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Tim Scott on Free Trade

 

 


Yes to trade adjustment; Yes to fast-track

Source: Ballotpedia.org coverage of 2016 South Carolina Senate race , Jun 24, 2015

Opposes currency manipulation as trade negotiation topic

The Senate rejected an amendment sponsored by Sen. Rob Portman (R-OH) to the Trade Act (HR 1314). The amendment would have defined currency manipulation as a key issue for US trade negotiators to take into account during trade talks with other countries. A supporter, Sen. Debbie Stabenow (D-MI) said Japan and other Asian countries have used currency manipulation as a primary tactic to promote exports and discourage imports, creating an unfair trade dynamic for the US that hurts domestic manufacturers.

An amendment opponent, Sen. Orrin Hatch (R-UT) called it "far too risky" because it would derail prospects for signing the Trans-Pacific Partnership with Asian countries, subject US monetary policies to the threat of sanctions from overseas, and discourage currency exchange rate transparency by countries that export goods to the U.S. The vote, on May 22, was 48 yeas to 51 nays.

NAYS: Sen. Tim Scott R-SC

YEAS: Sen. Lindsey Graham

Source: Greenville News coverage of 2016 South Carolina Senate race , May 30, 2015

Declare Turkish rebar subject to anti-dumping duties.

Scott signed declaring Turkish rebar subject to anti-dumping duties

Excerpts from Letter from 31 Senators to the Secretary of Commerce: We write to you regarding countervailing duty and antidumping investigations being conducted by the Department of Commerce on imports of steel reinforcing bar (rebar) from Turkey and Mexico.

Rebar is one of the largest volume steel products produced in the US, employing more than 10,000 workers in over 30 states. With nearly 7 million tons of domestic production, a healthy rebar industry is critical to a strong economy. However, it is our understanding that imports from Turkey and Mexico are surging into the US, nearly doubling from 2011 to 2013.

The ITC recently found that Mexican and Turkish rebar producers are consistently underselling US producers, resulting in substantial lost sales and depressed; [plus] a preliminary finding that the Government of Turkey bestows energy subsidies to its rebar industry, but that such subsidies are only de minimis in value. This seems surprising given the inherently energy-intensive nature of steel production.

Opposing argument: (Heritage Foundation, "Guide to Antidumping Laws", July 21, 1992) One of the pillars of the "fair trade" approach is a set of so-called antidumping and countervailing duty laws. Antidumping laws seek to prevent products manufactured overseas from being sold by foreign firms in the U.S. at "less than fair value." Countervailing duties seek to offset subsidies provided by foreign governments by imposing duties at the U.S. border.

The antidumping laws are confusing and arbitrary, and in many instances merely allow American firms to secure punitive tariffs against competing importers where no unfair trade practices are involved. Worse, these laws drive up the costs of imported components used by other American enterprises, making their products less competitive in world markets. As a result, American consumers pay higher prices for both imported and domestically produced goods.

Source: Turkish Rebar Letter 14LTR-BAR on Apr 9, 2014

Voted YES to kill reauthorization of Ex-Im Bank.

Scott voted YEA Export-Import Bank Reform and Reauthorization Act

Heritage Action summary of vote# S206: The Senate voted to table (kill) an amendment by Sen. Kirk to reauthorize the Export-Import Bank. Sen. Kirk recommends voting NO. Heritage Foundation recommends voting YES because the "Ex-Im Bank is little more than a $140 billion slush fund for corporate welfare."

OnTheIssues explanation: Voting NO would allow a vote on reauthorization of the Ex-Im Bank. Voting YES would kill the bill for reauthorizing the Ex-Im Bank.

Sierra Club reason for conditionally voting NO (from previous bill S.819):Sen. Shaheen's bill S.824 reauthorizes the Ex-Im Bank without undermining Obama's Climate Action Plan. The Sierra Club supports the bill because it makes both financial and environmental sense for the US and all of its taxpayer-backed financial institutions--including Ex-Im--to stop investing in dirty and dangerous fossil fuels like coal.

Cato Institute reason for voting YES to kill the bill:The Ex-Im Bank's reauthorization buffs contend that Ex-Im fills a void left by private sector lenders unwilling to provide financing for certain transactions. Ex-Im's critics [say that] by effectively superseding risk-based decision-making with the choices of a handful of bureaucrats pursuing political objectives, Ex-Im risks taxpayer dollars. It turns out that for nearly every Ex-Im financing authorization that might advance the fortunes of a single US company, there is at least one US industry whose firms are put at a competitive disadvantage. These are the unseen consequences of Ex-Im's mission.

Source: Supreme Court case 15-S0995 argued on Oct 19, 2015

Rated 38% by the USAE, indicating support for trade sanctions.

Scott scores 38% by USA*Engage on trade issues

Ratings by USA*Engage indicate support for trade engagement or trade sanctions. The organization's self-description: "USA*Engage is concerned about the proliferation of unilateral foreign policy sanctions at the federal, state and local level. Despite the fact that broad trade-based unilateral sanctions rarely achieve our foreign policy goals, they continue to have political appeal. Unilateral sanctions give the impression that the United States is 'doing something,' while American workers, farmers and businesses absorb the costs."

VoteMatch scoring for the USA*Engage ratings is as follows :

Source: USA*Engage 2011-2012 ratings on Congress and politicians 2012-USAE on Dec 31, 2012

Other candidates on Free Trade: Tim Scott on other issues:
SC Gubernatorial:
Henry McMaster
Lindsey Graham
Mick Mulvaney
Nikki Haley
Tommy Pope
Yancey McGill
SC Senatorial:
Brad Hutto
Jay Stamper
Jim DeMint
Lee Bright
Lindsey Graham
Nancy Mace
Rick Wade
Thomas Ravenel

SC politicians
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Retiring in 2014 election:
GA:Chambliss(R)
IA:Harkin(D)
MI:Levin(D)
MT:Baucus(D)
NE:Johanns(R)
SD:Johnson(D)
WV:Rockefeller(D)

Retired as of Jan. 2013:
AZ:Kyl(R)
CT:Lieberman(D)
HI:Akaka(D)
ND:Conrad(D)
NM:Bingaman(D)
TX:Hutchison(R)
VA:Webb(D)
WI:Kohl(D)
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Page last updated: Sep 06, 2017