Michael Forman, our Trade Representative, appeared before Congress last week to discuss his work. Two quotes from his testimony stand out for me.
As we know, Obama wants to fast track the TPP, i.e., Congress would only have the capability of voting it up or down. There would be no changes. Here's Forman's comment on that point: "[Fast Track] puts Congress in the driver's seat to define U.S. negotiating objectives and priorities for trade agreements." I wonder how he defines 'driver's seat'.
One of Forman's talking points was the growth in the trade surplus. Vide: "You take all of our FTA partners as a whole, [and] we have a trade surplus. And that trade surplus has grown." But if you rely on the U.S. International Trade Commission, you'd find a $180 billion U.S. goods trade deficit with all free trade agreement (FTA) partners (in 2013, the latest year on record). In manufactured goods, the United States has a $51 billion manufacturing trade deficit with all FTA partners.
I guess Forman does not have a high opinion of Congress.
1 comment:
"I guess Forman does not have a high opinion of Congress."
Who does, I wonder?
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