Pat Toomey (R – PA), who has two years left to serve in his second term in the US Senate, announced last week that he will not run for re-election in 2022. He is retiring from politics. Toomey has distinguished himself recently as an advocate for free global trade, and specifically as an opponent of the “US Mexico Canada Agreement” on trade, which he believed was a backward step from NAFTA.
Toomey, a one-time Eagle Scout, is the most prominent Republican office holder in Pennsylvania, a key battleground state in the upcoming election. He is a conservative, and a supporter of President Trump in most matters (excepting trade).
After a period on Wall Street as a currency trader in the late ‘eighties, Toomey moved to Allentown, Pennsylvania in 1991 to open a restaurant. The appeal of running that establishment did not hold him long. He was elected to his first public office, in Allentown, in 1994, ascended to the US House of Representatives in 1998, and moved on to the Senate twelve years later.
The Thing to Know:
Toomey has said that “the trade deficit is mostly meaningless,” and that measures designed to lessen the trade deficit by limiting imports to the US [such as the move to USMCA from NAFTA] are misguided.