At its state committee meeting in Tucson yesterday, the ADP renewed its 2014 opposition to fast tracking the Trans-Pacific Partnership. The resolution, in part, asks the President and Congress "to make public the full text of the proposed agreement and that the TPP be re-written to promote the interests of workers, protect the environment and improve the quality of life in all participating countries."
Robert Reich posted a length list of reasons to be opposed to TPP.
Now they [Republicans] – and the President – want a huge trade agreement that protects corporate investors but will lead to even more off-shoring of low-skilled American jobs.
Geez, President Obama. Can't you find some better issue to find common ground with the GOPlins?
The Trans Pacific Trade Partnership’s investor protections will make it safer for firms to relocate abroad – the Cato Institute describes such protections as "lowering the risk premium" on offshoring – thereby reducing corporate incentives to keep jobs in America and upgrade the skills of Americans.
Those same investor protections will allow global corporations to sue the United States or any other country that raises its health, safety, environmental, or labor standards, for any lost profits due to those standards.
And it is worse. The body that rules on such suits is a panel of corporate lawyers. And the alleged losses, are projected losses of expected (not real) profits.
In case you hadn’t noticed, America has a huge and growing problem of inequality. Most Americans are earning no more than the typical American earned thirty years ago, adjusted for inflation – even though the U.S. economy is almost twice as large as it was then.
Since then, almost all the economic gains have gone to the top.
The President is angry at Democrats who won’t support this trade deal.
He should be angry at Republicans who haven’t supported American workers. Their obduracy has worsened the potential impact of the deal.
The bottom line is that American workers will suffer even more from the inequalities inherent in TPP should it be passed as written.