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John Hickenlooper on Free Trade
Democratic Presidential Challenger (withdrew, Aug. 2019); CO Governor
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No trade war in history ever had a winner
You talk to any economist, there is not a single example in history where a trade war had a winner. Trade wars are for losers. And the bottom line is we've got to recognize, let's negotiate a better trade deal. You're not going to win against
China in a trade war when they've got 25% of our total debt. We're paying in tariffs about $800 to $1,200 per household and then we give this incredible tax cut to the rich. Tariffs are not the solution.
Source: July Democratic Primary debate (first night in Detroit)
, Jul 30, 2019
Fair & open trade makes us safer and more prosperous
Not all, but many of the other Democrats feel that we should back away from fair and open trade. And I believe that only through constant engagement and building up that trade are we going to get to full security.
I think as we revive U.S. leadership. we're able to not only make our country safer, we're going to be able to be more prosperous at the same time.
Source: ABC This Week 2019 interview of presidential hopefuls
, May 19, 2019
No tariffs on goods from China and Europe
- Economy: Free trader, opposes Trump administration's tariffs.
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Hickenlooper supports pro-business policies and free trade. He opposes President Donald Trump's trade policy and tariffs on goods from China and the European Union.
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As a business owner he helped revitalize downtown Denver and as mayor backed a multibillion dollar public transportation initiative, including 119 miles of commuter train track that connects the metro area and suburbs.
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As governor, Hickenlooper oversaw a booming Colorado economy that was one of the strongest in the country when he left office in 2018.
Source: PBS News hour on 2020 Presidential hopefuls
, Mar 4, 2019
Supports USMCA trade agreement to replace NAFTA
The USMCA is a new trade pact among the United States, Mexico and Canada, intended as a stronger and modernized replacement for the North American Free Trade Agreement (NAFTA).
Gov. John Hickenlooper (D-CO): "Let's hope all 3 countries can move ahead with the new trade agreement with certainty, with protections for Colorado farmers, workers and businesses."
Source: White House press release in 2020 presidential hopefuls
, Oct 2, 2018
Reauthorize the Ex-Im Bank.
Hickenlooper signed Letter on Ex-Im Bank
Press release on Letter from 31 Governors to House Republican leaders:
We urge you to reauthorize the Export-Import Bank (Ex-Im) before its charter expires this year. In its role as the official export credit agency, Ex-Im is a vital export finance tool for exporters in our states, at no cost to American taxpayers.
Ex-Im allows our companies and workers to compete on a level playing field against our competitors. Without Ex-Im financing, US firms would have lost many sales campaigns to their overseas competitors.
Reauthorizing Ex-Im is the right thing to do for our economy, companies and workers. 41 GOP lawmakers and 865 business organizations have called for the charter's immediate renewal. And, House Democrats have already introduced legislation to reauthorize the bank. Speaker Boehner, it's time to act; quit jeopardizing the nation's economy and American jobs.
Argument in opposition from FreedomWorks:
Top Ten Reasons to Let the
Export-Import Bank Expire- It Has Outlived Its Purpose: In the 2010s, US exports have been setting record highs--they don't need government help.
- It Lets Government Pick Winners and Losers
- Its Risky Loans Put it in Danger of Needing Taxpayer Bailouts
- It Costs Taxpayers Money Annually, thanks to government accounting gimmicks
- Most of Its Funding Goes to Big Corporations Who Don't Need the Money
- It Lets Foreign Corporations Undercut US Competitors
- It Only Benefits a Few States, but Every State Bears the Costs
- It Is Prone to Corruption (like whenever you involve the government in handing out money)
- There Are Better Ways to Help US. Manufacturers: the government should lower and simplify the tax and regulatory burden US companies face.
- It Is Unnecessary. The Ex-Im Bank cannot justify its continued existence. It's also one of the easiest programs to retire, as its authorization expires in September 2014 if Congress simply does nothing.
Source: Letter from 31 Governors 14_Lt_ExIm on Jul 15, 2014
Support long-term reauthorization of the Export-Import Bank.
Hickenlooper signed Letter from 26 Governors to Congressional leadership
As governors of states whose economies and workforces depend on exports, we strongly urge Congress to support legislation that provides for the long-term reauthorization of the U.S. Export-Import Bank (Ex-Im Bank) before its charter expires on June 30, 2015. The Ex-Im Bank is a crucial tool that both small and large businesses use to compete fairly in the world market, increase their exports, stimulate job creation, and contribute to the growth of our states' economies.
As the official export credit agency of the United States, the Ex-Im Bank assumes the credit and country risks that private sector lenders are unable or unwilling to accept, and without it, U.S. firms would lose many sales to overseas competitors. The Ex-Im Bank allows our companies and workers to compete on a level playing field against international competitors who receive extensive support from their own export credit agencies.
In 2014, the Ex-Im Bank supplied more than $20 billion in financing to support approximately $27 billion in exports. In that same fiscal year, the Ex-Im Bank supported more than 160,000 American jobs. And the overwhelming majority of the Ex-Im Bank's transactions--nearly 90 percent--assisted small businesses.
The Ex-Im Bank is financially self-sustaining, and operates at no cost to hard-working American taxpayers. In fact, in fiscal year 2014 alone, the Ex-Im Bank returned approximately $675 million in deficit-reducing receipts to the U.S. Treasury.
Last year, Congress reauthorized the Ex-Im Bank [for one year]. It is essential that both chambers act again, this time to pass a long-term, multi-year reauthorization.
Source: Letter from 26 Governors to Congressional leadership 18LTR-EXIM on Apr 14, 2015
Page last updated: Dec 25, 2021