“HONG KONG — Having just traveled to New Zealand, Australia, South Korea, China, Taiwan and now Hong Kong, I can say without an ounce of exaggeration that more than a few Asia-Pacific business and political leaders have taken President Trump’s measure and concluded that — far from being a savvy negotiator — he’s a sucker who’s shrinking U.S. influence in this region and helping make China great again.These investors, trade experts and government officials are still stunned by an event that got next to no attention in the U.S. but was an earthquake out here — and a gift that will keep on giving America’s allies pain and China gain for years to come. That was Trump’s decision to tear up the 12-nation Trans-Pacific Partnership (TPP) free-trade deal in his first week in office — clearly without having read it or understanding its vast geo-economic implications.”
“Yes, like any trade deal, TPP would have challenged some U.S. workers, but it would have created opportunities for many others, because big economies like Japan and Vietnam were opening their markets. For decades we had allowed Japan to stay way too closed, because it was an ally in the Cold War, and Vietnam, because it was an enemy. Some 80 percent of the goods from our 11 TPP partners were coming into the U.S. duty-free already, while our goods and services were still being hit with 18,000 tariffs in their countries — which TPP eliminated.
That’s why the Peterson Institute for International Economics estimated that U.S. national income would have grown by some $130 billion a year by 2030 with TPP — not huge, just a nice boost for U.S. workers, businesses and diplomats.”
Trump is a moron when it comes to the TPP and international trade.
Here are the top two comments, which I approve:
Sadly, this article is right on the money. Even sadder is the fact that the Bozo in Chief will not receive the “credit” he so richly deserves for the long term economic and international relation catastrophes that will result from this and many of his other ill-advised decisions and non-decisions. I’m sure that the TPP was not a perfect treaty, but you know, they never are in the real world. Getting thirteen different parties to agree to a complex economic treaty requires compromise. That is something that American politicians seem to have forgotten completely.
Trump doesn’t care about any of the American interests lost by pulling out of the TPP so long as his daughter gets her trademarks approved and the Chinese by his family’s buildings and funnel more money Trumps way. His supporters bizarrely believe he’s “tough” on China though all he does is exploit personal opportunity there. And liberal have been complicit in all this by allowing and in Sanders case attacking Ms Clinton for rightly supporting the TPP. America is way behind in its leadership in Asia. China is building roads, infrastructure and investing in its neighbors whether they like it or not. The untied states should be leading the way and we’d all benefit as a result. Sad.