Representative Rosa DeLauro has been strongly against the TPP. She states the agreement can't go forward without terms regarding monetary policy. She states if the currency issues continue there will be more and more American jobs lost.
The USA's communities has to hold on to their local economies, energy initiatives and government that protects it. There are provisions in the first draft of the TPP that were to destroy the local economies of the USA. The provisions would allow Wall Street to bring in their merchandise to stores without any choice otherwise.
These agreements are going to require the best of local governments to approach the illegal impingement against American rights.
August 20, 2015
By Vicki Needham
Democratic Rep. Rosa DeLauro (Conn.) (click here) said Thursday that Vietnam's recent currency devaluation is another reason for using trade agreements to stop the practice.
DeLauro, who is campaigning against the 12-nation Trans-Pacific Partnership (TPP) — of which Vietnam is a part — said that without action by the Obama administration, dropping currency values will continue to hurt American workers.
"We will see time and again what we have seen over the past nine days: that when one country devalues its currency, it causes a domino effect throughout the region and American workers suffer the consequences," DeLauro said.
She said that the deliberate lowering of currency values is "cheating" that "will only exacerbate our trade deficit and cost us jobs."
This week, the State Bank of Vietnam lowered the value of its currency, the dong, by about 1 percent against the dollar — the third adjustment this year — following the depreciation of China's yuan last week.
She said it's another reminder of the "lengths that Vietnam, and other Asian countries including partners to the Trans-Pacific Partnership (TPP), will go to ensure that their goods are subsidized at the expense of American jobs.
"This administration must not allow Vietnam and other nations to continue to game the system and destroy our manufacturing industry," DeLauro said....
Currency stability is becoming an overlay to the defeat of the trade agreement.
August 22, 2015
...Groser's diplomacy has been more nuanced. (click here) This is not surprising given he is heading off to Kuala Lumpur this weekend for an Asean meeting where a Southeast Asian group-led meeting will endeavour to make more progress on the rival Regional Comprehensive Economic Partnership (RCEP) in which China is also a participant.
At the Amcham dinner Key said he would be concerned if the deal was not done by Christmas. He said it was really down to three or four leaders who could make it happen; the most influential by a significant margin is President Barack Obama.
It's Key's contention that Obama sees the deal as forming part of his presidential legacy along with the Iran deal and Obamacare, and was prepared to devote political capital to get it across the line....
The USA's communities has to hold on to their local economies, energy initiatives and government that protects it. There are provisions in the first draft of the TPP that were to destroy the local economies of the USA. The provisions would allow Wall Street to bring in their merchandise to stores without any choice otherwise.
These agreements are going to require the best of local governments to approach the illegal impingement against American rights.
August 20, 2015
By Vicki Needham
Democratic Rep. Rosa DeLauro (Conn.) (click here) said Thursday that Vietnam's recent currency devaluation is another reason for using trade agreements to stop the practice.
DeLauro, who is campaigning against the 12-nation Trans-Pacific Partnership (TPP) — of which Vietnam is a part — said that without action by the Obama administration, dropping currency values will continue to hurt American workers.
"We will see time and again what we have seen over the past nine days: that when one country devalues its currency, it causes a domino effect throughout the region and American workers suffer the consequences," DeLauro said.
She said that the deliberate lowering of currency values is "cheating" that "will only exacerbate our trade deficit and cost us jobs."
This week, the State Bank of Vietnam lowered the value of its currency, the dong, by about 1 percent against the dollar — the third adjustment this year — following the depreciation of China's yuan last week.
She said it's another reminder of the "lengths that Vietnam, and other Asian countries including partners to the Trans-Pacific Partnership (TPP), will go to ensure that their goods are subsidized at the expense of American jobs.
"This administration must not allow Vietnam and other nations to continue to game the system and destroy our manufacturing industry," DeLauro said....
Currency stability is becoming an overlay to the defeat of the trade agreement. August 22, 2015
...Groser's diplomacy has been more nuanced. (click here) This is not surprising given he is heading off to Kuala Lumpur this weekend for an Asean meeting where a Southeast Asian group-led meeting will endeavour to make more progress on the rival Regional Comprehensive Economic Partnership (RCEP) in which China is also a participant.
At the Amcham dinner Key said he would be concerned if the deal was not done by Christmas. He said it was really down to three or four leaders who could make it happen; the most influential by a significant margin is President Barack Obama.
It's Key's contention that Obama sees the deal as forming part of his presidential legacy along with the Iran deal and Obamacare, and was prepared to devote political capital to get it across the line....
