Friday, May 29, 2015

Group asserts fast-track trade bill will kill jobs

An Oregon group asserts the fast-track trade legislation being debated in the House of Representatives would kill as many as 1,400 local jobs.

From the Oregon Fair Trade Campaign:
Labor advocates shared a report with U.S. Representative Kurt Schrader’s office today to warn that his district would be giving up thousands of jobs by approving the Trans-Pacific Partnership (TPP) trade agreement without safeguards to prevent currency manipulation by foreign governments. The congressman recently said he intends to support “fast track” legislation that would allow the TPP to be rushed through Congress without currency protections.

“Rep. Schrader has said that it’s imperative that the TPP address currency manipulation to protect American workers, businesses and farmers. Now that it’s clear that the TPP would allow this unfair trade practice to continue, he should oppose giving the job-killing pact a rubber stamp,” said Elizabeth Swager of Oregon Fair Trade Campaign.

The TPP is a proposed twelve-nation trade pact that would set rules governing approximately 40% of the global economy. Last week, the U.S. Senate approved legislation to fast track the TPP that failed to include the currency safeguards that Rep. Schrader and a bipartisan majority of other House members said were necessary in a June 2013 letter to the President. The House is now considering the bill.

A recent study by the Economic Policy Institute found that the United States has lost nearly 900,000 jobs due to currency manipulation by prospective TPP partner, Japan, alone. The study found that Japanese currency manipulation has cost Oregon's 5th Congressional district 1,400 jobs, and 9,400 jobs statewide.

“If trade negotiators were serious about creating American jobs through the TPP, one of the first things they would have insisted upon is an end to currency cheating that prices Oregon's exports out of the market,” said Greg Pallesen of the Association of Western Pulp and Paper Workers. “A bipartisan majority in the House, including Rep. Schrader, insisted that this was a problem and trade negotiators told them tough luck. This should be an easy call for Rep. Schrader, but he got it wrong by leaving Oregon's jobs unprotected.”

Last month constituents delivered a letter signed by over 2,000 organizations across the country urging his to oppose the fast track legislation.

No comments:

Post a Comment