The National Farmers Union intends to score the vote on trade promotion authority in the House. NFU President Roger Johnson encourages House lawmakers to consider the impacts that trade agreements have had on the domestic economy and vote no on TPA. Johnson says the overall trade deficit must be considered in agreements. He says the U.S. has grown a significant trade deficit after several free trade agreements – including the North American Free Trade Agreement. Last year – Johnson says the deficit increased to 505-billion dollars – or nearly three-percent of the U.S. Growth Domestic Product. Johnson says currency manipulation is a major factor impacting the trade deficit – as several countries involved in the Trans-Pacific Partnership negotiations are known currency manipulators. He says future trade agreements – including TPP – should directly address currency manipulation and include binding consequences for those that continue to manipulate currency. NFU urges lawmakers to oppose TPA.
Source: NAFB News Service