What Clinton has said to promote two Trade Deals besides NAFTA

Economic and political costs greatly outweigh benefits

by Jeff Faux, Economic Policy Institute — epi.org

The Clinton Administration and the Republican congressional leadership are urging Congress to ratify the trade and investment pact the administration recently negotiated with China. The agreement is one of a series China is negotiating with members of the World Trade Organization (WTO) in order to join that body. Approval by Congress would, among other things, grant China Permanent Normal Trade Relations (PNTR) —  thereby surrendering Congress’ existing right to an annual review and renewal of the United States’ trade relationship with China. [...]

Trade severed from worker and environmental standards. Granting PNTR to China will signal to the world that the United States has, in effect, abandoned the cause of putting worker rights and environmental standards on the agenda of international trade and financial institutions. Given the public rhetoric of the president, the vice president, and the U.S. trade representative in support of this cause, congressional ratification of the China trade pact will reduce America’s credibility on the issue to zero. [...]

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China trade deal cost 3.2 million American jobs. Here's what Hillary said about it at the time:

pntr w/ china led to the loss of 3.2 million american jobs. here’s what sec. clinton said about it at the time: pic.twitter.com/Tz9xGwiWpj

Here’s what those “on balance” interests of American workers amount to, after PNTR with China forced them to “get in compete in that {global} marketplace” for a few years …

Trade With China Has Cost the U.S. 2.7 Million Jobs

www.economicpopulist.org

That’s some serious competing and losing. All thanks to the PNTR (Permanent Normal Trade Relations) with China.

Welcome to the new “Normal”, aka the little discussed ‘Race to the Bottom’.