Even Optimistic TPP Numbers Aren’t Much to Celebrate
TEAMSTER.ORG | The U.S. International Trade Commission (USITC) is tasked with reporting on the economic benefits of proposed trade deals. Traditionally, the agency has served as big boosters of such agreements, touting gains that never materialize. But late yesterday, when it released its evaluation of the Trans-Pacific Partnership, even the USITC could only put so much lipstick on this pig of a pact.
Instead of an improvement in the nation’s trade deficit, it predicted the opposite. And it predicted losses in 16 of 25 U.S. economic sectors, making it clear that if the 12-nation Pacific Rim agreement ever gets through Congress, it will be a disaster for many in the workforce. In total, it estimates 0.15 percent growth in the nation’s GDP over the next 15 years as well as 0.07 percent growth in American jobs during the same period.
That’s just not going to get it done. Teamsters General President Jim Hoffa said the Commission’s findings only give further credence to the union’s belief that the TPP is a lousy deal for the country’s workers.
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