Business

Obama, Abe Putting Joint Face on Trade Amid Opposition in US

Published

9 years ago

April 28, 2015

President Barack Obama hosts a state arrival ceremony for Japanese Prime Minister Shinzo Abe, Tuesday, April 28, 2015, on the South Lawn of the White House in Washington. (AP Photo/Jacquelyn Martin)

(Associated Press) – Eager to build on the U.S.-Japan alliance, President Obama and Japanese Prime Minister Shinzo Abe will work to strengthen economic ties while confronting stiff resistance from Obama’s own political party to a massive new Pacific Rim trade deal.

Trade is one of the top agenda items for Abe’s state visit to the U.S. as the two countries work toward a 12-nation Trans-Pacific Partnership agreement that would further open vast Asian and Pacific rim markets to U.S. exports.

Abe’s visit comes as Obama’s negotiators work to complete the trade agreement, and as Obama seeks authority from Congress to put the deal, once it’s completed, on a fast track to approval later this year. Obama is pressing for the trade agreement and the negotiating authority against mounting pressure from liberals and labor unions who fear trade agreements can cost American jobs.

The U.S. and Japan are the agreement’s biggest participants and the talks between the two countries would go far in advancing the broader negotiations. But while Obama and Abe won’t be ready to announce a trade breakthrough, officials on both sides say they will likely declare they have made considerable progress in closing remaining gaps. The toughest sticking points are U.S. tariffs on Japanese pickup trucks and barriers in Japan on certain U.S. agricultural products.

Ahead of Tuesday’s meeting and the pomp and circumstance of a state visit, Obama took Abe to the Lincoln Memorial Monday afternoon. Obama played tour guide, leading the Japanese leader up the steps into the memorial where they examined the Gettysburg Address sketched into the marble walls.

Also on Monday, Japanese and U.S. foreign and defense ministers meeting in New York approved revisions to the U.S.-Japan defense guidelines. The new rules boost Japan’s military capability amid growing Chinese assertiveness in disputed areas in the East and South China Sea claimed by Beijing. The changes, which strengthen Japan’s role in missile defense, mine sweeping and ship inspections, are the first revisions in 18 years to the rules that govern U.S.-Japan defense cooperation.

Indeed, China’s economic and military footprint serves as a major backdrop for Abe’s visit.

Obama has undertaken an effort to rebalance the U.S. role in Asia and has argued time and again that without a trade agreement with Asian countries, China will step into the breach.

“If we don’t write the rules, China will write the rules out in that region,” Obama said in an interview with The Wall Street Journal. “We will be shut out — American businesses, American agriculture. That will mean a loss of U.S. jobs.”

Abe is sure to get a flavor of the opposition Obama confronts from Democrats and from the political left. He will address a joint meeting of Congress on Wednesday, and a coalition of trade deal critics plan to place a giant Trojan Horse, symbolizing the fast-track authority Obama seeks, well within view of his motorcade.

Likewise, Republican supporters of the trade deal were applying pressure on Abe. In an opinion piece in The Washington Post, House Ways and Means Committee Chairman Paul Ryan urged Abe to stand up to the Japanese farms and auto lobbies in favor of more open trade.

Educated at the University of Southern California, Abe will be the first Japanese leader to address both houses of Congress. He intends to deliver his remarks in English.

Abe’s visit comes on the 70th anniversary of the end of World War II and has already prompted demands that he use his trip to address the use of sex slaves by the Imperial Army during the war. The issue has been a major irritant with South Korea, which has demanded an apology from Abe.

Nothing seemed to underscore the reconciliation between the countries more than the agreement to boost the U.S.-Japan defense relationship, which would allow Japan to play a bigger role in global military operations with an eye on potential threats from China and North Korea.

Secretary of State John Kerry said the shift marks a historic transformation in the post-WWII relationship between Tokyo and Washington that recognizes the “evolving risks and dangers both in Asia-Pacific and across the globe.”

Japanese Foreign Minister Fumio Kishida agreed, saying “the security situation around Japan is becoming more harsh and difficult.”

The revisions come with a renewed pledge of the U.S. position that the Senkaku Islands — a group of small, uninhabited islands in the East China Sea — fall under Japanese administration and are within the scope of the U.S.-Japan mutual defense treaty. China also claims the islands, which Beijing calls Diaoyu.

China on Tuesday reiterated its claim on the islands.

“No matter what anybody says or does, the fact won’t change that the Diaoyu Islands belong to China,” Chinese Foreign Ministry spokesman Hong Lei said. “The Chinese government will firmly defend the country’s territorial sovereignty and integrity.”

In his interview Monday, Obama tried not to portray the U.S. as an antagonist to China but said, “We don’t want China to use its size to muscle other countries in the region around rules that disadvantage us.”

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Oakland Post: Week of April 24 – 30, 2024

The printed Weekly Edition of the Oakland Post: Week of April 24 – 30, 2024

Published

7 days ago

April 26, 2024

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State Controller Malia Cohen Keynote Speaker at S.F. Wealth Conference

California State Controller Malia Cohen delivered the keynote speech to over 50 business women at the Black Wealth Brunch held on March 28 at the War Memorial and Performing Arts Center at 301 Van Ness Ave. in San Francisco. The Enterprising Women Networking SF Chapter of the American Business Women’s Association (ABWA) hosted the Green Room event to launch its platform designed to close the racial wealth gap in Black and Brown communities.

Published

2 weeks ago

April 20, 2024

Oakland Post

American Business Women’s Association Vice President Velma Landers, left, with California State Controller Malia Cohen (center), and ABWA President LaRonda Smith at the Enterprising Women Networking SF Chapter of the ABWA at the Black Wealth Brunch.

By Carla Thomas

The Enterprising Women Networking SF Chapter of the American Business Women’s Association (ABWA) hosted the Green Room event to launch its platform designed to close the racial wealth gap in Black and Brown communities.

“Our goal is to educate Black and Brown families in the masses about financial wellness, wealth building, and how to protect and preserve wealth,” said ABWA San Francisco Chapter President LaRonda Smith.

ABWA’s mission is to bring together businesswomen of diverse occupations and provide opportunities for them to help themselves and others grow personally and professionally through leadership, education, networking support, and national recognition.

“This day is about recognizing influential women, hearing from an accomplished woman as our keynote speaker and allowing women to come together as powerful people,” said ABWA SF Chapter Vice President Velma Landers.

More than 60 attendees dined on the culinary delights of Chef Sharon Lee of The Spot catering, which included a full soul food brunch of skewered shrimp, chicken, blackened salmon, and mac and cheese.

Cohen discussed the many economic disparities women and people of color face. From pay equity to financial literacy, Cohen shared not only statistics, but was excited about a new solution in motion which entailed partnering with Californians for Financial Education.

“I want everyone to reach their full potential,” she said. “Just a few weeks ago in Sacramento, I partnered with an organization, Californians for Financial Education.

“We gathered 990 signatures and submitted it to the [California] Secretary of State to get an initiative on the ballot that guarantees personal finance courses for every public school kid in the state of California.

“Every California student deserves an equal opportunity to learn about filing taxes, interest rates, budgets, and understanding the impact of credit scores. The way we begin to do that is to teach it,” Cohen said.

By equipping students with information, Cohen hopes to close the financial wealth gap, and give everyone an opportunity to reach their full financial potential. “They have to first be equipped with the information and education is the key. Then all we need are opportunities to step into spaces and places of power.”

Cohen went on to share that in her own upbringing, she was not guided on financial principles that could jump start her finances. “Communities of color don’t have the same information and I don’t know about you, but I did not grow up listening to my parents discussing their assets, their investments, and diversifying their portfolio. This is the kind of nomenclature and language we are trying to introduce to our future generations so we can pivot from a life of poverty so we can pivot away and never return to poverty.”

Cohen urged audience members to pass the initiative on the November 2024 ballot.

“When we come together as women, uplift women, and support women, we all win. By networking and learning together, we can continue to build generational wealth,” said Landers. “Passing a powerful initiative will ensure the next generation of California students will be empowered to make more informed financial decisions, decisions that will last them a lifetime.”

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Black Business Summit Focuses on Equity, Access and Data

The California African American Chamber of Commerce hosted its second annual “State of the California African American Economy Summit,” with the aim of bolstering Black economic influence through education and fellowship. Held Jan. 24 to Jan. 25 at the Westin Los Angeles Airport Hotel, the convention brought together some of the most influential Black business leaders, policy makers and economic thinkers in the state. The discussions focused on a wide range of economic topics pertinent to California’s African American business community, including policy, government contracts, and equity, and more.

Published

2 weeks ago

April 20, 2024

Oakland Post

Toks Omishakin, Secretary of the California State Transportation Agency (CALSTA), answers questions from concerned entrepreneurs frustrated with a lack of follow-up from the state. January 24, 2024 at the Westin Los Angeles Airport Hotel, Lost Angeles, Calif. Photo by Solomon O. Smith

By Solomon O. Smith, California Black Media

The California African American Chamber of Commerce hosted its second annual “State of the California African American Economy Summit,” with the aim of bolstering Black economic influence through education and fellowship.

Held Jan. 24 to Jan. 25 at the Westin Los Angeles Airport Hotel, the convention brought together some of the most influential Black business leaders, policy makers and economic thinkers in the state. The discussions focused on a wide range of economic topics pertinent to California’s African American business community, including policy, government contracts, and equity, and more.

Toks Omishakin, Secretary of the California State Transportation Agency (CALSTA) was a guest at the event. He told attendees about his department’s efforts to increase access for Black business owners.

“One thing I’m taking away from this for sure is we’re going to have to do a better job of connecting through your chambers of all these opportunities of billions of dollars that are coming down the pike. I’m honestly disappointed that people don’t know, so we’ll do better,” said Omishakin.

Lueathel Seawood, the president of the African American Chamber of Commerce of San Joaquin County, expressed frustration with obtaining federal contracts for small businesses, and completing the process. She observed that once a small business was certified as DBE, a Disadvantaged Business Enterprises, there was little help getting to the next step.

Omishakin admitted there is more work to be done to help them complete the process and include them in upcoming projects. However, the high-speed rail system expansion by the California High-Speed Rail Authority has set a goal of 30% participation from small businesses — only 10 percent is set aside for DBE.

The importance of Diversity, Equity and Inclusion (DEI) in economics was reinforced during the “State of the California Economy” talk led by author and economist Julianne Malveaux, and Anthony Asadullah Samad, Executive Director of the Mervyn Dymally African American Political and Economic Institute (MDAAPEI) at California State University, Dominguez Hills.

Assaults on DEI disproportionately affect women of color and Black women, according to Malveaux. When asked what role the loss of DEI might serve in economics, she suggested a more sinister purpose.

“The genesis of all this is anti-blackness. So, your question about how this fits into the economy is economic exclusion, that essentially has been promoted as public policy,” said Malveaux.

The most anticipated speaker at the event was Janice Bryant Howroyd known affectionately to her peers as “JBH.” She is one of the first Black women to run and own a multi-billion-dollar company. Her company ActOne Group, is one of the largest, and most recognized, hiring, staffing and human resources firms in the world. She is the author of “Acting Up” and has a profile on Forbes.

Chairman of the board of directors of the California African American Chamber of Commerce, Timothy Alan Simon, a lawyer and the first Black Appointments Secretary in the Office of the Governor of California, moderated. They discussed the state of Black entrepreneurship in the country and Howroyd gave advice to other business owners.

“We look to inspire and educate,” said Howroyd. “Inspiration is great but when I’ve got people’s attention, I want to teach them something.”