Wednesday, November 18, 2015

TPP is a big, bad deal for workers

Rep. Marcy Kaptur called out TPP as bad for workers this morning.
Several House members gathered on Capitol Hill this morning to let the public know seeing isn't believing when it comes to the Trans-Pacific Partnership (TPP).

Lawmakers rolled out a copy for the 12-nation Pacific Rim trade deal on a dolly -- all 5,600 pages of it -- and said it will take more than 90 days for lawmakers to fully dissect and digest the agreement. But they added what they've read thus far is worse than they imagined.

When it comes to American jobs, trade deficits, expanded rights for foreign investors and food safety, the TPP is a loser for everyday Americans, elected officials stated. It's time for the U.S. to learn from past history on trade deals, Rep. Marcy Kaptur (D-Ohio) said:
The Trans-Pacific Partnership is more of the great sucking sound of jobs out of this country. Not a single one has resulted in a trade balance...We are going to lose even more jobs. TPP is just more of the same.
House members said bipartisan opposition to the deal is growing on Capitol Hill. Now that the document is public, lawmakers can delve into it to get the details of the pact. And many are not liking what they read.

The TPP document in all its largeness.
For example, the agreement will allow members to challenge food safety checks made when goods are imported into the U.S. Given the concerns many have raised about seafood brought in from Vietnam and Malaysia, for example, that is not good news for consumers.

TPP also does nothing to curtail currency manipulation, which would lead to even larger U.S. trade deficits with member countries. And investor-state dispute resolution language actually gives investors a great ability to sue these Pacific Rim countries to have their laws overturned.

As Rep. Mark Pocan (D-Wis.) said, TPP is "too big to pass," given that only five chapters of the agreement even deal with trade. It's just another attempted corporate takeover sanctioned by member governments.

That's why Congress needs to say no to the TPP.