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Wednesday, March 09, 2016

Economic Policy Institute—with no provision on currency manipulation, TPP likely to cause bigger job-killing trade deficit for the U.S.:

The Trans-Pacific Partnership (TPP) agreement between the United States and 11 other Pacific Rim countries lacks an absolutely key component to keep it from doing potential damage to the U.S. economy. The missing piece of this trade and investment deal is a set of restrictions and/or enforceable penalties against member countries that engage in currency manipulation. Currency manipulation is one of the key driving forces behind the high and rapidly rising U.S. trade deficit with the 11 other members of the TPP. In 2015, the U.S. deficit with TPP countries translated into 2 million U.S. jobs lost, more than half (1.1 million) of which were in manufacturing. Without such provisions against currency manipulation, the TPP could well follow other trade agreements and leave even greater U.S. trade deficits in its wake.

http://feeds.dailykos.com/~r/dailykos/index/~3/HSUnt-5G-UY/-Midday-open-thread-Fossil-fuel-millionaires-feed-GOP-SuperPacs-TPP-will-feed-deeper-trade-deficits

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