October 17th, 2016

The truth about trade

Economics & Politics

The debate over global trade and investment has played a central role throughout the 2016 campaign, as it did in the 1992 election. Back then, third-party candidate Ross Perot claimed that the proposed North American Free Trade Act with Canada and Mexico would cause a “giant sucking sound” of jobs out of the United States to low-wage Mexico. Now the debate is over two similar negotiations, the Trans-Pacific Partnership with Asian countries and the Trans-Atlantic Trade and Investment Partnership with Europe.

Both Hillary Clinton and Donald Trump have come out against the proposed trade agreements in their current form, as did Bernie Sanders. The Democratic Party platform emphasized opposition to key parts of the TPP. Yet President Barack Obama is now proposing to push TPP through the lame-duck session of Congress. The steadfastness of Clinton’s opposition to TPP has been doubted by foes of the trade agreement, remembering her support for it as recently as 2014, and also the speed at which Bill Clinton went from skepticism about NAFTA to becoming its champion after winning the 1992 election.

I am a believer in expanded international trade, but I am an opponent of TPP and TTIP.

Read the full article at The Boston Globe.

 

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