Introduction to the TPP
My cousin has been asking me if I’m up to speed on the dangers of the Trans-Pacific Partnership (TPP). I explained to him that
Paul Krugman had just declared that the TPP was no big deal, so I assumed it must be awful, but no–I didn’t really know much about it. After reading some of the information he sent my way, I am glad he alerted me to this important issue; I can see why
Dean Baker chastised Krugman for his nonchalance, though Baker and I are worried about (slightly) different aspects of it. In this post, I just want to “introduce”
Free Advice readers to the TPP, to make sure you know why more and more people are warning about it.
Here’s
Wikipedia’s opening description:
[...]
The website The New American has a lot of good coverage of the TPP, but
this essay from August 2013 is the single best one that gets one up to speed on some of the essential concerns. Here are some key excerpts (bold is mine):
[... some alarming stuff ; see Murphy's article ...]
I’ll be returning to this topic in the future, but I wanted to at least make my readers aware of the controversy. The Obama Administration is seeking to restore “fast-track approval” powers on this, which would allow an up-or-down vote on the whole TPP without discussion of its individual components.
As a final point in this introductory post, let me say this: The problem with these “free trade” agreements is that some critics rely on centuries-old protectionist fallacies; they are afraid of “cheap imports.” Anyone familiar with Bastiat understands why such worries are misplaced.
However, those of us who believe in genuine free trade shouldn’t trust government officials when they title something a “free trade” agreement. It doesn’t take years of backroom negotiations to reduce tariff rates. No, something is really fishy with this TPP and other such deals.
