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Looks like it is back on folks.
http://blogs.rollcall.com/wgdb/senate-reaches-deal-on-trade/
kentuck
(111,110 posts)They have corralled a few Democrats to believe that the only thing holding it up was the "lack of enforcement" issue. "See!", they say. "We got a victory for the working people."
Hoyt
(54,770 posts)economists believe would bring a lot of new jobs. Exactly how they attempt that, is another story. But, even the self-styled "progressives" are going to have a hard time arguing that will not help the job situation here (although, I'm sure the will argue it and call Obama all kinds of names).
okaawhatever
(9,462 posts)the exchange rate for the Yuan will go up). The reason Chinese goods are so cheap is because China deliberately keeps their currency low. If their currency were allowed to rise, as is the case with countries with high exports, some Chinese companies would no longer have a cost advantage over the US.
The problem with any currency manipulation bill is that it will likely block countries from doing what is necessary with their currency during an economic downturn.
kentuck
(111,110 posts)Manipulate the currencies of all the countries to adhere to one rate, set by the World Bank.
Of course, what happens if a shortage of a product in one of the countries drives up the price on all its citizens? What happens if that product is oil? Would that be fair to those low-wage countries, that might find it even more difficult to survive if they cannot manipulate their individual currencies? Just a thought...
Hoyt
(54,770 posts)Tierra_y_Libertad
(50,414 posts)bluesbassman
(19,379 posts)DJ13
(23,671 posts)octoberlib
(14,971 posts)Updated 3:17 p.m. | Senate leaders agreed to a deal to get President Barack Obamas fast-track trade bill back on track Wednesday, with Majority Leader Mitch McConnell, R-Ky., offering separate votes first on two bills demanded by Democrats.
That includes the key customs bill with currency enforcement provisions opposed by the White House, as well as a trade preference bill aimed at helping developing countries. Both will face a 60-vote threshold, with votes planned for Thursday.
Minority Leader Harry Reid, D-Nev., who is a hell no on fast track, nonetheless praised McConnells offer as fair, although he noted Democrats would still want to offer amendments on the underlying fast-track bill.
The deal also rescues President Barack Obamas trade agenda, just one day after all but one member of his own party blocked debate on it.
Optimism for a revival of the bill had been increasing overnight, after Obama summoned 10 pro-trade Democrats to a meeting and Democrats made clear they would accept separate votes on the other bills instead of demanding all four bills in a single package. (McConnell had been offering up votes on amendments.)