Jeff Merkley on Free Trade Democratic Jr Senator (OR)

Support free-trade, but wait on Trans-Pacific Partnership

Sen. Ron Wyden, D-Ore., has his own somewhat more restrictive O&C plan. Conger flatly says he would vote against it if the Wyden plan came to the Senate floor. Wehby says she'd wait to see the final form.

Both lean toward supporting free-trade pacts. But neither is ready to commit on the upcoming Trans-Pacific Partnership or on legislation--known as Trade Promotion Authority--that would allow an up-or-down congressional vote on any trade agreement approved by negotiators.

Oppose trade agreements that use NAFTA as a model

Cancel or fix unfair trade deals

End federal giveaways to companies that ship jobs overseas

Strengthen the Buy American Act

Oppose giving the President fast track trade authority

Include real & enforceable labor & environmental standards

Review free trade agreements biennially for rights violation.

Trade Reform, Accountability, Development, and Employment Act or the TRADE Act:
1. review biennially certain free trade agreements (including Uruguay Round Agreements) between the US and foreign countries to evaluate their economic, environmental, national security, health, safety, and other effects; and
2. report on them to the Congressional Trade Agreement Review Committee (established by this Act), including analyses of specified aspects of each agreement and certain information about agreement parties, such as whether the country has a democratic form of government, respects certain core labor rights and fundamental human rights, protects intellectual property rights, and enforces environmental laws.

Declares that implementing bills of new trade agreements shall not be subject to expedited consideration or special procedures limiting amendment, unless such agreements include certain standards with respect to:
1. labor;
2. human rights;
3. environment and public safety;
4. food and product health and safety;
5. provision of services;
6. investment;
7. procurement;
8. intellectual property;
9. agriculture;
10. trade remedies and safeguards;
11. dispute resolution and enforcement;
12. technical assistance;
13. national security; and
14. taxation.

Declare Turkish rebar subject to anti-dumping duties.

Excerpts from Letter from 31 Senators to the Secretary of Commerce: We write to you regarding countervailing duty and antidumping investigations being conducted by the Department of Commerce on imports of steel reinforcing bar (rebar) from Turkey and Mexico.

Rebar is one of the largest volume steel products produced in the US, employing more than 10,000 workers in over 30 states. With nearly 7 million tons of domestic production, a healthy rebar industry is critical to a strong economy. However, it is our understanding that imports from Turkey and Mexico are surging into the US, nearly doubling from 2011 to 2013.

The ITC recently found that Mexican and Turkish rebar producers are consistently underselling US producers, resulting in substantial lost sales and depressed; [plus] a preliminary finding that the Government of Turkey bestows energy subsidies to its rebar industry, but that such subsidies are only de minimis in value. This seems surprising given the inherently energy-intensive nature of steel production.

Opposing argument: (Heritage Foundation, "Guide to Antidumping Laws", July 21, 1992) One of the pillars of the "fair trade" approach is a set of so-called antidumping and countervailing duty laws. Antidumping laws seek to prevent products manufactured overseas from being sold by foreign firms in the U.S. at "less than fair value." Countervailing duties seek to offset subsidies provided by foreign governments by imposing duties at the U.S. border.

The antidumping laws are confusing and arbitrary, and in many instances merely allow American firms to secure punitive tariffs against competing importers where no unfair trade practices are involved. Worse, these laws drive up the costs of imported components used by other American enterprises, making their products less competitive in world markets. As a result, American consumers pay higher prices for both imported and domestically produced goods.

Voted FOR reauthorizing Ex-Im Bank.

Heritage Action summary of vote# S206: The Senate voted to table (kill) an amendment by Sen. Kirk to reauthorize the Export-Import Bank. Sen. Kirk recommends voting NO. Heritage Foundation recommends voting YES because the "Ex-Im Bank is little more than a $140 billion slush fund for corporate welfare."

OnTheIssues explanation: Voting NO would allow a vote on reauthorization of the Ex-Im Bank. Voting YES would kill the bill for reauthorizing the Ex-Im Bank.

Congressional Summary from previous Ex-Im bill S.824; the Ex-Im Bank shall:
• Provide technical assistance to small businesses on how to apply for financial assistance;
• Establish programs under which private financial institutions may share risk in loans & guarantees.
• The Bank may enter into up to $25 billion worth of contracts of reinsurance or co-finance.

Cato Institute reason for voting YES to kill the bill:The Ex-Im Bank's reauthorization buffs contend that Ex-Im fills a void left by private sector lenders unwilling to provide financing for certain transactions. Ex-Im's critics [say that] by effectively superseding risk-based decision-making with the choices of a handful of bureaucrats pursuing political objectives, Ex-Im risks taxpayer dollars. It turns out that for nearly every Ex-Im financing authorization that might advance the fortunes of a single US company, there is at least one US industry whose firms are put at a competitive disadvantage. These are the unseen consequences of Ex-Im's mission.

$25B more loans from Export-Import Bank.

This bill raises the cap on outstanding loans, guarantees, and insurance of the Export-Import Bank of the United States for FY2015-FY2022 and afterwards. The Bank shall:

• Provide technical assistance to small businesses on how to apply for financial assistance from the Bank;
• Establish programs under which private financial institutions may share risk in the loans, guarantees, and other Bank products in exchange for receiving fees received from program participants.
• The Bank may enter into up to $25 billion worth of contracts of reinsurance, co-finance, or other risk-sharing arrangements on its portfolio or individual transactions with insurance companies, financial institutions, or export credit agencies.

Opponents reasons for voting NAY: (Washington Examiner, 12/2/12): The Export-Import Bank is a taxpayer-backed agency that finances U.S. exports, primarily though loan guarantees. You'd think the bank would spread the money around to nurture up-and-coming businesses. You'd be wrong, very wrong. In fact, 83% of its taxpayer-backed loan guarantees in 2012 went to just one exporter: Boeing. Welcome to the "New Economic Patriotism," where the big get bigger and taxpayers bear the risk. Ex-Im is at the heart of Obama's National Export Initiative and is a pillar of the economic patriotism that Obama pledged in a second term. When government hands out more money, the guys with the best lobbyists and the closest ties to power will disproportionately get their hands on that money. Obama has spent four years pushing more subsidies, more bailouts and more regulations. "New Economic Patriotism" basically amounts to a national industrial policy -- Washington championing certain major domestic companies and industries, as if the global economy were an Olympic competition.

Rated 50% by the USAE, indicating a mixed record on trade.

Ratings by USA*Engage indicate support for trade engagement or trade sanctions. The organization's self-description: "USA*Engage is concerned about the proliferation of unilateral foreign policy sanctions at the federal, state and local level. Despite the fact that broad trade-based unilateral sanctions rarely achieve our foreign policy goals, they continue to have political appeal. Unilateral sanctions give the impression that the United States is 'doing something,' while American workers, farmers and businesses absorb the costs."

USA*Engage at Work
• Developing the Case: USA*Engage explains the benefits of economic engagement, and the high cost of sanctions for American exports, investment and jobs.
• Education: We recruit respected foreign policy and economic experts to speak out against sanctions, actively engage the media and provide outreach to key target states and Congressional districts.
• Contacting Government Officials: USA*Engage directly contacts Congressional, Administration, state and local officials.

VoteMatch scoring for the USA*Engage ratings is as follows :

• 0%-49%: supports trade sanctions;
• 50%-74%: mixed record on trade engagement;
• 75%-100%: supports trade engagement.