O’Malley: Stop stumbling into bad trade deals

It's time for America to stop stumbling backward into bad trade deals, and instead pursue a trade policy that will benefit our economy, workers, and our planet.

This week, the White House and 11 countries - including Japan, Mexico, and Vietnam - agreed on a secret trade deal called the Trans-Pacific Partnership (TPP). If the agreement turns out to be chock-full of sweetheart deals for specials interests and powerful corporations, as we suspect it will be, then Congress must oppose it.

While trade agreements are intended to open markets for U.S. companies, they often further concentrate wealth at the very top. We saw this here in Iowa especially: NAFTA was passed with good intentions, but cost the Iowa economy 10,000 jobs, and our U.S. economy nearly 700,000 more. Iowa saw plants close, saw jobs outsourced - and all for a deal that lowered standards for labor and the environment the world over.

We must learn from the mistakes of the past and ensure they do not happen again. If we don't get our trade deals right, we put the livelihoods of millions of Americans in peril.

The TPP is not, as some have called it, a 'gold standard” deal. Instead, it is a story of winners and losers. Companies that support millions of American families, like those in the manufacturing industry - where good-paying jobs are disappearing at a faster rate than during the Great Depression - will see accelerating job losses and outsourcing.

The TPP is unprecedented in its ambition, size, and scope. Comprising 40 percent of the global economy, it will govern not just international trade in goods - but also labor rights, intellectual property rights, environmental standards, and financial regulations. For the richest companies, which already manufacture most of their products overseas, the TPP is a boon for the corporate bottom-line, making it easier to outsource work and earn bucks abroad. For the middle class, the TPP deal will make it even harder to earn a paycheck at home.

The future of America's workers, manufacturers, and small businesses depends on our getting this deal right. For that, we need new leadership, with a consistent position, to build up our American economy and give rise to a global middle class.

Not all trade deals are bad. As President, I will support good free trade agreements that uphold our nation's values, not bad deals that undermine our prosperity.

The TPP was negotiated with corporate interests at heart and thus misses the mark. But in our increasingly global and interconnected world, trade is a powerful and vital tool to expand American influence. Trade deals done well - complete with high labor and environmental standards and carefully crafted rules - can open new markets for U.S. businesses and agriculture, can protect our planet from climate change, and will support a thriving middle class.

That's why, today, I am releasing a comprehensive trade policy agenda that calls for establishing strong, enforceable rules for fair competition - rules that are in the best interests of American families, workers, and businesses.

First, my plan starts with holding other countries accountable when they cheat the market by manipulating the value of their currency - something the TPP does not do. If a country deliberately tries to manipulate its currency to gain an unfair edge in the global market, the U.S. should cut off privileged access to American consumers.

Companies, just like countries, must also play by the rules. That's why my plan protects countries against multinational corporations that put their profits above the public interest. In the past, big business has used tribunals to get around environmental, health, and safety protections. No agreement, including the TPP, should allow for corporations to sue for damages in private tribunals.

Instead, we should ensure that trade agreements create greater opportunity for workers and the environment that sustains us. This means guaranteeing workers' rights to organize and collectively bargain - ensuring that American companies do not suffer a competitive disadvantage because they pay higher wages and respect unions. And when our trading partners destroy the environment and accelerate climate change, we should suspend their benefits under our free trade agreements.

Above all, if America signs a trade deal, it should benefit the American people. My trade plan calls on Congress to ensure that free trade agreements are forged in concert with policies that help the middle class - such as raising the minimum wage, passing comprehensive immigration reform, and making robust investments in our nation's infrastructure.

If nations want to get privileged access to the U.S. economy, they must also uphold American values. That is the trade policy I will fight for as President of the United States.

' Martin O'Malley is a former governor of Maryland and a Democrat running for president. Comments: momalley@martinomalley.com

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