U.S. national debt, they leave in place an American liability that prevents trade adjustment.
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For example, the free trade agreements, which have passed and the President signed, including -- as well as Trade Adjustment Assistance.
Alternative trade adjustment assistance (ATAA) or reemployment trade adjustment assistance (RTAA) payments.
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Trade adjustment assistance can help to retrain workers who lose their jobs.
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He threatened to veto trade adjustment assistance for displaced workers.
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The next step is to nail down the remaining specifics on a bipartisan, bicameral agreement to move forward with all three agreements and with TAA, trade adjustment assistance, in a timely fashion.
The Trade Adjustment Assistance Act is the principal programme for compensating those displaced by trade, but its outlays are a rounding error compared to the money spent on disability and health insurance compensation.
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These trade agreements, along with bipartisan agreement on the Trade Adjustment Assistance program, represent a balanced approach to trade that not only opens up new opportunities for U.S. businesses but also provides support for American workers whose jobs have been affected by global competition.
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Budget constraints are pushing Congress in the opposite direction: trade-adjustment assistance, a long-standing scheme to help those deemed to have lost their jobs to globalisation, expired recently.
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Moreover, abandoning the gold standard in favor of free floating currencies was supposed to eliminate currency crises and lead to an automatic adjustment in trade imbalances.
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But countries nearly always resort to anti-dumping instead, suggesting that their real aim is not to ease the adjustment to freer trade but to bring back protection by the back door.
Japan and China will be guilty of trying to block market forces and hence an earlier adjustment in America's trade deficit.
Fred Bergsten of the Institute of International Economics argues that the problems of adjustment - and the huge trade imbalance - will generate growing protectionist pressures in the US and Europe, undermining support for free trade.
More broadly, in the United States, for example, the dollar made artificially expensive by capital inflows related in part to its reserve currency status has prevented the exchange rate adjustment needed to balance our trade in goods and services.
In any case, fixing trade imbalances is not a simple matter of currency adjustment.
There has been a real change in the way you have to trade technically, and it has been a hard adjustment for many people, including myself.
Since rising imports lead to rising exports and rising exports lead to rising imports, most of the adjustment or balancing takes place within the trade accounts trade in goods and services.
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