Last week, President Obama’s credibility on trade policy took another punch in the neck.
The President’s best remaining pitch was his promise of strong enforceable standards for labor and the environment. Last week, that collapsed in a breath-taking display of cynicism.
On May 8, President Obama went to Nike in Oregon, to insist that TPP would fix the broken promises of past trade deals going back to NAFTA.
“It’s the highest-standard, most progressive trade deal in history. It’s got strong, enforceable provisions for workers, preventing things like child labor. It’s got strong, enforceable provisions on the environment, … And these are enforceable in the agreement.”
President Obama continued,
“And if Vietnam, or any of the other countries in this trade agreement don’t meet these requirements, they’ll face meaningful consequences. If you’re a country that wants in to this agreement, you have to meet higher standards. If you don’t, you’re out. If you break the rules, there are actual repercussions.”
A great speech, by all accounts.