocating for “the interests of my country.”

Why aren’t the United States’ own negotiators doing the same? If the reported deal is accurate, it would wipe out jobs throughout the U.S. supply chain. Even with a far higher regional value content rule, U.S. jobs are still at risk to other TPP countries, including Japan, Malaysia and Vietnam. But the lower the regional value content required by the TPP, the more auto sector jobs U.S. workers stand to lose.

Another example (one of many) of TPP’s probable damage is Nike vs New Balance. Nike pioneered outsourcing, now making its shoes in ultra-low-wage countries like Vietnam. Meanwhile New Balance is still trying to make some of its shoes in the U.S. TPP will lower the tariff on shoes brought in from Vietnam, rewarding Nike for outsourcing, and killing off New Balance’s ability to make shoes in the U.S., forcing layoffs and factory closures.

Biden Active In Pushing TPP

Biden does not just happen to be in an administration that is pushing TPP; he is working hard to push TPP himself.

For example, Biden met with Japan’s Prime Minister Shinzo Abe in New York Tuesday to encourage him to help wrap up TPP this week. Japan Times has the story, in “Abe, Biden agree to work together to conclude TPP talks possibly this week“:

Prime Minister Shinzo Abe and U.S. Vice President Joe Biden agreed Tuesday that the two countries will cooperate to conclude talks on a Pacific free trade initiative this week, both governments said.

Biden and Abe agreed that their negotiating teams for the Trans-Pacific Partnership would work closely together “with the goal of resolving the limited number of outstanding issues at the upcoming ministers meeting in Atlanta,” according to the White House.

… A Japanese official who attended the meeting quoted Biden as saying that the 12 countries engaged in TPP talks should strike a deal on this opportunity.

Biden Lining Up With Republicans, Wall Street And Corporate America Against Democrats, Labor And Progressives

TPP is still secret, and until the agreement is public the opposition is unable to organize — which is the point of the secrecy. But we know from leaks that TPP is likely to draw at least the same opposition as Fast Track did. This is a summary of which groups were on which side of Fast Track:

Some of the groups that lined up in favor of Fast Track and are almost certain to support TPP: (This is the side Joe Biden is standing on.)

● Republicans in the House and Senate.
● Wall Street.
● Giant multinational corporations.
● Billionaires and CEOs.
● The Chamber of Commerce, Business Roundtable and other corporate lobbying organizations representing giant corporations against the rest of us.
● Right-wing “free market” outfits like Cato Institute (formerly named the Koch Foundation).

There was a large coalition organized against Fast Track and likely to oppose TPP (and Biden):
● Most Democrats in the House and Senate.
● All of organized labor — every labor union in the US opposed Fast Track and are likely to oppose TPP – and Biden.
● Almost every identifiable progressive-aligned organization, including:
● Human rights groups, and anti-slavery/trafficking activists,
● Environmental groups,
● LGBT groups,
● Faith groups,
● Consumer groups,
● Food-safety groups, and many, many others aligned with causes progressives, labor and public-interest groups feel are important.

All of these groups will actively oppose Biden if he runs for President with TPP around his neck.

Can Biden Run As A Democrat After Pushing TPP?

There are some things that a candidate in the Democratic primaries just can’t do. A Democrat can’t be for cutting Social Security or Medicare when “the base” wants candidates who are in favor of expanding it. A Democrat can’t be in favor of cutting taxes for the billionaires and corporations.

A Democrat can’t be in favor of doing things that hurt the environment and increase the threat of climate change, such as building the Keystone Pipeline.

Those are some of the third rails for the kind of Democrats who are active, informed and vote in primaries. But in the next year – assuming TPP is even half as bad for 99 percent of us that leaks have indicated it is – TPP will be the third rail of all third rails. The one thing certain to kill the chances of being nominated as the Democratic presidential candidate is not being out there on the front lines fighting tooth and nail to stop TPP. Because of this, Joe Biden is not a Democrat who can run for president in 2016 and win the nomination.


This post originally appeared at Campaign for America’s Future (CAF) at their Blog for OurFuture. I am a Fellow with CAF. Sign up here for the CAF daily summary and/or for the Progress Breakfast.

Final (?) TPP Talks Underway Now In Atlanta

A new round of negotiations is underway in Atlanta this week between the United States and 11 Pacific Rim countries. They are trying to finalize the Trans-Pacific Partnership (TPP).

Some groups are asking people to come to Atlanta to protest. There are also calls for presidential candidate Hillary Clinton to make her views known on TPP.

A major reason for the push to get TPP completed now is the upcoming presidential election. The negotiators want Congress to vote before TPP becomes an issue in the campaign, which would mean the public will begin learning of the pact’s provisions and hearing arguments against them.

Negotiators are pushing TPP because it helps get government out of the way of big corporations. A provision in TPP called investor-state dispute settlement (ISDS) lets corporations bring cases against governments in corporate-arbitrated courts that are outside of national legal system, if those government pass laws or regulations that interfere with corporate profits. For example, tobacco corporations will be able to sue governments for engaging in efforts to help citizens stop – or prevent children from – smoking. (See “Tobacco ‘Smoking Gun’ Shows Real TPP Agenda” and “Tobacco “Carve-Out” Dispute Tells Us What We Need To Know About TPP.”)

TPP will also help defund governments by reducing revenue from tariffs. The U.S. Trade Representative (USTR) Michael Froman recently boasted in Politico that TPP will lower government revenues, saying, “TPP will deliver billions of dollars of tax cuts every year going forward” in the form of cuts in tariffs that U.S. manufacturers and farmers face in the TPP countries.

While the agreement – the largest “trade” agreement in history – supposedly is a broad agreement defining the rules of doing business in the 21st century, the negotiations are actually about horse-trading immediate concerns and deals and markets between different corporations. Following is a summary of a few of the remaining issues in the way of completing the agreement: currency manipulation, autos and auto parts, and Donald Trump.

Currency Manipulation

Some countries manipulate their currencies, which makes goods made there cost less in world markets. Meanwhile the U.S. currency is “strong,” which means American manufacturers lose business and are forced to shed workers. Many in Congress want TPP to contain clauses regulating this manipulation.

Last week 158 members of Congress sent a letter to the White House, which, according to the Detroit Free Press, urged “that strong, enforceable provisions against currency manipulation be made part of a Pacific Rim trade deal.”

From the Free Press report,

Legislators from industrial states, including Michigan, have argued that strong, enforceable currency standards must be part of any trade deal with Pacific Rim nations to ensure the U.S. is not put at a disadvantage to countries which may manipulate their currency to help their own industries.

“In just the last month, three of our trading partners — China, Korea, and Vietnam — have each taken steps that have caused their currencies to weaken, disadvantaging American businesses,” the letter said. “These steps have raised significant concerns and highlighted the importance of enacting strong, enforceable protections.”

“U.S. workers and businesses are the best in the world, and it is critical to our country’s economic future that they are able to compete in a fair global marketplace,” the letter continued. “For that reason, it is critical the TPP include strong, enforceable protections against currency manipulation.”

Autos And Auto Parts

Canada and Mexico are opposing a Japanese proposal to lower the requirement for how much of a car and auto parts have to be made in TPP countries to avoid tariffs. U.S. auto companies and parts manufactures, of course, side with Canada and Mexico, but Japan wants to be able to have cars and parts made in China, yet still avoid tariffs.

Unbelievably, our own country’s trade negotiators – desperately wanting this deal to conclude this week – appear to be siding with Japan and China against American, Canadian and Mexican manufacturers. For details, see: “Under Pressure To Finish TPP, Are They Giving Away More Jobs?” and “TPP Terms Are Even Worse For U.S. Than NAFTA?


Part of Donald Trump’s popularity comes from his opposition to the way that previous trade agreements like NAFTA have hurt American workers and industries. For example, Trump has stated that he will end that NAFTA trade agreement that cost so many jobs and moved so many factories out of the U.S. The Hill reports, in “Trump threatens to ‘break’ trade pact with Mexico, Canada“:

Donald Trump is calling the North American Free Trade Agreement (NAFTA) a “disaster” and vowing to renegotiate or break the deal if elected president.

“It’s a disaster,” Trump told CBS’s Scott Pelley in an interview airing Sunday on “60 Minutes.” “We will either renegotiate it or we will break it because you know every agreement has an end.

“Every agreement has to be fair. Every agreement has a defraud claim. We’re being defrauded by all these countries,” Trump continued.
Pressed on whether he supports free trade, Trump responded, “We need fair trade, not free trade. We need fair trade it’s got to be fair.”

Trump has blasted trade policies, accusing leaders of allowing China and Mexico to steal U.S. jobs and hurt American workers.


This post originally appeared at Campaign for America’s Future (CAF) at their Blog for OurFuture. I am a Fellow with CAF. Sign up here for the CAF daily summary and/or for the Progress Breakfast.

When The Real World Confronts Trade Theories, The Real World Wins

I had a conversation over the weekend about the Trans-Pacific Partnership (TPP). She’s for it, because “more trade is always good.”

TPP covers a whole lot more than what we would think of as “trade.” Regardless, let’s look here at the idea that expanding trade is always good.

Trade Is Good

Trade is good. We all at the very least trade our time for our pay. We might make or grow or draw or write something that we sell (trade) for money. Trade is basic.

But how we trade always makes a difference. If we trade our time and get paid too little, is that a good thing because it was a “trade”? Obviously the way trade gets done – the rules/policies that are in place – makes all the difference. So the question to consider is whether our current international trade policies as applied under our current economic order a good thing or a bad thing for We the People of the United States.

Cross-Border Trade

“Increasing cross-border trade” sounds like a worthy goal. But if you close a factory in the U.S., move the machines and jobs to a low-wage country, then bring the goods back here to sell in the same stores, you have just “increased cross-border trade.” How should we look at this?

The people now making the goods are paid much less, the investors who own the factory are pocketing much more. Sounds bad, unless you’re one of those owners.

Economists will tell you this is good because fewer of the resources of your economy are being expended to obtain whatever that factory was producing. Those resources can now be applied elsewhere by the investors, toward more productive investment. Sounds good.

Theoretically those American workers will now be freed up to do more productive work, potentially at a better pay rate. Sounds good.

But the way our current economic order works, those resources (the difference between what the American workers were paid and the lower costs of making the stuff somewhere else) are more often applied to the offshore tax-haven accounts of the elite investors than toward “more productive” investments. Sounds bad.

And the way our current system is working, without this new investment those workers remain unemployed, competing with the rest of the people in the workforce, which drives down everyone’s wages except for a few at the top. The reality is that if people laid off due to trade find new jobs, it is at a lower rate of pay. Sounds bad.

Economic theory confronts the reality of America’s current economic order and falls short. The elites use rigged “trade” deals to knock down labor costs. Instead of applying the gains toward investment in our economic future and higher wages for America’s workforce, they apply it to their bank accounts.

Comparative Advantage

The idea of comparative advantage says that countries (regions, etc.) should do what they are good at and trade with others for the things the others do better. Some countries are good at growing bananas and they can trade them for things they can’t grow or make.

But what counts as a comparative advantage?

A few years ago The New York Times took a look at the shift of manufacturing (and associated jobs) from the U.S. to China, in the report “How the U.S. Lost Out on iPhone Work.” The report is known for the Steve Jobs quote, talking to President Obama, saying, “Those jobs aren’t coming back.”

The reason Jobs said those jobs are not coming back was that in China the workers sleep in dormitories, 12 to a room, and can be rousted out of bed at any hour to complete “rush” jobs. They can be made to stand all day, work with dangerous chemicals, are paid very little, cannot organize unions, cannot even vote for a government that would make their lives better.

In other words, China offers a “comparative advantage.” That advantage is that they are not a democracy, workers have no rights and no voice. China is very “business-friendly.” So why would a company like Apple use American workers when they can use workers kept in these conditions?

Our democracy is a comparative disadvantage in world trade. Sounds bad.

Again economic theory confronts the reality of America’s current economic order and falls short. America had factories, China offered low-wage workers and the opportunity to freely pollute. Elites moved the factories to China. Elites use “trade” to attack democracy, turning government of, by and for We the People into a comparative disadvantage in world markets.

Click to see a video of Ian Fletcher talking at, of all places, the Heritage Foundation about his book, “Free Trade Doesn’t Work.” At 21:06 to 25:47 minutes he takes a very good look at the idea of comparative advantage in the real world. In sum:
1) Absence of externalities is not a competitive advantage. The pollution is still there, the workers are still exploited.
2) Capital mobility means you are allocating your capital outside of your own economy.
3) Comparative statistics look at a snapshot, a fixed point in time. If China doesn’t already have a factory making X it is not comparative advantage to go open one there. It is not the best move today if the other country is not already producing the thing for less.

Economies Of Scale

When trade is “opened up” across a border it doesn’t mean that new customers suddenly appear, anxious to buy goods and services produced by America’s small businesses. It’s not like there were no producers and suppliers on the other side of that trade border. The goods and services of an economy were likely already being supplied by someone.

Acme Widget, based in the American town of Plainville, is not suddenly going to get orders from small towns all across the new trading partner Tradonia. Tradonia already has suppliers of widgets. Those suppliers will just as easily come sell their widgets in Plainville.

Economists will say that “opening up” trade across a border increases competition, which benefits consumers. But this is not how it actually works. What has really opened up is a larger playing field with more opportunities for big companies on both sides of trade borders to dominate a larger market than the one they had been dominating, with a resulting decrease in aggregate employment.

In our current economic order big companies have advantages because of their size, and unfortunately rules are made based on which companies are ready to shell out the cash to influence how the rules for competition and domination of industries are made. Larger companies dominate and remove smaller competitors. One or two of these companies will get most of the business in both countries and become very large; the others will be gone. Due to economies of scale the overall widget manufacturing employment will decrease. The new monopolies and near-monopolies will then have the ability to charge what they want.

Once again economic theory confronts the reality of America’s current economic order and falls short. Opening up trade borders is more likely to bring further consolidation of giant companies, not more competition.

Reality Wins

These are just a few examples of the problems of academic trade and economic theory confronted with the realities of what actually happens in actual countries.

Another economic theory says that trade will balance as a result of currency adjustments. Supposedly when a country is running a surplus its currency rate will increase and things made in those countries will cost more, so purchases will shift back to the country that had a deficit. But in the real world, the United State competes with real countries that don’t play this way. Our country has an enormous, humongous trade deficit and has run continual trade deficits every single year since the late 1970s when “free markets” and “free trade” ideology came to dominate. This is because we follow an economic theory ideology, and other countries look at reality and adjust. So they win.

Reality trumps economic theories and ideologies – Every. Single. Time.


This post originally appeared at Campaign for America’s Future (CAF) at their Blog for OurFuture. I am a Fellow with CAF. Sign up here for the CAF daily summary and/or for the Progress Breakfast.

Tobacco “Carve-Out” Dispute Tells Us What We Need To Know About TPP

Administration officials are desperately trying to wrap-up Trans-Pacific Partnership (TPP) negotiations in the next few days or so. If they can get it done right now, it enables a timeline for pushing it through Congress by the end of the year — before the public can rally opposition, and before the Presidential campaign season could bring heightened attention to the deal.

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Right-Wing Shutdown of Ex-Im Bank Already Threatening to Kill Jobs

Conservatives deride using government to help American companies export their goods as “picking winners and losers,” even when the winners are American exporters and workers.

So Republicans have closed the Export-Import (Ex-Im) Bank, hopefully temporarily. The Ex-Im Bank provides financing guarantees to customers of American exporters if they cannot obtain financing elsewhere. This helps American companies make the sale.

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Did Obama Administration Downplay Malaysia Slavery To Grease Trade Deal?

“Pope Francis says when the economy controls politics both lose … When economics takes over we tolerate anything for the sake of the dollar.”
– Sister Simone Campbell

Cheap labor is the whole point of our corporate-rigged, NAFTA-style trade agreements. Companies get to move jobs, factories, even entire industries out of the U.S. to countries where people are exploited, the environment is not protected and “costs” like human safety are kept low.

But even so … tolerating slavery? Flat-out slavery? Really? Unfortunately, it looks like that’s what is happening with fast-track trade promotion authority, The Trans-Pacific Partnership (TPP) and the Obama administration.

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Export-Import Bank Shut Down, China Gets The Business Instead

Republicans have shut down the Export-Import (Ex-Im) Bank as of midnight, July 1. They are touting it as a blow against “corporate welfare” and “crony capitalism.” But who are the real winners here?

It’s certainly not us workers.

Last year the bank helped finance almost $30 billion worth of U.S. exports — things made here, by workers employed here. Germany, Japan, China and many other countries have similar agencies. Now they will be picking up that business. Our trade deficit will increase. Jobs, wages and factories will move elsewhere.

Export Assistance

The United States does not have an economic/industrial policy that supports American manufacturing. Meanwhile, other countries support their industries. As a result, the U.S. has an enormous, humongous trade deficit, trading American assets for foreign-made commodities. We lose jobs, factories, companies, and entire industries to countries that understand the long-term benefits to their economies of national investment in key, strategic industries. On the other hand, a few people here get enormously wealthy from selling off our net worth in the short term. So, there’s that.

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Enormous, Humongous May Trade Deficit Slows Economy

The U.S. Census Bureau reported Tuesday that the May goods and services trade deficit was an enormous, humongous $40.9 billion, up a bit from an enormous, humongous $40.7 billion in April.

Our enormous, humongous trade deficit is a measure of how many jobs, factories, companies and industries we are losing to our pro-Wall Street trade policies. A trade deficit drains our economy of wealth, jobs and future economic opportunity.

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Now We Build A Fair Trade Movement

Fast track trade authority passed last week. So many of us fought so hard but The Money won again – this time. What do we do now?

We take this awareness and energy into the fight against the Trans-Pacific Partnership (TPP). And then, win or lose, we build a fair trade movement that will eventually rewrite all of our trade agreements and policies so that they work for We the People instead of just a few people.

Strengths, Weaknesses, Opportunities, Threats

On the one hand, Wall Street and the big corporations again pushed through a rigged process called “fast track” that keeps us and our Congress from “meddling” with corporate-written agreements setting down the “rules for trade in the 21st century.” And those rules are, of course, going to be very good for the plutocrats who write them and very bad for the rest of us. Fast track seriously greases the skids to get TPP and other trade deals through so it will be a very tough fight.

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Wall Street And Big Corporations Got What They Wanted – This Time

Fast track passes. Our Congress – the supposed representatives of We the People – voted to cut themselves and us out of the process of deciding what “the rules” for doing business “in the 21st Century” will be.

How do the plutocrats and oligarchs and their giant multinational corporations get what they want when a pesky democracy is in their way? They push that pesky democracy out of their way.

Because of fast track, when the secret Trans-Pacific Partnership (TPP) and any other secretly negotiated “trade” agreements are completed Congress must vote in a hurry with only limited debate, cannot make any amendments no matter what is in the agreement, and they can’t be filibustered. Nothing else coming before our Congress gets that kind of skid-greasing, only corporate-written “trade” agreements – and it doesn’t matter how far the contents go beyond actual “trade.”

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Will TPP Kill The Post Office?

Corporations are notorious for sneaking things into laws and regulations before the public can find out and rally to stop it. And we know from the conservative Supreme Court arguments against the Affordable Care Act that even what amounts to a typo can be used to change the obvious meaning and intent of a law.

These are reasons we need to see the text of the Trans-Pacific Partnership before Congress votes to preapprove it with fast track trade promotion authority (TPA). They are pushing what is literally a pig in a poke on us. We the People need to open that bag and have a good, long look inside before fast track buys the TPP pig in our name.

Negotiated in secret by corporate representatives, it is probable that the Trans-Pacific Partnership (TPP) is loaded with things the big corporations have snuck in. We already know from leaks that TPP contains provisions allowing companies to sue our government in “corporate courts” if they feel a law or regulation is cutting into their profits. What else is in there?

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