BBC News: How much truth is there in Trump’s TPP claims? January 25, 2017Posted by hslu in China, Cold War, Economics, Global Affair, Obama, Trump.
How much truth is there in Trump’s TPP claims? – http://www.bbc.co.uk/news/business-38728059
Answer: Not much at all.
I didn’t like TPP because it was an secretive deal with zero input from the Republican Party and American citizens. TPP would permit companies to sue governments if they believe these countries change their policies to favor state-provided services.
Furthermore, TPP’s primarily beneficiaried are U.S. international companies with low or zero tariff on as many as 18,000 U.S. products.
For instance, American auto exports would grow when tariffs as high as 70% in certain markets are removed.
U.S. farmers would teapthe most rewards. Certain food items exported to some countries are taxed up to 40%. For instance, soybeans are taxed at 35% and dairy, sugar, rice and seafood see taxes as high as 98%.
Without a doubt, the political undertone of TPP is to contain China’s rise. The U.S. wanted to use TPP to fence off China’s economy’s expansion, to put Chinese companies at a disadvantage.
In essence, the U.S. wanted to use TPP as a weapon to fight an economic war against China.
Now that Trump pushed TPP off the table, Trump is waging his version of an economic war against China.
Let the fireworks begin!