Tim Kaine on Free Trade Democratic Senate Challenger; previously Governor

Trump's Chinese tariffs are killing jobs

Tim Kaine (D): No. "They are killing jobs" & could "significantly put our infrastructure advancements at risk."

Corey Stewart (R): Yes. "What President Trump is doing [with the Chinese tariffs] is right on."

Global trade is a reality; need more good trade deals

Pass TPP and create true free trade for U.S.

Unfair Chinese trade practices are hurting American workers

When fairer trade conditions are restored, and US producers are on a level playing field, we can out-compete anyone. China shouldn't be allowed to play by its own rules.

Ex-Im Bank funding is not unnecessary corporate welfare

That support is in the form of loan guarantees and insurance so they could finance about $1 billion a year in exports from the state. Mind you, that's not money the bank shells out. It's just Ex-Im saying it will guarantee payment if the exporter or its bank get stiffed. Less than 0.3% of the sums Ex-Im Bank guarantees and insures is ever actually paid out. Ex-Im Bank funds its operations from the fees it charges customers, and has in fact raised $2 billion more than it has paid out.

NAFTA allowed the US to export more products to Mexico

Engage with people from other countries in global commerce

And it's not just about new business opportunities or foreign investment in our communities. Many long-time Virginia businesses, especially in the agricultural sector that still represents the largest part of our economy, are dependent on immigrant workers. We should not punish law-abiding businesses or hinder their ability to grow and create jobs.

Virginia began as an experiment in global trade

In the past year, we have made exciting job announcements in virtually every community in the Commonwealth. We've announced over $1 billion in investment and 5000 new jobs with good wages and benefits throughout Virginia--jobs created and filled using tools like the Governor's Opportunity Fund, Enterprise Zone Grants, workforce investments, and tobacco settlement funds.

We can bring more good jobs into Virginia and bolster our reputation for innovation. Together, we can bring a global research leader, SRI International, to the Shenandoah Valley. The partnership between SRI and James Madison University, initially focusing on cutting-edge pharmaceutical research, will create great jobs and complement our growing expertise in biomedical research.

Sponsored sugar quotas & import tariffs to stabilize prices.

Congressional Summary:Sugar Reform Act:

• Requires that sugar allotments be appropriate to maintain adequate supplies at reasonable prices, taking into account all domestic supply sources, including imports.
• Revises sugar tariff-rate quota adjustment provisions so that the ratio of sugar stocks to total sugar use at the end of the quota year will be approximately 15.5%
• Extends flexible marketing sugar allotment authority through crop year 2017
• Repeals the feedstock flexibility program for bioenergy producers.

Proponent's argument for bill:(Senators' opinions reported on politico.com) "We subsidize a handful of wealthy sugar growers at the expense of everybody in America," said Sen. Patrick Toomey (R-Pa.), whose home state boasts the chocolate giant, Hershey's. Sen. Heidi Heitkamp (D-N.D.), warned her colleagues against unraveling the commodity coalition behind the farm bill: "We forget that this is much bigger than a sugar program. It's much bigger than any one single commodity. When you single out one commodity, you threaten the effectiveness of the overall farm bill."

Opponent's argument against bill:(Food and Business News, May 2013): Users claim the sugar program nearly doubles the price of sugar to US consumers and has resulted in lost jobs as some candy manufacturers have moved operations to other countries. Producers claim the program has resulted in more stable sugar supplies, provides a safety net for growers and that world prices are often lower because of subsidies in origin countries, which would put US growers at a disadvantage should import restrictions be lifted. Producers also note that US sugar prices have declined more than 50% from late 2011 highs. They also maintain that jobs have been lost or moved out of the US for reasons other than sugar prices, mainly labor and health care costs, noting that candy makers' profits have been strong in recent years.

Fight Chinese predatory trade practices on car tires.

Excerpts from Letter from 31 Senators to the Secretary of Commerce: We are writing in strong support of the Department's decision to initiate antidumping and countervailing duty investigations of passenger vehicle and light truck tires from China.

China has targeted the tire sector for development and there are several hundred tire manufacturing facilities now operating in that country. In 2009, the United Steelworkers (USW) sought relief from a flood of similar tires from China that were injuring our producers and their workers.

Unfortunately, shortly after relief expired in 2012, imports of these tires from China once again skyrocketed. In June 2014, the USW alleged dumping and subsidies, identifying dumping margins as high as 87%. Our laws need to be fairly and faithfully enforced to ensure that workers can be confident that, when they work hard and play by the rules, their government will stand by their side to fight foreign predatory trade practices.

America's laws against unfair trade are a critical underpinning of our economic policies and economic prosperity. Given the chance, American workers can out-compete anyone. But, in the face of China's continual targeting of our manufacturing base, we need to enforce our laws.

Opposing argument: (Cato Institute, "Burning Rubber", Sept. 11, 2009) USW and the unions feel that they have earned the president's support. The president is presumed to owe Big Labor for his election last November. Will the president do what is overwhelmingly in the best interest of the country? Or will he do what he thinks is best for himself politically? The president should reject the recommendations of the USITC and deny import restrictions altogether. A decision to reject trade restraints in the tires case would be reassuring to a world that is struggling to grow out of recession. The costs of any protectionism under these circumstances could unleash a protectionist backlash in the US an

Voted FOR reauthorizing Ex-Im Bank.

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.

Congressional Summary from previous Ex-Im bill S.824; the Ex-Im Bank shall:
• Provide technical assistance to small businesses on how to apply for financial assistance;
• Establish programs under which private financial institutions may share risk in loans & guarantees.
• The Bank may enter into up to $25 billion worth of contracts of reinsurance or co-finance.

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.