The United States should seek to empower workers to take better jobs with adjustment assistance and training programs, but canceling TPP weakens the U.S. Moreover, the PIIE study shows that TPP-related job displacements would have been less than 0.1 percent of existing “job churn,” or temporary unemployment as workers go to other companies. According to PIIE models, the movement of workers to more competitive sectors would have increased real wages by 0.5 percent. USITC economist David Riker observes that jobs in these “export-intensive industries” pay more than other positions. However, USITC also projects that manufacturers of products the United States exports abroad, including passenger vehicles and apparel, would see employment gains. economy would have had 128,000 more total jobs by 2032. Even USITC models estimate that manufacturing employment would have been 0.2 percent smaller than it will be without TPP, although the U.S. Other TPP opponents argue that while the agreement’s overall effects would have been slightly positive, manufacturing workers would have suffered greatly by losing their jobs to foreign competition. annual real income by $57.3 billion (0.23 percent) and $131 billion (0.5 percent), respectively. International Trade Commission (USITC) and the Peterson Institute for International Economics (PIIE) estimated that TPP would have modestly increased U.S. Using more realistic assumptions, the U.S. The Tufts researchers therefore absurdly concluded that TPP would have reduced employment in every country in the world. However, many economists, including TPP skeptics, note that the study ignored the pact’s benefits, including lower consumer prices and job-generating foreign investment in U.S. jobs and reduce American economic growth. And the situation is about to get drastically worse if the Trans-Pacific Partnership is not stopped.” -Donald Trump, “ Disappearing Middle Class Needs Better Deal on Trade,” USA Today, March 14, 2016.Ĭritics of TPP cite a Tufts University study claiming the agreement would cut 448,000 U.S. Exiting the agreement was apparently based on five key assertions Trump made during the presidential campaign, none of which were accurate.ġ) “The number of jobs and amount of wealth and income the United States have given away in so short a time is staggering, likely unprecedented. withdrawal from the Trans-Pacific Partnership (TPP), a decision that was made with no serious analysis by the new administration of its significant economic and geopolitical benefits for the United States. President Donald Trump has recently reversed himself, endorsing Article 5 of the NATO Treaty and accurately calling the House of Representatives health care legislation “ mean.” He should also reconsider U.S.
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