June 12, 2015 Comments are off michaelwatson
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Obama At G7: ‘We Don’t Have a Complete Strategy’ for Combating ISIS

In the question-and-answer segment of a press conference on Monday following the G7 Summit in Germany, President Obama admitted that the United States doesn’t have “a complete strategy” to combat the growing threat posed by Islamic State fighters in Iraq.

While Obama kept jobs and economic growth at the forefront of his speech, reporters quickly changed the subject once the president opened the floor for questions, pressing him on the fight against ISIS.

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June 12, 2015 Comments are off michaelwatson
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Ex-Im Bank expiration ‘inevitable’ amid 2016 GOP fight

With the Senate’s schedule packed tight, and GOP presidential contenders battling over the bank, the agency is almost sure to close its doors.

The Export-Import Bank is almost certain to close its doors for the first time in history this summer, dragged down by presidential politics and a bitterly divided GOP — raising the question of whether the nation’s chief export credit agency will ever be revived.

Supporters are beginning to throw up their hands and admit that the agency is very likely to lose its charter after June 30, the first time since President Franklin D. Roosevelt established the agency in 1934 that it won’t be available to support U.S. exporters.

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June 12, 2015 Comments are off michaelwatson
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Trade: The experts go to war

We shouldn’t be fooled by U.S. Trade Rep. Michael Froman’s list of numbers, says a top economist.

In an interview with Politico this week, Ambassador Michael Froman stressed high import tariffs on American goods imposed by the 11 countries with which he is negotiating the Trans-Pacific Partnership (TPP). His implication is that the TPP will dramatically lower such tariffs, boosting US exports, significantly increasing the size of our economy, and helping most Americans.

That is not, however, what the best available projections about the deal suggest it would do, and Froman’s emphasis on tariffs – though it sounds like the heart of the issue – is a distraction from the bigger question we need to ask about the TPP.

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