Peterson Institute for International Economics
Senior fellow at the Peterson Institute for International Economics, a Washington-based, nonprofit research group; co-author of North American Free Trade: Issues and Recommendations, written pre-NAFTA; NAFTA: An Assessment, published just before NAFTA's ratification in 1993; Economic Sanctions Reconsidered and Global Warming and the World Trading System
How a President Trump could disrupt US trade agreements Both presidential candidates have said they are against the Trans-Pacific Partnership trade deal. And Donald Trump has said that he will also renegotiate or withdrawal from NAFTA and possibly from the World Trade Organization. Critics warn that those actions could trigger a trade war and that it would be surprisingly easy for Trump to make good on those promises if he was elected.
NAFTA and the Road to the White House The North American Free Trade Agreement is 22 years old — but Donald Trump and Bernie Sanders have put it back in the headlines. They attack it for putting Americans out of work by sending jobs to Mexico. Bill Clinton signed NAFTA, making it awkward for Hillary, especially in California. Economists say free trade is what they call "a net benefit" to the US economy, but until now, there's been more emphasis on the gain than there's been on the pain. With the Trans Pacific Partnership not yet submitted to Congress, we get a reality check on an issue that won't go away.
It's Touch and Go for the Biggest Trade Deal in History President Obama has been negotiating the Trans-Pacific Partnership with 11 Asian-Pacific countries, although details are secret. He calls it a vital opening to Asian markets that are key to American prosperity. Having negotiated since 2009, the President wants it as part of his legacy, and he's asking Congress to re-authorize so-called "fast track" authority. Most Republicans agree -- but his own party is sharply divided. Elizabeth Warren and other progressives see a giveaway of national sovereignty with billions of taxpayer dollars going to multi-national corporations. Labor leaders and environmentalists call it NAFTA on steroids. We hear both sides.
A Worldwide View of Low Oil Prices It’s not just California that’s feeling the effects of cheap oil. Thousands of contract workers in the oil industry have been laid off around the world. This week, oil giant BP announced that it will freeze pay for 84,000 workers, and governments in places like Venezuela, Nigeria and Russia - which are dependent on oil - are running out of money. We take a look at how low oil prices are playing out around the globe.
The President's Trip to Asia: Substance and Symbols President Obama has left for a week in Asia as American influence has been on the decline, while China's influence is increasing. So "the overarching theme" of the President's trip will be that the US is a Pacific nation engaged with Asia "in a very comprehensive way." That's what the National Security Council's been telling reporters.
The President's Trip to Asia: Substance and Symbols As the US continues to struggle out of recession, Asia currently is regarded as the most economically dynamic place in the world. In high-profile visits to four countries in eight days, President Obama will express what the State Department calls "strategic reassurance." We hear what that means to allies, including Japan and South Korea, and to China, which the President describes as both a competitor and a "vital partner," one whose influence is increasing. We also hear about conflicts with different countries and broader issues of human rights, global warming, Iran and Afghanistan.
NAFTA, the Canadian Government and the Democratic Campaign Barack Obama and Hillary Clinton are looking for votes in Mississippi tomorrow, but last week's flap over the North American Free Trade Agreement is still on the radar screen. US Ambassador David Wilkins complained that the Canadian government had interfered with the US political process. During a Clinton-Obama debate in Ohio, both promised publicly to pressure for renegotiation of NAFTA, but Ohio voters heard only about Obama. Canada TV then reported that an Obama aide had privately reassured Canadian officials not to worry, that it was all political rhetoric in a state where NAFTA is blamed for a loss of jobs. The Clinton campaign accused Obama of dishonesty, and the issue contributed to his loss in Ohio. Meantime, as Clinton escalates her attacks, Obama is beginning to respond in kind. Are they handing John McCain issues to use in November? Will their ongoing battle make it harder for him to get the attention he needs to rally Republican skeptics?
Iran and Nuclear Brinksmanship Yesterday, time ran out for Iran to meet the UN Security Council's deadline to stop enriching uranium. President Ahmadinejad says that will never happen. The International Atomic Energy Agency reports that enrichment did, indeed, begin again in the past few days. President Bush says, "There must be consequences." But what will they be? So what does the United Nations do now? What’s the evidence that Iran is using enrichment technology to build a nuclear bomb? Is the case any better than the one against Saddam Hussein? What would economic sanctions look like, and what if diplomacy doesn’t work? (An expanded version of this discussion was originally broadcast earlier today on To the Point.)
Iran and Nuclear Brinksmanship Yesterday, time ran out for Iran to meet the UN Security Council 's deadline to stop enriching uranium. President Ahmadinejad says that will never happen. The International Atomic Energy Agency reports that enrichment did, indeed, begin again in the past few days. President Bush says, "There must be consequences." But what will they be? So what does the United Nations do now? What's the evidence that Iran is using enrichment technology to build a nuclear bomb? Is the case any better than the one against Saddam Hussein? What would economic sanctions look like, and what if diplomacy doesn't work?
Replacing Obamacare: Now you see it… now you don’t As the Senate deliberates replacing Obmacare, health coverage for millions of people is at stake. There've been no public hearings, and a draft measure won't be made public. Is the House version so unpopular that that Senate is hiding a version that looks much the same?
Trump plays scolder-in-chief with NATO allies At the opening of NATO’s dramatic new headquarters in Brussels today, President Trump acknowledged that Article 5 — promising that “an attack on one nation is an attack on all” -- has only been invoked one time: in the aftermath of September 11. But the President failed to provide what 27 other Alliance members have been waiting for: a re-commitment by America’s new leader to Article 5. Instead, they got a scolding.
President Trump: US to withdraw from the Paris Climate Accord Trump says he was elected to serve Pittsburgh, not Paris.
Janesville and the American Dream Janesville, Wisconsin is the hometown of Republican House Speaker Paul Ryan. But he couldn’t prevent the closing of the General Motors factory after 100 years. On this Memorial Day rebroadcast of To the Point, we hear what’s happened to what once was a model of American middle-class unity.