politics

Lawmakers press Obama to include currency rules in TPP trade deal

16 Comments

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16 Comments
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Political posturing. Won't happen.

2 ( +2 / -0 )

Stay away from TPP. Trap set by obama and his cronies will only benefit wall street and the advocates of globalism. Japanese people dont deserve this.

0 ( +5 / -5 )

These people really are nutters. It's like Jesse James expressing concern at the rash of train robberies. The US are the world's number one currency manipulators, and these 200 political hacks who signed this are pandering to their more ignorant voters. Most ironic of all, any such rules would affect the US more than anyone - though, if history is any guide, the US will just ignore the rules for themselves while they demand compliance in others.

3 ( +7 / -4 )

Actually, adding currency manipulation prohibitions to the TPP could be a good way to hasten its demise. Few potential signatories want to see such prohibitions spelled out in a new treaty, and the US pushing that is like the pot calling the kettle black.

1 ( +2 / -1 )

With TPP, corporations will have more rights than the host country.

2 ( +5 / -3 )

I agree, the goverments should ALL cease with their currency manipulations, USA, ECB, and JCB.

4 ( +4 / -0 )

US is the biggest currency manipulator, when Ben Bernake talks on TV, the US dollar moves. As Yen has depreciated earlier, the US dollar has also depreciated, don't tell me this is market forces at work. US dollar has been on decline due to policies, so whats the difference between say New Zealand intervening on Kiwi dollar?

3 ( +5 / -2 )

@tiger, no difference except in global scale. It's the "do as we say, not as we do" meme.

0 ( +1 / -1 )

The TPP is just another version of the NAFTA agreement signed under Reagan and pushed further by Bush Senior and Junior (Baby Doc and Papa Doc), which gave the green light for US fortune 500 to flee overseas and to Mexico for lower wages. The unashamed and spineless "leadership" of the UAW cries about the possibility of losing 34,000 auto jobs to "foreign" competition; after its membership fell from 1,500,000 to 364,000. When it refused to prevent the closing of the Flint Michigan plant, the home of the UAW, it clearly showed that the once proud UAW had been brought and sold to the companies that it labor for. GM one touted the slogan,"buy American; save American jobs," has been putting billions into its operations in South Africa. There were strikes in South Africa by auto workers of Ford, GM and Chrysler, but there was not a peep out of these unions is support of their brothers and Sisters. What ever happened to solidarity for ever, for the Union keeps us strong? If the UAW in the US losses jobs, the UAW leadership should not blame Japanese workers for the loss of jobs; they should blame the CEO's of the the US auto giants. Leveling of the playing field has always meant lower wages and concessions to a union free America. Back to the union free future.

0 ( +3 / -3 )

NAFTA negotiations started under George H.W. Bush and were concluded by Bill Clinton and came into force in 1994.

3 ( +3 / -0 )

However, Japan’s recent entry into the negotiations has raised concerns, especially among Detroit-based automakers that accuse Japan of deliberately pushing down the value of its yen to give Japanese auto exporters an unfair advantage. .............. Most Japanese brand autos sold in the United States are made in North America, rather than imported from Japan, according to Global Automakers,................................

The components of Japanese automakers in USA are made in USA by Japanese components MFG companies in USA.

The parts of Japanese components makers in USA are made in USA by Japanese parts MFG companies in USA

Japanese automakers employees refuse to join Union (UAW) that promise wages, etc far less than Japanese automakers pay for them in their automated factories. Some automakers export from USA to Japan, for example, Toyota in Kentucky.

0 ( +1 / -1 )

The US are the world's number one currency manipulators

That title still belongs to China, last I checked.

US is the biggest currency manipulator, when Ben Bernake talks on TV, the US dollar moves

That is not currency manipulation. That is natural market forces at work. I mean, are corporations manipulating stock prices when they announce earnings?

That said, this is just a few politicians making their constituents think they're trying, and nothing will likely come out of this.

0 ( +0 / -0 )

I have a USA assembled Japanese car here right now I am working on. ZERO American content. Radiator imported in 3 pieces from Japan, plastic top and bottom clamped to the Aluminum core and then rubber stamped "Assembled in USA!".

Well, that's one thing American and Japanese cars have in common, then: No U.S. made components.

0 ( +0 / -0 )

Made-in-USA Japanese cars do not sell well in Japan, just like Ford and GM cars. There are several reasons beside Japanese auto makers build in USA. I write 2 major reasons/ BTW. US Government help, Ford and GM have several Aauto factories in China.

In USA. people use left handle to drive. In Japan, right side handle. ' Width of roads differ, When you see cars in cartoons, you can figure if they are made-in Japan cartoons or made-in-USA cartoons if they have cars in scenes,

Japanese people are shorter than American people. Cadillac, etc are sold to people who hire a tall chauffeur.
0 ( +0 / -0 )

Right

help to create a level playing field for American workers, businesses, and farmers

By "farmers", they mean corporate agribusiness.

The TPP may have some potential with respect to manufactured goods, but with respect to agriculture it is a total wash.

The USA is a floundering empire.

-1 ( +1 / -2 )

Who made the USA boss of TPP anyway ? considering they weren't the ones to start it.

-1 ( +0 / -1 )

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