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Kathy Hochul on Free Trade
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Impose tariffs against countries which manipulate currency.
Hochul signed Currency Reform for Fair Trade Act
- Amends the Tariff Act of 1930 to include as a `countervailable subsidy` requiring action under a countervailing duty or antidumping duty proceeding the benefit conferred on merchandise imported into the US from foreign countries with fundamentally undervalued currency.
- Defines `benefit conferred` as the difference between:
- the amount of currency provided by a foreign country in which the subject merchandise is produced; and
- the amount of currency such country would have provided if the real effective exchange rate of its currency were not fundamentally undervalued.
- Determines that the currency of a foreign country is fundamentally undervalued if for an 18-month period:
- the government of the country engages in protracted, large-scale intervention in one or more foreign exchange markets
- the country`s real effective exchange rate is undervalued by at least 5%
- the country has experienced significant and persistent global current account
surpluses; and
- the country`s government has foreign asset reserves exceeding the amount necessary to repay all its debt obligations.
[Explanatory note from Wikipedia.com `Exchange Rate`]:
Between 1994 and 2005, the Chinese yuan renminbi was pegged to the US dollar at RMB 8.28 to $1. Countries may gain an advantage in international trade if they manipulate the value of their currency by artificially keeping its value low. It is argued that China has succeeded in doing this over a long period of time. However, a 2005 appreciation of the Yuan by 22% was followed by a 39% increase in Chinese imports to the US. In 2010, other nations, including Japan & Brazil, attempted to devalue their currency in the hopes of subsidizing cheap exports and bolstering their ailing economies. A low exchange rate lowers the price of a country`s goods for consumers in other countries but raises the price of imported goods for consumers in the manipulating country.
Source: HR.639&S.328 11-HR0639 on Feb 14, 2011
Require open markets for US goods in all trade agreements.
Hochul signed Reciprocal Market Access Act
Reciprocal Market Access Act of 2011: Prohibits the President from agreeing to the reduction or elimination of the existing rate of duty on any product in order to carry out a foreign trade agreement until the President certifies to Congress that the US has obtained the reduction or elimination of tariff and nontariff barriers and policies and practices of such foreign country with respect to US exports of any product that has the same physical characteristics and uses as the product for which the President seeks to modify its rate of duty.
Congress finds the following: - One of the fundamental tenets of the World Trade Organization (WTO) is reciprocal market access.
- The American people have a right to expect that the promises that trade negotiators and policy makers offer in terms of the market access opportunities that will be available to United States businesses and their employees if trade agreements are reached, will, in fact, be realized.
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With each subsequent round of bilateral, regional, and multilateral trade negotiations, tariffs have been significantly reduced or eliminated for many manufactured goods, leaving nontariff barriers as the most pervasive, significant, and challenging barriers to US exports and market opportunities
- The US market is widely recognized as one of the most open markets in the world.
- Often the only leverage the US has to obtain the reduction or elimination of nontariff barriers imposed by foreign countries is to negotiate the amount of tariffs the US imposes on imports from those foreign countries.
- The purpose of this Act is to require that trade negotiations achieve measurable results for US businesses by ensuring that trade agreements result in expanded market access for United States exports and not solely the elimination of tariffs on goods imported into the US.
Source: H.R.1749 11-HR1749 on May 5, 2011
Rated 25% by the USAE, indicating support for trade sanctions.
Hochul scores 25% by USA*Engage on trade issues
Ratings by USA*Engage indicate support for trade engagement or trade sanctions. The organization`s self-description: `USA*Engage is concerned about the proliferation of unilateral foreign policy sanctions at the federal, state and local level. Despite the fact that broad trade-based unilateral sanctions rarely achieve our foreign policy goals, they continue to have political appeal. Unilateral sanctions give the impression that the United States is `doing something,` while American workers, farmers and businesses absorb the costs.`
USA*Engage at Work- Developing the Case: USA*Engage explains the benefits of economic engagement, and the high cost of sanctions for American exports, investment and jobs.
- Education: We recruit respected foreign policy and economic experts to speak out against sanctions, actively engage the media and provide outreach to key target states and Congressional districts.
- Contacting Government Officials: USA*Engage directly contacts Congressional, Administration, state and local officials.
VoteMatch scoring for the USA*Engage ratings is as follows :
- 0%-49%: supports trade sanctions;
- 50%-74%: mixed record on trade engagement;
- 75%-100%: supports trade engagement.
Source: USA*Engage 2011-2012 ratings on Congress and politicians 2012-USAE on Dec 31, 2012
- Click here for definitions & background information
on Free Trade.
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of Kathy Hochul.
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of Kathy Hochul.
- Click here for a Ballotpedia profile
of Kathy Hochul.
- Click here for VoteMatch responses
by Kathy Hochul.
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other NY politicians.
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NY primary archives.
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NY secondary archives.
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Other governors on Free Trade: |
Kathy Hochul on other issues: |
[Title7]
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Gubernatorial Debates 2021:
CA Recall:
S.D.Mayor Kevin_Faulconer(R)
vs.Former Gov. nominee John Cox(R)
vs.Former U.S.Rep Doug Ose(R)
vs.Laura Smith(R)
vs.Former Olympian Caitlyn Jenner(R)
vs.Radio Host Larry Elder(R)
vs.Kevin Paffrath(D)
vs. Gavin Newsom(D)
NJ:
Incumbent Phil Murphy(D)
vs.State Rep. Jack Ciattarelli(R)
vs.Candidate Hirsh Singh(R)
vs.GOP Chair Doug Steinhardt(R)
VA:
Incumbent Ralph Northam(D,term-limited)
vs.Former Governor Terry McAuliffe(D)
vs.CEO Glenn Youngkin(R)
vs.A.G. Mark Herring(D)
vs.State Sen. Amanda Chase(I)
vs.Lt. Gov. Justin Fairfax(D)
vs.State Rep. Jennifer Carroll Foy(D)
vs.State Rep. Lee Carter(D)
vs.State Sen. Jennifer McClellan(D)
vs.State Rep. Kirk Cox(R)
vs.CEO Pete Snyder(R)
Gubernatorial Debates 2023:
KY:
Incumbent Andy Beshear(D)
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vs.Ambassador Kelly Craft(R)
vs.State Auditor Mike Harmon(R)
LA:
Incumbent John Bel Edwards(D,term-limited)
vs.Biden Adviser Cedric Richmond(? D)
vs.Senator John Neely Kennedy(? R)
vs.Mitch Landrieu(D ?)
MS:
Incumbent Tate Reeves(R)
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Gubernatorial Debates 2022:
AK:
Incumbent Mike Dunleavy(R)
vs.Bill Walker(I)
vs.Les Gara(D)
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AL:
Incumbent Kay Ivey(R)
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AR:
Incumbent Asa Hutchinson(R,term-limited)
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Mayor Marco Lopez(D)
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CO:
Incumbent Jared Polis(D)
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Incumbent J.B. Pritzker(D)
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KS:
Incumbent Laura Kelly(D)
vs.Jeff Colyer(R)
vs.State Sen.Derek Schmidt(R)
vs.Chase LaPorte(R)
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Gubernatorial Debates 2022 (continued):
MA:
Incumbent Charlie Baker(R)
vs.Lt.Gov.Karyn Polito(R)
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ME:
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MI:
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NH:
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NM:
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NY:
Incumbent Andrew Cuomo(D,resigned)
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OH:
Incumbent Mike DeWine(R)
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OK:
Incumbent Kevin Stitt(R)
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OR:
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SD:
Incumbent Kristi Noem(R)
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TN:
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Incumbent Phil Scott(R)
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WI:
Incumbent Tony Evers(D)
vs.Tim Michels(R)
vs.CEO Jonathan Wichmann(R)
vs.Rebecca Kleefisch(R)
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WY:
Incumbent Mark Gordon(R)
vs.Theresa Livingstone(D)
vs.Rex Rammell(R)
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