Hillary Clinton Against TPP

U.S. Democratic presidential hopeful Hillary Clinton on Thursday introduced a plan to curb what she called Wall Street abuses, including a “risk fee” on the largest financial institutions and breaking up banks considered “too big to fail”.

But the White House doesn’t deny that Clinton’s new distance has sometimes created awkwardness for the president. While serving the Obama administration, she backed the pact calling it the “gold standard” for trade deals during her trip in Australia in 2012. But she does that by proposing a tweak to what is now in place, not a major overhaul like Sanders. The tax cut has been high on the agenda of teachers’ and other unions, whose members face paying the tax, at a time when Clinton has worked to secure their endorsement.

Mrs Clinton has been more firm on Syria.

“The president understands that presidential politics are tough”, Earnest said, adding that candidates often “distinguish themselves” against the current occupant of the Oval Office.

Biden and Clinton both ran against President Barack Obama in 2008 and served side-by-side in the first term of his administration.

“That’s a reversal!” former Maryland Gov. Martin O’Malley, a longtime opponent of the trade deal, said in a statement.

Clinton’s new stances are not minor disagreements over obscure policies, but diametrically opposed to significant parts of Obama’s legacy.

After months of hinting she might oppose the Trans-Pacific Partnership, Hillary Clinton made it official this week. She would also push for bank CEOs and other top executives to have more of their bonus money paid out over time. Trade agreements have historically boosted export and import flows between participating nations, leading to higher-paying jobs and improved living standards.

“What I know about it, as of today, I am not in favor of what I have learned about it …”

Mrs Clinton said she was “continuing to learn about the details of the new Trans-Pacific Partnership, including looking hard at what’s in there to crack down on currency manipulation, which kills American jobs, and to make sure we’re not putting the interests of drug companies ahead of patients and consumers”.

The margin between success and failure is believed to be about 10 votes, based on the results of a fast-track trade bill earlier this year.

“It allows her to cover several bases at once”, he said, noting her criticism of the provisions on pharmaceuticals.

She would also look into increasing the maximum penalties that can be levied by regulators such as the Securities and Exchange Commission and the Commodity Futures Trading Commission, according to the outline of her plan. Among Republicans, 53% said trade agreements had been good versus 35% who said they had been bad.

However, despite public condemnation and promises of tackling the sector, Clinton recently took hundreds of thousands at a fundraiser hosted by a trader who works in the industry.

The White House said it received a heads-up from Clinton’s campaign on her TPP position as it did with Keystone.

In a November 2007 presidential debate, Clinton described the North American agreement, with Canada and Mexico, as “a mistake” and called for a “trade timeout”.