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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsWith 5 MILLION manufacturing jobs already lost, we can't afford NAFTA-on-steroids TPP!
The Status Quo Trade Models 21-Year Record of Massive U.S. Trade Deficits, Job Loss and Wage Suppression
. . .
Over 21 years, a series of trade agreements not only have failed to meet their corporate and political backers glowing promises of job creation, but instead have contributed to unprecedented and unsustainable trade deficits, the net loss of nearly 5 million U.S. manufacturing jobs6 and more than 55,000 factories, the offshoring of higher-wage service sector jobs, flat median wages despite significant productivity gains and the worst U.S. income inequality in the last century. Even for U.S. agriculture, a sector that consistently has been promised gains from trade pacts, U.S. food exports have stagnated while U.S. food imports have surged under NAFTA-style deals.
Given that the Trans-Pacific Partnership (TPP) pact now under negotiation replicates and expands on the same model, opposition in
Congress and among the public is deep and broad.
The United States has a $178 billion goods trade deficit with its 20 free trade agreement (FTA) partners. The job-displacing U.S. trade deficit with FTA partners has surged 427 percent since the pacts took effect, as imports have ballooned and exports to FTA partners actually have lagged behind exports to the rest of the world. Even eliminating trade in fossil fuels, the United States has a more than $92 billion trade deficit with its
NAFTA partners alone.
In contrast, the United States had a small surplus with Mexico and a $30 billion deficit with Canada before NAFTA. A 2011 study found that the ballooning trade deficit with Mexico alone under NAFTA resulted in the net loss of about 700,000 U.S. jobs, and more than 850,000 specific U.S. jobs have been certified as NAFTA casualties under just one narrow U.S. Department of Labor program called Trade Adjustment
Assistance (TAA).
The U.S. trade deficit with China has grown from $112 billion in 2001, when China joined the World Trade Organization (WTO) with U.S. congressional approval, to $350 billion
today, spurring an estimated 3.2 million U.S. job losses.
U.S. manufacturing workers who lose jobs to trade and find reemployment are typically forced to take pay cuts. Three of every five displaced manufacturing workers who were rehired in 2014 took home smaller paychecks, and one in three lost more than 20 percent, according to U.S. Department of Labor data.
Given that the Trans-Pacific Partnership (TPP) pact now under negotiation replicates and expands on the same model, opposition in
Congress and among the public is deep and broad.
The United States has a $178 billion goods trade deficit with its 20 free trade agreement (FTA) partners. The job-displacing U.S. trade deficit with FTA partners has surged 427 percent since the pacts took effect, as imports have ballooned and exports to FTA partners actually have lagged behind exports to the rest of the world. Even eliminating trade in fossil fuels, the United States has a more than $92 billion trade deficit with its
NAFTA partners alone.
In contrast, the United States had a small surplus with Mexico and a $30 billion deficit with Canada before NAFTA. A 2011 study found that the ballooning trade deficit with Mexico alone under NAFTA resulted in the net loss of about 700,000 U.S. jobs, and more than 850,000 specific U.S. jobs have been certified as NAFTA casualties under just one narrow U.S. Department of Labor program called Trade Adjustment
Assistance (TAA).
The U.S. trade deficit with China has grown from $112 billion in 2001, when China joined the World Trade Organization (WTO) with U.S. congressional approval, to $350 billion
today, spurring an estimated 3.2 million U.S. job losses.
U.S. manufacturing workers who lose jobs to trade and find reemployment are typically forced to take pay cuts. Three of every five displaced manufacturing workers who were rehired in 2014 took home smaller paychecks, and one in three lost more than 20 percent, according to U.S. Department of Labor data.
THE REST:
https://www.citizen.org/documents/prosperity-undermined.pdf
PeeEss: A vote for Clinton means a vote FOR TPP. THINK about it.
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With 5 MILLION manufacturing jobs already lost, we can't afford NAFTA-on-steroids TPP! (Original Post)
Triana
Apr 2016
OP
ViseGrip
(3,133 posts)1. The 'cult' doesn't care! Nor about bank barons, fracking, mining deals at State for family.
Or democratic elections! It's all good now with the 'cult'.
silvershadow
(10,336 posts)2. The TPP is what the election is about. nt
Maedhros
(10,007 posts)3. The only acceptable Liberal positions in the Clinton Party
are Women's Rights, LGBTQ Rights, and Anti-Racial Violence - all absolutely crucial and necessary.
However, there is a lot more to being a "liberal" than just those three issues.
pampango
(24,692 posts)4. TPP may indeed be bad but imports are a small part of our economy compared to Scandinavian countries
which import 2 to 3 times as much as we do. Bernie has said that he will renegotiate NAFTA (and presumably other free trade agreements). I have not heard the specifics of his renegotiation but I hope it includes labor rights, environmental standards and business regulation.
The United States has a $178 billion goods trade deficit with its 20 free trade agreement (FTA) partners.
And our overall trade deficit in 2015 is $736 billion. We do about 40% (39.5%) of our trade with "FTA partners". 24% of our trade deficit is with them. Our trade deficit is worse with non-"FTA partners" than it is with those 20 partners.