As I write, the Senate Finance Committee is about to go through a mark-up of the bipartisan trade promotion act, after opening hearings on the bill on April 21. Here are a few reactions to recent events and the posture and antics of various individuals involved in the process.
First, Chris Matthews snagged President Obama for a long interview on his program last night—surrounded by several business types who support the TPA bill and both the TPP and TTIP. Besides cowering Matthews into curbing his flapping jaw, the most important takeaway from the program was a bravura performance by the president. He touched almost all of the bases and arguments that are central to a defense of TPA and of trade agreements. (What a contrast to 2012 and his lame defense of Obamacare, forcing Bill Clinton to bail him out substantively). Business leaders at the Chamber and Business Roundtable would be well advised to package parts of the program in TV spots touting the benefits of trade (not least as Matthews has only a tiny audience). They should also go for the jugular by quoting his take down of Sen. Elizabeth Warren and other opponents in his own party: “I love Elizabeth…But she’s just wrong on this.” And more broadly, the president’s blunt assertion that: “When you hear folks make a lot of suggestions about how bad this trade deal is when you dig into the facts they are wrong.”
Second, Hillary Clinton yesterday issued a weasel-worded statement to the tune of: “Any trade deal has to produce jobs, raise wages, and increase prosperity and protect our security.” Unlike some of my colleagues, I rarely rail at the “mainstream press;” but in this case I’d posit that they do have an obligation to quiz her relentless— is Elizabeth Warren “wrong,” as the president states; do the opponents have the facts “wrong,” as he states; and finally, with the details of the TPA bill now public, does she support it, and by extension the TPP? In 1993, after a fierce debate among his White House staff, on NAFTA Bill Clinton came down on the side of “Compete, Not Retreat.” So what is it today Hillary: Compete or Retreat?
Third, painfully, notice has to be taken of Sen. Rob Portman’s craven push for “enforceable” currency rules to be mandated in the TPA, and negotiated in the TPP. I know he will have a tough battle to retain his Senate seat next year—but does he really think he can win by “out-protectioning” his likely anti-trade opponent Ted Strickland? As he knows—and as again the president pointed out—the addition this demand at the very end of the TPP negotiations would incense our trading partners and end hope for a successful conclusion of the agreement. What a come down for a fine former US Trade Representative.
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