I think most of us realize by now what a bad deal these trade agreements are. This study proves that our suspicions are correct. More important, the agreement gives multinational corporations the ability to override a country's environmental laws. What could possibly go wrong?
The verdict is in: most U.S. workers would see wage losses as a result of theTrans-Pacific Partnership (TPP), a sweeping U.S. "free trade" deal under negotiation with 11 Pacific Rim countries. That's the conclusion of a reportjust released by the non-partisan Center for Economic and Policy Research (CEPR).
TPP's corporate proponents have tried to sell the NAFTA-style deal to the U.S. public and policymakers by claiming that it will result in gains for the U.S. economy. They often cite a study from the Peterson Institute for International Economics that used sweeping assumptions to project a tiny benefit from the TPP. We brought that study down to size back in January, showing that, even if one accepts the pro-TPP authors' litany of optimistic assumptions, the much-touted "benefit" from the TPP would amount to an extra quarter per person per day.
As this week's CEPR report points out, the pro-TPP study projected a meager 0.13 percent increase to U.S. gross domestic product (GDP) by 2025 if thecontroversial TPP would be signed, passed, and implemented.