Hillary Clinton voices opposition to Pacific trade deal

Hillary Klinton-global news-people re-el magazine

8 October 2015

Tags:news, business news financial news, australian news, live news

US presidential hopeful Hillary Clinton has come out against the Trans-Pacific Partnership agreement championed by Barack Obama.

The landmark trade deal involves 12 countries along the Pacific rim, including the US, Australia and Japan.

In an interview Mrs Clinton said the agreement left many “unanswered questions” and did not meet the “high bar” she had set.

“I am not in favour of what I have learned about it,” she told PBS.

The former Secretary of State joins rivals for the Democratic presidential nomination, Bernie Sanders and Martin O’Malley, in opposing the agreement.

The deal took five years to negotiate and covers 40% of the global economy.

Analysis: Anthony Zurcher, North America reporter

The TPP will cover about 40% of the world economy

Hillary Clinton’s move to come out against the TPP – with some qualifications – less than a week out from the first Democratic debate will instantly be viewed in the context of Democratic presidential politics.

Vermont Senator Bernie Sanders – who has repeatedly condemned the trade agreement as harming US workers and threatening the environment – is offering a surprisingly strong challenge to Mrs Clinton from the populist left.

He was likely to bring the topic up during the debate and use it against the former Secretary of State, who once called the agreement the “gold standard” for trade negotiations.

By backing away from the TPP, Mrs Clinton could also be anticipating the arrival of another, more formidable opponent for the Democratic nomination: Joe Biden.

The vice-president has made increasingly clear moves toward a presidential bid, and given his current job it would be extremely difficult for him to oppose a key piece of his boss’s presidential legacy.

Mr Biden’s campaign would be likely to rely heavily on working-class, union support – a segment of the Democratic electorate that is firmly opposed to new trade deals. Mrs Clinton could be digging her trenches now, before the battle commences.

In an interview on Wednesday, Mrs Clinton said she would only support a trade bill that helped American workers.

“I have said from the very beginning that we had to have a trade agreement that would create good American jobs, raise wages and advance our national security and I still believe that is the high bar we have to meet,” she said.

President Obama, for whom the deal would be a prime economic achievement of his second term, said the deal would level the global playing field for US workers.

“[The deal] includes the strongest commitments on labour and the environment of any trade agreement in history,” he said after the agreement was reached.

Meanwhile, Mrs Clinton also plans to propose a tax on high-frequency trading, her campaign said.

The tax would target securities transactions with excessive levels of order cancellations that can destabilise the markets, a campaign aide said.

Tags:news, business news financial news, australian news, live news





Global News see also….


US boy, 11, held for shooting dead eight-year-old neighbour

6 October 2015

Mc Kayla-global news-people re-el magazineAn 11-year-old boy in the US state of Tennessee has been held on suspicion of shooting dead an eight-year-old girl….read more



France floods: 16 dead on Riviera after storms

4 October 2015

floodsstuart-global news-people re-el magazineViolent storms and flooding have hit south-eastern France, killing at least 16 people with three more missing,….read more



Pope secretly met Kentucky clerk over gay marriage licenses

30 September 2015

Kentucky county clerk Kim Davis speaks during an interview on Fox News Channel's 'The Kelly File' in New York September 23, 2015. REUTERS/Brendan McDermid

Pope Francis secretly met a Kentucky county clerk who was jailed for refusing to issue marriage licenses to….read more



Putin reaffirms support for Assad as he decries ‘propaganda’ against Syria

28 September 2015

Putin-global news-people re-el magazineRussian president rejects allegations of gangsterism from the likes of Marco Rubio: ‘How can I be a gangster if….read more



Hajj stampede: Saudis face growing criticism over deaths

25 September 2015

Jamarat-global news-people re-el magazineIran has led growing criticism of Saudi Arabia after at least 717 people died and 863 were injured in a….read more