Take the politics out of trade

International trade has its own architecture. It’s buttressed by good, average and nose-pinching trade agreements with some institutional scaffolding, such as the Export-Import Bank, thrown in.

A few of those supports — the Ex-Im bank, in particular — risk collapse.

On Tuesday, the U.S. Trade Representative, Ambassador Michael Froman, was in town to participate in an agriculture roundtable, tour Boeing, and underscore the importance of the Trans-Pacific Partnership, a comprehensive free trade agreement years in the making.

“No state is more oriented to trade than Washington,” Froman told The Herald. In fact, Washington topped out at $81.6 billion in exports this year, a record. The TPP, the centerpiece of the Obama administration’s “pivot” toward Asia, was launched in 2005 during the George W. Bush era. The mission was to have negotiations sewed up by 2012, but sticking points over intellectual property rights and agriculture have triggered delays. For Northwest farmers and the high-tech industry, ensuring that the highest standards are incorporated is worth the extended wait.

ADVERTISEMENT
0 seconds of 0 secondsVolume 0%
Press shift question mark to access a list of keyboard shortcuts
00:00
00:00
00:00
 

The future of the Export-Import Bank is more concerning. Congress has until Sept. 30 to OK re-authorization of the 80-year old institution. What should be a no-brainer — a boost to manufacturers and workers in trade-dependent states like Washington, and a program that doesn’t whack taxpayers — is a political football. In June, freshman U.S. Rep. Denny Heck, D-Olympia, introduced the Protect American Jobs and Exports Act of 2014, which extends the bank’s charter until 2021, and stretches the current cap by $5 billion a year.

“If we abandon this resource, we are allowing China, Russia and European countries to gain ground in export deals previously made with us, the economic equivalent of forfeiting in the World Cup when we know we have the best team,” Heck said in a statement.

Rep. Rick Larsen, D-Everett, who shepherded the bill reauthorizing the bank in 2012 and accompanied Froman on his Boeing tour, noted that, “in my district, the bank supports thousands of jobs at companies of all sizes by helping these businesses sell their products overseas. The bank successfully finances billions of dollars of exports without costing taxpayers a dime.”

Washington’s Congressional delegation is united, with the notable exception of Rep. Cathy McMorris Rodgers, R-Spokane (there’s been significant tea party opposition to Ex-Im, and McMorris Rodgers is part of the House leadership.) On matters of trade — presupposing environmental, labor and other concerns are addressed — bipartisanship is a necessity.

Talk to us

> Give us your news tips.

> Send us a letter to the editor.

> More Herald contact information.

More in Opinion

toon
Editorial cartoons for Monday, May 19

A sketchy look at the news of the day.… Continue reading

Wildfire smoke builds over Darrington on Friday, Sept. 11, 2020 in Darrington, Wa. (Olivia Vanni / The Herald)
Editorial: Loss of research funds threat to climate resilience

The Trump administration’s end of a grant for climate research threatens solutions communities need.

toon
Editorial cartoons for Sunday, May 18

A sketchy look at the news of the day.… Continue reading

Comment: Cuts to Medicaid will make fentanyl fight harder

Medicaid’s expansion is helping many get the addiction treatment they need, reversing the crisis.

Comment: PBS, NPR need funding, and a good shake-up

PBS’s best dramas come from British TV. It needs to produce its own money-makers like ‘Downton Abbey.’

Saunders: Why did Tapper wait until now to admit Biden’s decline?

It was clear to voters long before Biden dropped out. Yet, now the CNN host has a book to sell.

Goldberg: How did so many Democrats miss Biden’s infirmity?

Democrats need to own up to the cover-up now while there’s time to earn back voters’ confidence.

In the summer of 2021, members of the Skagit River System Cooperative counted fish in the restored estuary of Leque Island near Stanwood. What they found was encouraging. (Chuck Taylor / The Herald) 20210817
Comment: Ignoring the climate choice to adapt or die

The loss of funding for climate adaptation science will leave regions to weather impacts on their own.

Reverse Congress librarian’s unjust firing

I am beyond heartbroken by the unceremonious firing of Dr. Carla Hayden,… Continue reading

Should states handle issue of immigration?

OK, here we go again. The southern states have been screaming ‘states’… Continue reading

Candidates without opponents should decline donations

No candidates registered to run against Jared Mead or Nate Nehring for… Continue reading

Sarah Weiser / The Herald
Air Force One touches ground Friday morning at Boeing in Everett.
PHOTO SHOT 02172012
Editorial: There’s no free lunch and no free Air Force One

Qatar’s offer of a 747 to President Trump solves nothing and leaves the nation beholden.

Support local journalism

If you value local news, make a gift now to support the trusted journalism you get in The Daily Herald. Donations processed in this system are not tax deductible.