Interestingly, TPP does not do very much for US exports either. By 2032, says the ITC, TPP will boost American exports to the other TPP partners by a piddling 0.2 percentage points of GDP.
Key points included in this report are,
- Ryan tells GOP members of House Obama has run out of legal time to force TPP ratification vote this year
- Froman hosts breakfast of TPP Ambassadors and says US will not reopen settled issues
- US gave up little in market-opening in return for the concessions it demanded of others; ITC says TPP will boost America’s global exports by just 0.2% of GDP
- US could have lifted imports five times as much if it further opened government procurement, but it could not do so because Congress would have rejected the pact
- Imagine the resentment of others at both the way the US negotiated and now the notion that it will talk away from a pact it virtually wrote
- American state losing ability to corral special interests to compromise for the broader national interest