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Michael Froman is bullish about the American economy. Of course, that’s part of his public job description—as the U.S. Trade Representative, he’s responsible for negotiating trade standards with other countries and making sure that American companies can compete in the global economy. But at the Washington Ideas Forum on Wednesday, he argued that the United States is in a strong position to set trading standards with China.
“The U.S is among the most open economies for trade and investment in the world,” he said. “Our tariff rates are very low, at 3.5 percent, when a lot of the emerging economies have much higher rates than that.”
We were really glad to hear James Fallows focus so many of his questions on manufacturing jobs. We hope Froman and President Obama are listening to the concerns of a large (and growing) bipartisan group of legislators in both chambers who have major concerns about the TPP —- especially when it comes to Japan’s currency manipulation.