Democrats: Obama Has Done ‘Nothing’ to Fix Trade Deal Problems
“The last thing we want to do is allow companies that want to have access to our markets cheat,” he said. “It’s even worse if the countries where these companies are located are cheating because the message it sends to these foreign companies in these foreign countries is, ‘hey, don’t worry, you can cheat because we’re cheating ourselves as official governments vis-a-vis the United States’ – that’s the worst message you can send.”
Under TPP, Becerra said there is no obligation on the part of the U.S. government to ensure there are enforcement currency manipulation provisions.
“When he [Obama] was in the Senate, he was against currency manipulation, and so we hope he will work very hard to make sure there are enforceable provisions,” he said. “If not, then we’re sending a very clear signal: not only are we going to let companies in these foreign countries cheat, but we are going to let the countries we are expecting to enforce the provisions of the trade deal cheat as well.”
An official agreement was not reached after the meeting in Hawaii wrapped up on July 31.