Hillary Clinton criticizes Trans-Pacific trade pact
Hillary Clinton, the US Democratic Presidential candidate, has raised her voice against the 12 nation Trans-Pacific Partnership (TPP). Clinton said the agreement is not enough to keep tabs on currency manipulation or protecting consumers from high drug prices.
After a series of prolonged negotiations, the US and 11 countries from Pacific Rim reached a consensus on TPP on Monday. The TPP agreement aims at relaxing the trade among 12 nations, which account for 40 percent of the global economy.
The TPP, when implemented, will be considered as a major achievement for Barack Obama.
Interestingly, Hillary Clinton supported the trade pact when she was Secretary of State during Obama's first term. The US President Barack Obama has strategized TPP with an objective of checking Asian economy more particularly China.
Hillary Clinton said, "The bar here is very high and based on what I have seen. I don't believe the agreement has met it. I don't believe we can afford to keep giving new agreements the benefit of the doubt. The risks are too high that despite our best efforts, they will end up doing more harm than good."
The latest opposition to the TPP from Hillary Clinton would get her support from labor groups, unions and liberal Democrats. Some Democrats are against the TPP deal and it would cost jobs in manufacturing sector and impact the stringent US environment rules and regulations.
Hillary Clinton further criticizes that the TPP agreement doesn't create new jobs, raise wages and ensure national security. She also expressed her concerns about potential currency manipulations. The TPP deal will benefit only pharmaceutical companies at the cost of patients.
Hillary Clinton seems to prefer maintaining distance from the major administration policies. Clinton's lead position among Democratic voters is diminishing in the wake of a controversy that she used a private e-mail server during her tenure as Secretary of State.
There's also much speculation that Vice President Joe Biden entering the race for President.
Hillary Clinton in her speech in Australia in 2012 said the trade agreement would bring economies from Chile to Canada to Japan as it sets a golden standard in trade deals to open, free, fair trade. Now, the latest campaign of Clinton is totally different.
Hillary Clinton also maintained distance from other Obama's key decisions such as Keystone XL pipeline, the no-fly zone over Syria and a plan to expand Obamacare, a health care reform exercise of Barack Obama.
Political observers feel that all these efforts of Hillary Clinton to make her differentiate from Joe Biden. If Biden enters the race, he is forced to defend the administration on several major decisions.