Killing TPP is bad news for Americans, but great for China
In an op-ed for CNN, international finance expert Jeffrey Bergstrand discusses President Trump's decision to withdraw from the Trans Pacific Partnership.
- Published
It's now clear that the election of Donald Trump will dramatically alter the shape of the world's economy for the foreseeable future. But based on his executive action to withdraw from the negotiating process of the Trans-Pacific Partnership (TPP), this reshaping will not be for the benefit of US workers and citizens.
Rather, the bulk of American workers, consumers and businesses likely will be hurt by the unfolding of US trade policies under President Trump.
Today's action means that TPP is dead. Without ratification by the US Congress, it dies. Some workers' high-paying jobs in the US will be saved.
However, based upon sound estimates from the two most respected economic analyses of TPP -- the Petri-Plummer study from the Peterson Institute in Washington, DC, and the US International Trade Commission study -- the vast bulk of workers, businesses, and consumers in the US will lose out on this.
Read the entire story on the CNN website.
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