International Trade Daily™ provides rapid, reliable notification of the most significant developments affecting U.S. trade and international business policy, as well as the policies of major U.S....
By Len Bracken
July 27 — Democratic presidential nominee Hillary Clinton does not support approval of the trans-Pacific trade pact and would not, if elected, renegotiate the agreement, a top campaign official said.
“She is not interested in renegotiating the TPP,” John Podesta, Clinton’s campaign chairman, said at a Democratic National Convention press briefing in Philadelphia, stressing the candidate's opposition to the 12-nation Trans-Pacific Partnership (TPP) that has been signed but not yet ratified.
Virginia Gov. Terry McAuliffe (D), a long-time Clinton friend, created a fire storm in an July 26 interview with Politico in saying that Clinton might soften her position on the agreement after the November election. Podesta immediately rebutted the comments on Twitter, saying the governor was, “flat wrong.”
“She is against it before the election and after the election,” Podesta said in the tweet.
McAuliffe aides later walked back his comments, and the governor told union leaders in Philadelphia July 27 that Clinton is against the TPP and is “always gonna stay against TPP,” according to a video clip obtained and posted by NBC.
Richard Trumka, president of the AFL-CIO, in a July 26 statement said the Virginia governor was “absolutely wrong.”
“All of organized labor and all American workers have set a standard, she has embraced it, and she'll stick to it,” Trumka said. The 2016 Democratic Party Platform outlines standards for trade agreements, and a Clinton aide has said the candidate does not believe the TPP lives up to those standards (142 ITD, 7/25/16).
The issue is highly sensitive because when Clinton served as secretary of state and the deal was being negotiated, she backed the pact. But she began voicing her concerns as a candidate soon after the agreement was reached in October 2015. Democratic opponents of the TPP have told Bloomberg BNA they fear she might again reverse her position as her husband did when he campaigned against the North American Free Trade Agreement (NAFTA) in 1992, only to push its ratification through Congress in 1993.
Podesta's July 27 remarks echoed those he made at a Wall Street Journal lunch the previous day in which he rejected renegotiating the deal and called for a new approach to trade that combines investing in working people along with trade deals. In those remarks he said Clinton's running mate, Sen. Tim Kaine (D-Va.), also opposes the TPP. Kaine was one of only 13 Democratic senators to vote for trade promotion authority in 2015.
Sen. Sherrod Brown (D-Ohio) July 27 told reporters in Philadelphia that Kaine went through a month-long vetting process and that both he and Clinton would oppose ratification of the TPP during the lame-duck session.
Gene Sperling, a Clinton economic adviser, said July 27 that she is “against TPP in the lame duck,” adding that her focus as president would be on job creation initiatives, such as infrastructure spending and manufacturing.
“I think [TPP] is in the rearview mirror,” he said in a panel discussion hosted by The Atlantic magazine. “I think there is no evidence that any version of TPP is going to be strong for [manufacturing],” he said.
The issue of Chinese excess capacity in steel is harming U.S. job creation and would be a trade priority for Clinton if she is elected, he said.
“You’re going to see some toughness on China,” he said. “It’s going to happen quick because there is going to be the issue of nonmarket economy status and she is going to oppose any sense that that is automatic or that they deserve that.”
China's 2001 accession protocol to the World Trade Organization calls on other member nations to evaluate the status of the Chinese economy after 15 years to see whether it has become a market economy. If so, the members would adjust their trade remedy laws accordingly.
To contact the reporter on this story: Len Bracken in Washington at email@example.com
To contact the editor responsible for this story: Jerome Ashton at firstname.lastname@example.org
Copyright © 2016 The Bureau of National Affairs, Inc. All Rights Reserved.
All Bloomberg BNA treatises are available on standing order, which ensures you will always receive the most current edition of the book or supplement of the title you have ordered from Bloomberg BNA’s book division. As soon as a new supplement or edition is published (usually annually) for a title you’ve previously purchased and requested to be placed on standing order, we’ll ship it to you to review for 30 days without any obligation. During this period, you can either (a) honor the invoice and receive a 5% discount (in addition to any other discounts you may qualify for) off the then-current price of the update, plus shipping and handling or (b) return the book(s), in which case, your invoice will be cancelled upon receipt of the book(s). Call us for a prepaid UPS label for your return. It’s as simple and easy as that. Most importantly, standing orders mean you will never have to worry about the timeliness of the information you’re relying on. And, you may discontinue standing orders at any time by contacting us at 1.800.960.1220 or by sending an email to email@example.com.
Put me on standing order at a 5% discount off list price of all future updates, in addition to any other discounts I may quality for. (Returnable within 30 days.)
Notify me when updates are available (No standing order will be created).
This Bloomberg BNA report is available on standing order, which ensures you will all receive the latest edition. This report is updated annually and we will send you the latest edition once it has been published. By signing up for standing order you will never have to worry about the timeliness of the information you need. And, you may discontinue standing orders at any time by contacting us at 1.800.372.1033, option 5, or by sending us an email to firstname.lastname@example.org.
Put me on standing order
Notify me when new releases are available (no standing order will be created)