[CTC] Debunking "New" Commerce TPP Report

Mon Apr 25 09:53:28 PDT 2016

FYI from Global Trade Watch…

Subject: Commerce Tpp “report,” same old debunked claims 

Repacking a series of previously debunked claims about TPP and jobs, economic growth and trade apparently is considered by the Commerce Department to be the same as issuing a “report.”

If you have not already seen the clear evidence – based on an analysis of the actual TPP tariff schedules – that the TPP does NOT equate to “tax cuts for 18,000 Made in America” products, please find that data here <http://citizen.typepad.com/eyesontrade/2016/04/audit-of-administrations-tax-cuts-claim-for-tpp-reveals-cooked-numbers-and-misdirects.html>.

For a debunk of the Peterson Institute for International Economics study’s TPP projections, which are based on a methodology that assumes no long term job loss, no increase in inequality and no increased trade deficit, please see Tufts University’s study here <http://www.ase.tufts.edu/gdae/Pubs/wp/16-01Capaldo-IzurietaTPP.pdf>.

For the disingenuous reference to the amount of trade the U.S. conducts with TPP nations, please see a study by the Economic Policy Institute here <http://www.epi.org/publication/trans-pacific-partnership-currency-manipulation-trade-and-jobs/> that shows the U.S. trade deficit with the TPP countries cost 2 million jobs in 2015, with job losses in every state. In addition, it’s worth noting that the oft-touted line about the TPP covering 40 percent of the world economy means not a lot. The six TPP partners with which the United States already has FTAs collectively account for more than 80 percent of the trade counted in the statistic that the TPP covers 40 percent of world trade. Thus, tariffs on U.S. goods going to Australia, Canada, Chile, Mexico, Peru and Singapore are already gone or are being eliminated. So while TPP countries may account for 40 percent of world trade, the TPP would cut tariffs on only 20 percent of that 40 percent share.  

From: Chris Tebsherany 
Sent: Friday, April 22, 2016 12:37 PM
Subject: TPP: Dept of Commerce: New Commerce Report Illustrates Economic Benefits for U.S. Firms Doing Business with Trans-Pacific Countries

https://www.commerce.gov/news/blog/2016/04/new-commerce-report-illustrates-economic-benefits-us-firms-doing-business-trans <https://www.commerce.gov/news/blog/2016/04/new-commerce-report-illustrates-economic-benefits-us-firms-doing-business-trans>
New Commerce Report Illustrates Economic Benefits for U.S. Firms Doing Business with Trans-Pacific Countries

April 22, 2016

Trade and Investment <https://www.commerce.gov/categories/trade-and-investment>Trans-Pacific Partnership (TPP) <https://www.commerce.gov/tags/trans-pacific-partnership-tpp>Made in America <https://www.commerce.gov/tags/made-america>
Posted at 10:11 AM

U.S. Secretary of Commerce Penny Pritzker today released a new report that highlights the benefits U.S. businesses can experience when exporting to the 11 Trans-Pacific Partnership (TPP) countries. The report details each market’s top export sectors and explains how existing tariffs will be impacted once the agreement enters into force.

“The Trans-Pacific Partnership enhances the United States’ global competitiveness and is critical to growing our economy and supporting good-paying U.S. jobs,” said Secretary Pritzker. “This report provides U.S. companies with information to more effectively export their products to some of the world’s fastest-growing markets and understand how critical TPP is to their global export efforts.”

The TPP is comprised of a diverse range of markets that range from top five U.S. export destinations – Canada, Mexico, and Japan – to growing Asia region markets – Malaysia and Vietnam – and Latin American markets with existing trade agreements for TPP to build upon – Chile and Peru.

The report shows U.S. businesses how this important agreement can open doors for the high-quality American products and services that global consumers desire. By eliminating more than 18,000 tariffs on ‘Made-in-America’ products sold overseas, the TPP will enable U.S. businesses to compete on a level playing field, while defining the highest standards on labor, the environment, and the digital economy ever to be included in a trade agreement. In 2013, nearly 176,000 U.S. companies exported goods to TPP countries.

In 2014, U.S. goods exports to TPP markets totaled $726.5 billion and supported nearly 3.1 million jobs.

According to a recent Peterson Institute for International Economics report, approving and implementing TPP will result in higher U.S. real national income and additional exports each year after it is enacted. By 2030, those yearly gains will be $131 billion in additional income and $357 billion in additional Made-in-America exports. The Peterson analysis finds that the bulk of this income gain goes to American workers and that this income growth will result in higher wages for American workers.

The Department of Commerce is committed to educating U.S. businesses and workers on the importance of Trans-Pacific Partnership. To view the full report, visitwww.trade.gov/fta/tpp/pdfs/full-country-report.pdf <http://www.trade.gov/fta/tpp/pdfs/full-country-report.pdf>. To learn more about the Trans-Pacific Partnership, visit www.trade.gov/tpp <http://www.trade.gov/tpp>. To help determine the tariff reductions for various products to TPP countries once the agreement enters into force, visit the newly updated Tariff Tool <http://export.gov/FTA/ftatarifftool/index.asp>.

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