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In reply to the discussion: ITC Report Shows TPP’s Deep Flaws for U.S. Workers, Says Machinists Union President [View all]Hoyt
(54,770 posts)To me, the key is does the TPP help overall. In addition, there are non-economic advantages to tying countries together -- but those aren't addressed in the report. Try not to read the report with a Nationalist, America First, Screw-the-rest-of-the-world perspective.
Main Findings
The Commission used a dynamic computable general
equilibrium model to determine the impact of TPP relative
to a baseline projection that does not include TPP. The
model estimated that TPP would have positive effects,
albeit small as a percentage of the overall size of the U.S.
economy. By year 15 (2032), U.S. annual real income
would be $57.3 billion (0.23 percent) higher than the
baseline projections, real GDP would be $42.7 billion
(0.15 percent) higher, and employment would be 0.07
percent higher (128,000 full-time equivalents). U.S.
exports and U.S. imports would be $27.2 billion (1.0
percent) and $48.9 billion (1.1 percent) higher,
respectively, relative to baseline projections. U.S. exports
to new FTA partners would grow by $34.6 billion
(18.7 percent); U.S. imports from those countries would
grow by $23.4 billion (10.4 percent).
Among broad sectors of the U.S. economy, agriculture
and food would see the greatest percentage gain relative
to the baseline projections; output would be $10.0 billion,
or 0.5 percent, higher by year 15. The services sector
would benefit, with a gain of $42.3 billion (0.1 percent) in
output. Output in manufacturing, natural resources, and
energy would be $10.8 billion (0.1 percent) lower with the
TPP Agreement than it would be compared with baseline
estimates without the agreement.
Many stakeholders consider two new electronic
commerce provisions that protect cross-border data flows
and prohibit data localization requirements to be crucial
to the development of cross-border trade in services, and
vital to optimizing the global operations of large and small
U.S. companies in all sectors.
TPP would generally establish trade-related disciplines
that strengthen and harmonize regulations, increase
certainty, and decrease trade costs for firms that trade
and invest in the TPP region. Interested parties
particularly emphasized the importance of TPP chapters
addressing intellectual property rights, customs and trade
facilitation, investment, technical barriers to trade,
sanitary and phytosanitary standards, and state-owned
enterprises.