One of the many talked about topics this political season has been the Trans Pacific Partnership. Many of the presidential candidates have come out against this proposal, including Hillary Clinton, Jill Stein, Donald Trump, and also former presidential candidate Bernie Sanders. The TPP was signed on February 4th, 2016 by 12 countries including the United States of America. Other countries include Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam. The attempt of this partnership is to reduce tariff barriers, therefore encouraging free trade with the countries involved. Some of the backlash against this partnership has mainly been concerned with the possible loss of domestic jobs,
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Republican nominee Donald Trump has said that “he planned to re-negotiate trade deals in order to create jobs across the country and especially in places that formerly produced goods sold in the U.S. and abroad (Bloomberg, 2016). Senator Bernie Sanders states on his website that “The Trans-Pacific Partnership is a disastrous trade agreement designed to protect the interests of the largest multi-national corporations at the expense of workers, consumers, the environment and the foundations of American democracy”. Finally, Secretary Clinton, who has seemed to flip flop on the issue, recently said that “I oppose it now, I’ll oppose it after the election, and I’ll oppose it as president,” she said, detailing her economic plans in a speech in Michigan” (Washing Times, 2016). Most of the major politicians this country has have come out against the Trans Pacific Partnership, which begs the question of what economists think and what studies …show more content…
The arguments they make concern mainly with the loss of domestic jobs. Although it is important to keep jobs in the US, it is revealed as more beneficial to outsource some jobs to other countries to grow overall income and GDP in the US. The part of the deal that I personally would like renegotiated or rethought would be the decrease and elimination of the trade tariffs. This has been a problem in the past with creating deficits for our country. Moderate decreases in tariffs are good to keep competition alive and well, but these drastic reductions can spell trouble for the US. However, from a manager’s point of view, this is a deal that can work well for them in multiple facets. Cost saving is a big one with the cheaper labor cost potential. But the biggest gain is the ability to trade and expand your company globally with little to no trade barriers. There are highs and lows with free trade, but concerning the TPP, it is a great deal for businesses, and a risky deal for the US government in growing and sustaining more
Republican nominee Donald Trump has said that “he planned to re-negotiate trade deals in order to create jobs across the country and especially in places that formerly produced goods sold in the U.S. and abroad (Bloomberg, 2016). Senator Bernie Sanders states on his website that “The Trans-Pacific Partnership is a disastrous trade agreement designed to protect the interests of the largest multi-national corporations at the expense of workers, consumers, the environment and the foundations of American democracy”. Finally, Secretary Clinton, who has seemed to flip flop on the issue, recently said that “I oppose it now, I’ll oppose it after the election, and I’ll oppose it as president,” she said, detailing her economic plans in a speech in Michigan” (Washing Times, 2016). Most of the major politicians this country has have come out against the Trans Pacific Partnership, which begs the question of what economists think and what studies …show more content…
The arguments they make concern mainly with the loss of domestic jobs. Although it is important to keep jobs in the US, it is revealed as more beneficial to outsource some jobs to other countries to grow overall income and GDP in the US. The part of the deal that I personally would like renegotiated or rethought would be the decrease and elimination of the trade tariffs. This has been a problem in the past with creating deficits for our country. Moderate decreases in tariffs are good to keep competition alive and well, but these drastic reductions can spell trouble for the US. However, from a manager’s point of view, this is a deal that can work well for them in multiple facets. Cost saving is a big one with the cheaper labor cost potential. But the biggest gain is the ability to trade and expand your company globally with little to no trade barriers. There are highs and lows with free trade, but concerning the TPP, it is a great deal for businesses, and a risky deal for the US government in growing and sustaining more