WH Announces $10B in Trade Deals With India

[deacon]

Source: ABC

President Barack Obama is announcing $10 billion in trade deals with India that are expected to help pay for 54,000 U.S. jobs.

He's also unveiling new export rules to make it easier for U.S. companies to do business with the nation of 1.2 billion people. Some of the changes, including relaxing controls on India's purchase of so-called "dual use" technologies that could be used for civilian or military purposes, have been top priorities for the business community.



Read more: http://abcnews.go.com/US/wireStory?id=12068854

[groundloop]

1. From what I've read this makes good sense....

I know that the banned "dual use technology" list included a lot of stuff that was bs. For example temperature controllers were banned from being sold, that's ridiculous. This looks to be a good move.

[artofnoise]

2. Yes Sir!

Actions bellows louder than words.

[thereismore]

3. That barely covers the cost of his trip.

:crazy:

[young but wise]

4. LOL

[activa8tr]

11. Glenn Beck told you that, didn't he? Two billion dollars, I think Glenn said and

everybody knows Glenn tells the truth all the time!

LOL

[CatWoman]

14. rofl!!

[lobodons]

5. Hey Bachman, how is YOUR creating jobs thing going!!??

OBAMA 54,000

Bachman 0

[Lasher]

6. "Officials said the deals would support 53,670 U.S. jobs

but it was not clear how many, if any, new jobs would be created as a result."

I can't be sure just exactly what this means. New or existing jobs? Fully or partially support? I bought a six pack of Budweiser yesterday and the deal supported 30,849 jobs.

With 250 US CEOs along for the ride, it's hard to imagine there's not a single one of them looking for opportunities to offshore more US jobs. I don't believe yet another trade deal with India is going to be good for the US middle class.

And that's not the worst of it. When Obama gets to South Korea, you can be sure he'll pimp a new free trade agreement with them.

[JDPriestly]

7. 250 CEOs. Those are not Obama's friends. Those are not our friends.

Doesn't the President realize that? Where did he say those jobs would be created? On our side of the ocean or on India's? So far trade deals have only resulted in that sucking noise -- out of our country.

This is bad, bad, bad, bad news. No, thanks, Mr. President.

[Populist_Prole]

8. I'm with the 2 above. This is just the same old same old

Birthday greetings all, since according to the media and economic academia we were all born yesterday.

For all the hype and cheerful sounding spin, this trade deal ( like every one before and every one to come ) is NOT about markets for our products ( services ) or supporting ( let alone creating ) employment in the US. It is labor arbitrage pure and simple, and it will further erode the employment situation here. Of course, when it happens, and when we point it out, the cheerful sanguineity will turn to a more harsh "tough sh--, it's a global economy....." meme. To be able to pull it off again, they just need another several million people born yesterday ( and short attention spans and focus on small potatoes will allow this ) and a president trying to appear to be less anti-business in an effort to assuage the corporate media.

We're cooked. I have NO optimism.

[Skittles]

13. there will be lots of jobs created, but they'll all be in India

[OhioChick]

16. You're absolutely right, Skittles. n/t

[Lasher]

17. I read elsewhere that most of the 50K jobs would be with Boeing.

But this is a drop in the bucket and we are left to wonder how many of those jobs will be outsourced.

[South End Liberal]

9. Well, it appears 1/2 of the trade deals = 6th biggest arms deal in US history

I saw this article at businessinsider.com:

The Real Reason For Obama's Trip To India: The Sixth Biggest Arms Deal In U.S. History

President Obama is traveling to India this weekend to make a $5 billion sale for 10 of Boeing's C-17 cargo planes. If India signs the contract, this would be the sixth biggest arms deal in U.S. history.



So, our country is reduced to being a military arms exporter?

[jpak]

10. But...but...but... he spent $2 billion on this trip!!11

oh wait

he didn't

nevermind

[disndat]

12. I think the deal is

the India sells soft goods to the U.S. and we sell them hard goods not manufactured in India. India has cheaper labor than China.

[RDANGELO]

15. There are good trade deals and bad trade deals.

I will wait to see what people like Bernie Sanders and Sherod Brown have to say about it.