trade agreements

Trade Agreement is Great -- For China

You can expect Robin Hayes to be crowing tomorrow about a trade agreement with China that his office helped write. The deal limits the increase each year that China's textile exports to the US can increase. The good Representative's been involved in the negotiations because his district—North Carolina's 8th—has been hard hit by textile competition from China.

Here's what Hayes won't tell you: The trade agreement gives much more to China than it saves for North Carolina.

China entered the WTO under an understanding that if there were to be a supply spike, other WTO members could cap the growth of imports from China at 7.5% per year. Well, right now there's a supply spike. But the new trade agreement is an even worse deal for North Carolina workers than the already-agreed-on 7.5% cap.

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