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Trans-Pacific Partnership Trade Agreement- winners and losers
04/07/2011
A study by Prof. Petri of Brandeis University, shows economic output going up by 0.4% by 2025 or $77 billion for the U.S. as a result of the TPP agreement. Biologic drugs, with long term patent protection, software engineering services, high tech industry are the winners, losers are the Detroit auto industry facing higher imports, light manufacturing in textiles and paper, and some heavy manufacturing sectors. Douglas Irwin of Datmouth and other experts say it is not clear how much of the benefit will affect consumers and businesses in the U.S. Most of the tariff cut gains are already made and import duties as a percentage of total imports are down to 1.4% today. Experts say 4/5th of the benefits for the U.S. are not from tariff cuts but from new rules for trade in services, and new rules for investment and commerce. The agreement brings together Pacific area countries, including Canada, Australia, New Zealand, Chile, and Japan, Malaysia, Singapore and Vietnam. Agriculture is protected in Canada especially in Quebec, and in Japan, which means tough negotiations to open up this sector. Politically the TPP is a response by the U.S. and Japan to the Infrastructure Investment Bank set up by China with support from Europe and India.
Grouped Articles
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Utah Senator, Crucial Ally for the Pacific Rim Trade Deal, Is Now Its Main Hurdle
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Simmering for Decades, Anger About Trade Boils Over in ’16 Election
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The Trans-Pacific Partnership, Explained
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The New York Times 10.25.2016
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The White House’s claim that 800,000 manufacturing jobs were added during Obama’s presidency
Washington Post 12.09.2016
Our union celebrates TPP's death. Nafta must be the next trade deal to fall | Richard Trumka
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Trump Abandons Trans-Pacific Partnership, Obama’s Signature Trade Deal
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The America-Free Trans-Pacific Partnership Is a Done Deal
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