Tags: Barack Obama | obama | trade deal | opposition | democrats

Obama Trade Deal Faces New Opposition — From Democrats

Image: Obama Trade Deal Faces New Opposition — From Democrats
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Friday, 06 Nov 2015 10:10 AM

The controversial Asia-Pacific trade deal laid out by the White House on Thursday is chock-full of exclusions that may make it more difficult for American businesses to compete in foreign markets, Politico reports.

"The text that I've read so far includes annexes and exclusions up the wazoo," Rep. Bill Pascrell, a New Jersey Democrat and member on the House Ways and Means Committee, told the political news website.

"You think you've seen it all? You have not. Exclusions to rules by each country. Bilateral deals with Japan, and more than 50 two-way side letters."

Politico says examples include Peru being able to continue to limit performances by foreign circuses; Chile being able to still ban foreigners as security guards and Malaysia being able to use preferential treatment for ethnic Malays in government projects.

The Trans Pacific Partnership also allows giveaways to drug manufacturers and other multinational companies, critics say, as well as exposing American workers to unfair competition with low-wage labor in countries like Vietnam, The Associated Press reports.

The agreement involves the United States, Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam — all of which encompass nearly 40 percent of global economic output.

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The controversial Asia-Pacific trade deal laid out by the White House on Thursday is chock-full of exclusions that may make it more difficult for American businesses to compete in foreign markets, Politico reports.
obama, trade deal, opposition, democrats
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2015-10-06
Friday, 06 Nov 2015 10:10 AM
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