E-mail updates
Follow on Twitter
Subscribe to RSSFrom NBC's Kelly O'Donnell
Republican senators have just announced that they will block the confirmation of a new Commerce Secretary - or any commerce related positions - until Democrats move on free trade agreements for Columbia and Panama.
Forty-four GOP senators signed on to a letter to Majority Leader Harry Reid Monday, vowing to hold up the nominations until "the President submits both agreements to Congress for approval and commits to signing implementing legislation into law."
"The time for delay is over," they write. "Colombia and Panama are strong democratic allies in Latin America and both have undertaken serious and meaningful reforms, many of which directly address the concerns of those who want to further delay these agreements. Yet the administration continues to move the goalpost by withholding clear direction and not providing a specific timetable for implementation."
The previous Commerce Secretary, Gary Locke, was just appointed by Obama to be the next ambassador to China, replacing possible GOP presidential hopeful Jon Huntsman.
Leave a Comment:
GOP to block: fill in the blank______________________— seems to be all they do....
I must comment, because I work to help U.S. companies export their products and services to countries around the world, therefore, I have some pretty good insights into what goes on in international trade. Currently, the tariff rates for U.S. products going into Colombia or Panama or S. Korea, or several other countries around the world is quite a bit higher than those same products coming to the U.S. from those same markest. For example, upholstered furniture coming from the U.S. and entering into the Colombian market are charged a tariff rate of 18%, while that same product entering the U.S. market from Colombia is charged a tariff rate of 3%. With Free Trade Agreements, we can lower the tariff rates, eventually, to 0% entering either market from either country; a level playing field. Then U.S. made upholstered furniture can compete on its merits such as quality, design, etc. Also, Free Trade Agreements are negotiated to deal with issues such as Intellectual Property Rights (IPR), as many U.S. patents and trademarks and copyrights are infringed upon in many markets outside the U.S., not good for U.S. business. With an FTA, an agreed upon remediation for these infringements becomes possible.
I am a democrat, and do not agree with the Republican Congress holding up nominations in exchange for forcing these agreements through, although I do believe that the FTAs are overall good for U.S. business. We should, however, be measured and thoughtful when entering into any FTA to make sure that they are drafted to benefit U.S. businesses, and by extension, U.S. citizens.
U.S. jobs being sent overseas is more a result of lower operating costs in those foreign markets, as well as easier access to those foreign buyers, just-in-time inventory management, and after-sales service for your customers. There are good reasons to set up operations in those foreign markets, but corporations must consider the long-term consequences of their actions, as well. Shipping jobs wholesale to cheaper labor markets also has the perverse effect of diminshing your buying market in your home country because fewer employed people making less money does not translate into good selling opportunities for your company. Foreign countries want to sell to the U.S. because we are a large affluent market, but that can and may change if things keep heading in the direction they are currently headed, i.e. fewer middle-class buyers, mostly poor people, and a handful very wealthy folks.
Exactly because when we export all our companies hence our jobs, we are no longer a large affluent market.It is probably just like a housing bubble. The people make the money if they are in the market but they lose it if the bubble bursts. Who knows the earthquake/tsunami in Japan may cause the bubble to start the burst. If people are smart, instead of rebuilding companies in Japan or waiting til they rebuild, they rebuild right here. Anyone that keeps sending our companies overseas are shortsighted and unpatriotic. What happens if a quake hits China. Same thing?
You people STILL don't understand what is going on, do you?
That the reason the federal government is allowed to spend money we do not have is because we can sell the debt to foreign investors (These are countries like China, Iran Iraq and Columbia and Panama included).
As soon as we do that, they are the ultimate foreign interests,and they will get what they want.
I am in independent who voted for Obama because he said he would close the overseas loophole for deferred income, which is responsible for at least 50% of the reason you would be crazy not to outsource. I would.
He has not done it. Why? Because he realizes what I said above. As soon he does it the countries with the multinational corporations in them will shut down funding our debt, and that will be the end government programs. The dems want to spend money we do not have and the GOP wants to promote business.
Blame Richard Nixon for taking us off of the gold standard and allowing foreign interests to by the debt, since then both Parties have been having their cake and eating it too. Now it is too late and neither side will give it up.
The US is not only addicted to oil, but foreign investment. Everything else like unemployment, taxes and outsources and badgering each others party for not yielding are just side show issues which are derived from this real problem. Unfortunately all of you seem to concentrate on the secondary problems and not the big picture problem, or realize what it is.
We should not expect moral behavior from Multi-National Corporations, they are amoral and owe no alligence to any flag. It matters not their country of origin. Some of these Corporations are bigger and more powerful in terms of GDP than the countries they purport to originate from. Many of the so-called US Multi-Nationals have such wide reaching business interest that their political postion on any issue is highly compromised at best, and is far more likely to work against the interest of the American people than for them. There really is no such thing as "Free Trade" in a world where collusion, price fixing, and exclusionary tactics are as simple as turning on your computer in the morning. These companies are a power onto themselves, they comprise a special club of the ultra powerful and the ultra-rich, they are a new and awesome force in international affairs that has been flying under the radar screen for decades as they accumulate power and influence world wide.
These companies have no effective limits on their power. I will say that again, these companies have NO EFFECTIVE LIMITS on their power. As such they have no alligence except to themselves and the other members of this very exclusive club. They have the military and industrial might of the US, Britain, NATO, and others protecting their business interests Globally (and we pay for it because many of these companies do not pay US Taxes, in fact some of them GET SUBSIDIES).
These companies have managed to buy power and influence not only in the US Senate and House but world wide. They are serious threat to the American Way of life because they have no regard for the principles we stand for, in fact those principles, to them, are laughable ( Dick Cheney, former CEO of Halliburton, gave us just a small taste of their underlying attitude towards American values).
Until America wakes up to this important threat to its way of life we will continue to slide downhill, and these International Pirates will continue to pillage the planet with our blessing and protection.
If their was a speck of honesty, integrity or industry in our government, rectifying the trade imbalance would be the first objective on the venue. This is the cause of our economic problems. The imbalance has only gotten worse since the Free Trade agreements have been initiated. The agreements are directly pitting US wages against slave wage earners. The outcome of such competition can only result in a race to the bottom for the working class Americans.
Down with the Free Trade agreements.
I didn't realize that in the last election, when the GOP promised to focus on jobs like a laser beam that they meant to get rid of some more instead of creating them.
Anything to destroy our economy and Obama. I think their hatred has caused their behaviors. And a lotof their followers do not realize they are not part of the wealthy that will benefit. After hearing what happened after the civil war, this is not surprising. People are really motivated by pure hatred. I guess they left that part out at school when we studied American History.
These free trade agreements like the ones that have come before are CLEARLY huge mistakes that have cost millions of American jobs and solidified our status as a country with a "service" based economy which basically means that we don't actually produce a damn thing. Interesting how these things always seem to have massive bi-partisan support. Supporters claim that they increase our ability to compete in a global economy. The problem is that in order to compete with some of these countries we would need to drop manufacturing wages to pennies a day and eliminate all worker's rights restrictions placed on companies. No amount of innovation is going to beat 10 year old workers being paid 50 cents a day. This is not good trade policy. I want too see one serious politician (with real electability) who advocates the repeal of these trade agreements and supports new tariffs placed on imports. This is the elephant in the room that economists don't want to talk about because of their precious global economy.
I am no fan of the Republican party but this garbage has been heaped on us for far too long by both parties. It seems to be the only thing they can agree on and it is slowly destroying us. I would take back every bad thing I've ever said about the Tea Party if, as a movement, they declared fierce opposition to these kinds of trade agreements. That's not going to happen though because, in reality, they have their corporate masters too.
Sorry for the rant.
Lets stop focusing on the parties and demand them all to end world trade agreements until it is fair for us the people that they are suspose to represent. Better yet if we are so conserned about our jobs. Lets buy American made products. We still make most of all the products in the United States. We can only blame ourselves for going cheap and selling out our jobs. If we demand American made products we will get them. You guys did have economics in school right. We can not blame companies for wanting to make more money. It is the American dream. We can show them we will only give them profit if they keep products home made. Stop playing the blame game. Start playing the do something about it game. Buy American made, ask stores what they carry that is American made. I have a list of products that is made in America and mostly less expensive than the over seas products. I am tired of it as well as most of you. Lets make a difference.
Aren't we all glad we have this Congress? I say vote them out quickly. I don't know about anyone else but I find them disgusting. And to think I used to vote republican. I listened to Fox News too and that might explain it. And now I hear where the regressive, repressives are cutting or have cut the West Pacific tsunami warning center. Nice job guys! Why don't you move your offices all out there. And instead of thinking how lucky we are that the earthquake didn't hit us they are going pell mell to destroy our economy by laws, rules and footdragging. I say disgusting! They deserve getting kicked out on their ear or whatever in Nov 2012. Go Democrats! I hope you win everything in a landslide. Not caused by an earthquake of course.