- August 11, 2016 -

CLINTON HAS SUPPORTED JOB-KILLING TRADE DEALS LIKE NAFTA AND TPP

CLINTON SUPPORTED AND HELPED DRAFT THE JOB-KILLING TPP

Clinton Took A Lead Role In Drafting TPP And Said It “Sets The Gold Standard In Trade Agreements”:

As Secretary Of State, Clinton Took “A Leading Part In Drafting The Trans-Pacific Partnership.” “She's pressed the case for U.S. business in Cambodia, Singapore, Vietnam, Indonesia, and other countries in China's shadow. She's also taken a leading part in drafting the Trans-Pacific Partnership, a free trade pact that would give U.S. companies a leg up on their Chinese competitors.” (Elizabeth Dwoskin and Indira Laksmanan, "How Hillary Clinton Created A U.S. Business-Promotion Machine," Bloomberg,1/10/13)

Clinton Had Said The Trans-Pacific Partnership “Sets The Gold Standard In Trade Agreements.” CLINTON: “[We] need to keep upping our game both bilaterally and with partners across the region through agreements like the Trans-Pacific Partnership or TPP. Australia is a critical partner. This TPP sets the gold standard in trade agreements to open free, transparent, fair trade, the kind of environment that has the rule of law and a level playing field. And when negotiated, this agreement will cover 40 percent of the world's total trade and build in strong protections for workers and the environment.” (Hillary Clinton,Remarks at Techport Australia , 11/15/12)

Last Week Virginia Gov. Terry McAuliffe Said Clinton Would Support TPP As President:

In An Interview On Tuesday, Gov. Terry McAuliffe, “Longtime Best Friend To The Clintons,” Said He “Believes Hillary Clinton Will Support The TPP Trade Deal If Elected President.” “Virginia Gov. Terry McAuliffe, longtime best friend to the Clintons, said Tuesday that he believes Hillary Clinton will support the TPP trade deal if elected president, with some tweaks.” (Annie Karni, “Clinton Friend McAuliffe Says Clinton Will Flip On TPP, Then Walks It Back,” Politico, 7/26/16)

McAuliffe: “Once The Election’s Over, And We Sit Down On Trade” I Expect Clinton Will Support TPP. “‘I worry that if we don’t do TPP, at some point China’s going to break the rules -- but Hillary understands this,” he said in an interview after his speech on the main stage at the Democratic National Convention. ‘Once the election’s over, and we sit down on trade, people understand a couple things we want to fix on it but going forward we got to build a global economy.’ Pressed on whether Clinton would turn around and support the trade deal she opposed during the heat of the primary fight against Bernie Sanders, McAuliffe said: ‘Yes. Listen, she was in support of it. There were specific things in it she wants fixed.’” (Annie Karni, “Clinton Friend McAuliffe Says Clinton Will Flip On TPP, Then Walks It Back,” Politico, 7/26/16)

The Following Day, McAuliffe Doubled Down On His Comments That Hillary Clinton Plans To Support TPP Once Elected President. STEPHANIE RUHLE: “Hillary Clinton's decision to join Sanders in opposing the deal has been a key to winning over a lot of his supporters. But on Tuesday one of her oldest friends, Virginia governor Terry McAuliffe said she may flip her position and actually support the deal when and if she wins the White House. NBC’s Andrea Mitchell, spoke exclusively with Governor McAuliffe less than one hour ago. She joins me now on the phone. Andrea what did you learn?” ANDREA MITCHELL: “Well, he is not backing down. He is saying, though, that Hillary Clinton would make changes to it before going along with it. but since that is the priority of the president, they're going to proceed and try to get TPP on a lame duck session. Right now I am in the Virginia delegation where the vice presidential running mate is about to be coming out. So let me play you a little bit of McAuliffe sound. And if I am distracted, you'll know it's because we are at a live event right here with Tim Kaine. This is what Terry McAuliffe had to say.” GOV. TERRY MCAULIFFE (CLIP): “Let me be very clear she will only go forward if the changes she wants are implemented, that everyone is in agreement, the labor folks are in agreement. She’s not going forward as it is today. So unless the changes are made she’s not for it. President Obama does want this, as you know.” RUHLE: “So for you, it doesn't seem like there's a lot of wiggle room. Terry almost sounds like he's doubling down.” MITCHELL: “It is definitely doubling down and indicating that is the policy.” (MSNBC, 7/27/16)

The Economic Policy Institute Estimates The U.S. Lost More Than 2 Million Jobs To TPP Nations In 2015 Alone:

The Economic Policy Institute Estimates That The U.S. Trade Deficit With The 11 TPP Nations Led To The Elimination Of More Than 2 Million U.S. Jobs In 2015. “The U.S. trade deficit with the 11 other TPP countries eliminated 2 million jobs, as shown in Table 2, which reports the number of direct, indirect, and respending jobs lost (aggregated over all industries). The trade deficit between the United States and the 11 other TPP member countries in 2015 directly eliminated 418,900 jobs. In addition to the direct jobs lost, the U.S. trade deficit with the TPP country group eliminated an additional 847,200 indirect jobs in supplier industries, including jobs in manufacturing, commodity, and service industries. Finally, wages lost because of direct and indirect job cuts from the trade deficits with the TPP member countries would have supported an additional 759,700 respending jobs. The direct, indirect, and respending jobs displaced by the U.S. trade deficit with TPP member countries totals 2,025,800 jobs lost.” (Robert E. Scott and Elizabeth Glass, “Trans-Pacific Partnership, Currency Manipulation, Trade, And Jobs,”Economic Policy Institute, 3/3/16)

The U.S. Already Has “A Large And Growing Trade Deficit” With The 11 Members Of The Proposed Trans-Pacific Partnership (TPP) Trade Deal. “The United States already has a large and growing trade deficit with the 11 other countries in the proposed TPP, which reached $265.1 billion in 2014. In contrast, the United States had a small trade surplus with Mexico in 1993, before NAFTA took effect. In other words, outsourcing to the TPP countries is a potentially much greater threat than it was under NAFTA with Mexico.” (Robert E. Scott, “Fast Track To Lost Jobs And Lower Wages,” Economic Policy Institute’s Working Economics Blog, 4/13/15)

CLINTON IS A LONG-TIME SUPPORTER OF NAFTA, EVEN TOUTING ITS BENEFITS AS SECRETARY OF STATE

As First Lady, Clinton Strongly Promoted NAFTA, And Viewed It As An Example Of The Economy That Is “Reaping The Benefits, Not The Burdens Of Globalization”:

In Her Book “Living History,” Clinton Praised NAFTA, Calling It An Example Of The Economy “Reaping The Benefits, Not The Burdens Of Globalization.” “Creating a free trade zone in North America- the largest free trade zone in the world- would expand U.S. exports, create jobs and ensure that our economy was reaping the benefits, not the burdens of globalization.” (Hillary Rodham Clinton, Living History, 2003, p. 182)

In 1998, Clinton Praised The Passage Of NAFTA, Pledging To Continue Free Trade Advocacy: “It Is Certainly Clear That We Have Not By Any Means Finished The Job That Has Begun.” “At the 1998 World Economic Forum in Davos, Switzerland, she praised corporations for mounting ‘a very effective business effort in the U.S. on behalf of NAFTA.’ She added: ‘It is certainly clear that we have not by any means finished the job that has begun.’” (Kristin Jensen and Mark Drajem, “Clinton Breaks With Husband’s Legacy On Nafta Pact, China Trade,” Bloomberg, 3/30/07)

Clinton Said The Business Community Was Very Effective On Behalf Of NAFTA. SCHWAB: “In the same context, the fast-track trade legislation is very much at the top of the priorities of your husbands administration. What can you say also to the business community here to give the active and effective support for this legislative measure?” CLINTON: “Well, I would probably just echo what I already said, at the risk of being repetitive. There was a very effective business effort in the United States on behalf of NAFTA.” (Hillary Clinton, Interview With Klaus Schwab At The Annual Meeting Of The World Economic Forum, Davos, Switzerland, 2/2/98)

During A 1996 Campaign Stop In Texas, Hillary Clinton Touted NAFTA “Saying It Would Reap Widespread Benefits In The Region.” “Meanwhile, first lady Hillary Rodham Clinton stumped in the heavily Democratic lower Rio Grande valley. In Brownsville, she touted the president’s support for the North American Free Trade Agreement, saying it would reap widespread benefits in the region.” (“Clinton Campaigns In Texas,” United Press International, 11/1/96)

At A Union Event In 1996, Then First-Lady Clinton Told Workers That “I Think That NAFTA Is Proving Its Worth.” CLINTON: “Oh I think that, everybody is in favor of free and fair trade, and I think that NAFTA is proving its worth.” (First Lady Hillary Clinton, Remarks At An Event For The Union Of Needle Trades, Industrial, And Textile Employees (UNITE), New York, NY, 3/6/96)

As Secretary Of State, Clinton Touted The Benefits Of NAFTA:

Clinton Said “The North American Market, Of Which Mexico Is Such A Central Part Under NAFTA, Is Going To Remain Strong,” Adding “We’re Going To Continue To Import And Export To And From Mexico.” CLINTON: “But I want to start from the point that here we are in the midst of a global economic crisis, and we need all the growth we can get because that will eventually help every country be able to overcome this recession, since we are so interdependent. I think it’s also important to say that I think that the North American market, of which Mexico is such a central part under NAFTA, is going to remain strong. The fact that goods can be manufactured and assembled in Mexico, cutting down on transportation costs, cutting down on the carbon footprint, which will become an even more important consideration in the years ahead, means that we’re going to continue to import and export to and from Mexico.” (Secretary Hillary Clinton, Remarks At The First Diplomacy Briefing Series Meeting, Washington, DC, 12/11/09)

Clinton Added That She Was “Committed” To “Working With Our Mexican Partners, To Increase The Capacity Of The Mexican Economy So That They Can Export Even A Greater Range Of Goods.” CLINTON: “I think we also can do more, working with our Mexican partners, to increase the capacity of the Mexican economy so that they can export even a greater range of goods, because the best answer for Mexico and the best rebuke of the drug traffickers is to increase the economic prosperity of the people of Mexico. And I am committed to doing that and I think that other countries like China can grow. But Mexico will remain a critical partner to us in trade and economic well-being for many, many years to come.” (Secretary Hillary Clinton, Remarks At The First Diplomacy Briefing Series Meeting, Washington, DC, 12/11/09)

In March 2010, Clinton Said “We’ve Worked To Promote Growth And Create Jobs Through… Multilateral Pacts Like NAFTA And CAFTA-DR.” CLINTON: “In our region, prosperity has widened in recent decades. We’ve worked to promote growth and create jobs through sound fiscal policy, bilateral trade agreements, multilateral pacts like NAFTA and CAFTA-DR, and institutions like the Inter-American Development Bank.” (Secretary Hillary Clinton, Remarks At Pathways to Prosperity Ministerial, San Jose, Costa Rica, 3/4/10)

NAFTA Has Led To The Loss Of 850,000 U.S. Jobs:

The U.S. Trade Deficit With Canada And Mexico Increased Ten-Fold Between 1993 And 2013, Resulting In The Loss Of 850,000 Jobs. “Between 1993 (before NAFTA took effect) and 2013, the U.S. trade deficit with Mexico and Canada increased from $17.0 billion to $177.2 billion, displacing more than 850,000 U.S. jobs. Growing trade deficits and job displacement, especially between the United States and Mexico, were the result of a surge in outsourcing of production by U.S. and other foreign investors. The rise in outsourcing was fueled, in turn, by a surge in foreign direct investment (FDI) into Mexico, which increased by more than 150 percent in the post-NAFTA period.” (Robert E. Scott, “Fast Track To Lost Jobs And Lower Wages,” Economic Policy Institute’s Working Economics Blog, 4/13/15)

Since NAFTA Took Effect In January 1994, The U.S. Has Lost 4,570,000 Manufacturing Jobs, A 27 Percent Decline. (Bureau Of Labor Statistics, Accessed 6/21/16)

In May 2016, The U.S. Had 12,285,000 Manufacturing Jobs, Down From 16,855,000 Manufacturing Jobs In January 1994. (Bureau Of Labor Statistics, Accessed 6/21/16)

THE U.S. HAS SEEN JOB LOSSES AND DEPRESSED WAGES DUE TO FREE TRADE

The U.S. Has Lost 5 Million Manufacturing Jobs Since 1997, Most Due To Bad Trade Deals And Rising Trade Deficits:

“More Than 5 Million U.S. Manufacturing Jobs Were Lost Between 1997 And 2014,” Primarily Due To “Growing Trade Deficits With Countries That Have Negotiated Trade And Investment Deals With The United States.” “More than 5 million U.S. manufacturing jobs were lost between 1997 and 2014, and most of those job losses were due to growing trade deficits with countries that have negotiated trade and investment deals with the United States.” (Robert E. Scott, “Fast Track To Lost Jobs And Lower Wages,” Economic Policy Institute’s Working Economics Blog, 4/13/15)

In December 2014, There Were 12,294 Million U.S. Manufacturing Jobs, Down From 17,297,000 U.S. Manufacturing Jobs In 1997. (Bureau Of Labor Statistics, Accessed 6/24/16)

Since Bill Clinton Became President In January 1993, The U.S. Has Lost 4,506,000 Manufacturing Jobs, A 27 Percent Decline. (Bureau Of Labor Statistics, Accessed 6/21/16)

In May 2016, The U.S. Had 12,285,000 Manufacturing Jobs, Down From 16,791,000 Manufacturing Jobs In January 1993. (Bureau Of Labor Statistics, Accessed 6/21/16)

Since NAFTA Took Effect In January 1994, The U.S. Has Lost 4,570,000 Manufacturing Jobs, A 27 Percent Decline. (Bureau Of Labor Statistics, Accessed 6/21/16)

In May 2016, The U.S. Had 12,285,000 Manufacturing Jobs, Down From 16,855,000 Manufacturing Jobs In January 1994. (Bureau Of Labor Statistics, Accessed 6/21/16)

“The North American Free Trade Agreement (NAFTA) Entered Into Force On January 1, 1994.” (M. Angeles Villarreal and Ian Fergusson, “The North American Free Trade Agreement (NAFTA),” Congressional Research Service, 4/16/2015)

Trade With Low-Wage Countries Reduced U.S. Workers’ Wages By $180 Billion In 2011:

Trade Competition With China And Other Low-Wage Countries Results In Reduced Wages For All 100 Million U.S. Workers Without A College Degree. “Worse yet, growing competition with workers in China and other low-wage countries reduced the wages of all 100 million U.S. workers without a college degree, leading to cumulative losses of approximately $180 billion per year.” (Will Kimball and Robert E. Scott, “China Trade, Outsourcing And Jobs,” Economic Policy Institute, 12/11/14)

Trade With Low-Wage Countries Lowered Annual Wages By 5.5 Percent – Roughly $1,800 For Full-Time Workers Without A College Degree. “To put these estimates in macroeconomic terms, in 2011, trade with low-wage countries lowered annual wages by 5.5 percent—roughly $1,800 for all full-time, full-year workers without a college degree. To provide comparable economy-wide impact estimates, assume that 100 million workers without a college degree suffered total losses of $1,800 per year, which yields a total national loss of $180 billion.” (Will Kimball and Robert E. Scott, “China Trade, Outsourcing And Jobs,” Economic Policy Institute, 12/11/14)

Assuming 100 Million U.S. Workers Without A College Degree Results In A Lost Of $180 Billion In Wages In 2011. “To provide comparable economy-wide impact estimates, assume that 100 million workers without a college degree suffered total losses of $1,800 per year, which yields a total national loss of $180 billion.” (Will Kimball and Robert E. Scott, “China Trade, Outsourcing And Jobs,” Economic Policy Institute, 12/11/14)