On trade policy, Clinton now finds herself to the right of Mr. Wall Street Democrat, Chuck Schumer. And this is only the first of countless tests of where Clinton really stands -- tests that will keep coming up between now and primary season. If she is presenting herself as a forceful leader, it ill-becomes Clinton to duck.
More and more public-interest organizations are organizing and denouncing the rigged fast-track approval process and TPP trade agreement. One after another, members of Congress are announcing opposition to fast track and demanding that trade problems like currency manipulation be covered by the TPP agreement.
Hundreds of members of Congress (from both parties!) are joining economists left and right to include an enforceable provision on currency manipulation in the TPP, but there are still some who argue that this rule isn't needed. That's why we put together this handy list of the top 10 facts you need to know about currency and the TPP. (Hint: It's about middle-class jobs).
The critical reason that Congress should take a pass on this much-too-late effort to address currency manipulation is that it would likely abort our chance for a really beneficial free-trade agreement with Pacific Rim nations, which would bring us must better access to many growing markets. If there were a good time to do this, it was many years ago.
The IMF Guidelines demonstrate that the United States is not manipulating its currency and would not be at risk of losing a dispute. The far greater risk is that more middle class jobs will be lost in the United States as a result of foreign governments' currency manipulation. We need strong and enforceable disciplines in TPP to help prevent that from happening.