John Delaney on Free Trade Democratic candidate for President; U.S. Rep from MD-6

Obama was right on supporting Trans-Pacific Partnership

We missed opportunity; rejoin CPTPP (Pacific Trade 2.0)

TWO CANDIDATES HAVE SIMILAR VIEWS: Joseph Biden, Jr.; John Hickenlooper.

Some free-trade-oriented Democrats have called for rejoining the Trans-Pacific Partnership in its updated form, the CPTPP. Former Rep. John Delaney has said he mentions the trade deal often on the campaign trail and that he feels not joining it was a "missed opportunity."

Supports the Trans-Pacific Partnership

• Delaney has criticized China for intellectual property theft and supports building a global alliance to pressure China to open its markets.
• He commended the president for taking China seriously as a global threat, but opposes the administration's tariffs, which Delaney argues hurt American farmers and curtail job growth.
• While in Congress, Delaney was one of a few Democrats who supported the Trans-Pacific Partnership, and he is interested in revisiting the trade deal.

Supports trade but government must help those it has hurt

$25B more loans from Export-Import Bank.

This bill raises the cap on outstanding loans, guarantees, and insurance of the Export-Import Bank of the United States for FY2015-FY2022 and afterwards. The Bank shall:

• Provide technical assistance to small businesses on how to apply for financial assistance from the Bank;
• Establish programs under which private financial institutions may share risk in the loans, guarantees, and other Bank products in exchange for receiving fees received from program participants.
• The Bank may enter into up to $25 billion worth of contracts of reinsurance, co-finance, or other risk-sharing arrangements on its portfolio or individual transactions with insurance companies, financial institutions, or export credit agencies.

Opponents reasons for voting NAY: (Washington Examiner, 12/2/12): The Export-Import Bank is a taxpayer-backed agency that finances U.S. exports, primarily though loan guarantees. You'd think the bank would spread the money around to nurture up-and-coming businesses. You'd be wrong, very wrong. In fact, 83% of its taxpayer-backed loan guarantees in 2012 went to just one exporter: Boeing. Welcome to the "New Economic Patriotism," where the big get bigger and taxpayers bear the risk. Ex-Im is at the heart of Obama's National Export Initiative and is a pillar of the economic patriotism that Obama pledged in a second term. When government hands out more money, the guys with the best lobbyists and the closest ties to power will disproportionately get their hands on that money. Obama has spent four years pushing more subsidies, more bailouts and more regulations. "New Economic Patriotism" basically amounts to a national industrial policy -- Washington championing certain major domestic companies and industries, as if the global economy were an Olympic competition.