Features

March/ April 2013 A Tale of Two Trade Deals

Never mind Asia, time to pivot to Europe.

By Clyde Prestowitz

The conclusion is clear. The TPP is lose-lose for the U.S., both geopolitically and economically. The White House should drop and the Congress oppose it while we focus on the vast promise of a stronger transatlantic partnership that will benefit the whole world.

Clyde Prestowitz is the founder and president of the Economic Strategy Institute. He formerly served as counselor to the secretary of commerce in the Reagan administration, as vice chairman of President Bill Clinton’s Commission on Trade and Investment in the Asia-Pacific Region, and on the Advisory Board of the ExIm Bank. His most recent book is The Betrayal of American Prosperity.

Comments

  • Jim Eckland on April 10, 2013 10:31 PM:

    These two deals will only hurt America's economy and jobs. These "Partnerships" are more about "Regional Government" than trade and should be avoided !!

  • clarence swinney on April 30, 2013 5:05 PM:

    TAX CUT FOR 2%-----
    COMPROMISE TO GET IT FOR MIDDLE CLASS BUT BUT TELL US WHAT IT MEANS

    A typical Republican contribution to Wall Street Ultra Rich
    Once known as CCP (country club party) now known as WSA party (wall street of america)

    2% get 70 Billion per year from the tax cut
    2%--get 30% of our Total Income
    2%--took 75% of total income gain from 2001-2007
    2% wealth--own about 50% of total financial wealth
    2% are among the Forbes richest 400.
    2% are among Fortune highest 400 incomes
    2% pay 17% in income taxes
    2% own major corporations that pay 16% income taxes
    2% that 1980-2009 got 281% increase in Income while middle 20% got 25% or less than inflation for a net loss. 3 million investors/gamblers versus 120 million workers

    What did we get from Bush 1700B Tax Cuts from which 2.7% got four times as much as bottom 80%.
    2% that in 8 under Bush sent 2,300,000 jobs to just China.
    2% that in 8 under Bush created 31,000 net new jobs or worst since Hoover.

    Mr. President.. STAND TALL BE BRAVE DO NOT REWARD GREEDY ROBBER BARONS
    Tell the people the Republicans are the PARTY OF WALL STREET with a goal of eliminating the MIDDLE CLASS. Since 1980 their policies have made America number ONE in major nations in INEQUALITY of Income-Wealth. Declining Ame