General Discussion
In reply to the discussion: Let's clear the air around TPP [View all]jeff47
(26,549 posts)Because we already have free trade agreements with almost all of the countries in the TPP.
The only significant economy where the TPP cuts tariffs against US goods is Japan. That tariff is currently 1.2%. If you think 1.2% makes us uncompetitive, you'd have to think sales taxes in the US are utterly annihilating the US economy.
The TPP isn't about trade. The backers of the TPP want to claim it is about trade because that is a much easier sale. If it was about trade, it would involve countries where there currently are significant trade barriers.
The TPP is about capital. Right now, foreign investment is much riskier than investment in the US - we have a stable government with a long, stable judicial history in which to assess risk. You don't have to worry about a coup/revolution suddenly taking away your stripmine.
The TPP is designed to reduce risk for capital, so that US capital can be more safely used to fund foreign businesses.