The politics of trade apparently depends—mostly—on how much you stand to gain. A sweeping trade deal with Asia countries, according to its supporters, would vastly expand the market for U.S. exports and give the American economy a shot in the arm. Or, say opponents, it would simply further expand the export of jobs overseas, dealing American workers a big setback.
That contentious debate is now working its way through Congress after a bipartisan vote late last week that cleared the way for a major showdown this summer.
Though the Senate-approved measure still faces a tough fight in the GOP-controlled House, the battle so far has largely ignored party lines. Rather, much—but not all—of congressional support for expanding Asian trade depends on the importance of those exports to state’s economies, based on a CNBC state-by-state analysis of exports to Asian countries.
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.
Latest posts by marketpulsefxstaff (see all)
- Oil Remains Near Multi-Month Lows - 6 August 2015
- U.S. Dollar Higher on Recent Data - 6 August 2015
- Greece’s PM Tsipras: Loan Deal with Lenders Close - 6 August 2015