[CTC] More ITC Statements

Thu May 19 09:07:54 PDT 2016

From Reps. Levin and DeLauro and the AFL-CIO…

Arthur Stamoulis
Citizens Trade Campaign
(202) 494-8826

http://democrats.waysandmeans.house.gov/press-release/levin-statement-itc-tpp-economic-impact-report <http://democrats.waysandmeans.house.gov/press-release/levin-statement-itc-tpp-economic-impact-report>

Levin Statement on ITC TPP Economic Impact Report
MAY 18, 2016

WASHINGTON, DC – Ways and Means Committee Ranking Member Sander Levin (D-MI) today issued the following statement after the International Trade Commission (ITC) released a Congressionally-mandated report <https://www.usitc.gov/publications/332/pub4607.pdf> on the Trans-Pacific Partnership (TPP) trade agreement’s projected impact on the U.S. economy:
“My initial review of the ITC report only confirms my position that I cannot support TPP as negotiated.

“It is deeply troubling to read that overall U.S. manufacturing employment is expected to decline as a result of the agreement, and that the overall U.S. trade deficit is expected to worsen too, including in the auto and auto parts industry. And the ITC appears to confirm my concern that the weak automotive rules of origin in the agreement will result in lost auto parts jobs in the United States.

“The economic gains the ITC expects from TPP are insignificant, estimating that the U.S. GDP will increase just 0.15 percent by the year 2032, and employment will increase by just 0.07 percent by that time. And even these figures are based on a traditional model which makes some changes but remains flawed. The figures are also based on an optimistic assumption that our trading partners will open their markets to our exports, rather than simply replacing their existing tariff barriers with new non-tariff barriers, even though we have repeatedly seen that happen in the past.

“Additionally, a number of important pieces appear to be lacking in the report. For example, the report does not appear to analyze in any depth how TPP would impact income and wealth inequality in the United States. Nor does it address the costs associated with workers losing their jobs or factories leaving communities as a result of the agreement. For example, it includes no more than a footnote to a recent groundbreaking study that finds that it may take a decade for workers who lose their jobs due to imports to find new employment with comparable wages. Those “short-term” transition costs are largely ignored in this report.

“And, whereas the ITC’s estimates relate almost exclusively to the tariff provisions of the agreement, almost all of the concerns expressed by a wide range of members of Congress and stakeholders relate to the many non-tariff provisions of the agreement. The report provides no new insight into, for example, whether the labor obligations will be fully implemented by our trading partners, or how implementation or a lack thereof would impact employment in the United States; and whether the benefits of tariff liberalization will be offset by things like currency manipulation, which is essentially not addressed in the agreement. And yet those are some of the most real and pressing economic questions about the agreement.”
In January, Rep. Levin testified at an ITC hearing <http://democrats.waysandmeans.house.gov/press-release/levin-testimony-itc-tpp-hearing> on the potential economic impact of TPP, urging the Commission to consider a number of key points when developing its report.

http://delauro.house.gov/index.php?option=com_content&view=article&id=2317:delauro-statement-on-the-international-trade-commission-s-report-on-the-trans-pacific-partnership&catid=2:press-releases&Itemid=21

DeLauro Statement On The International Trade Commission’s Report On The Trans-Pacific Partnership

WASHINGTON, DC (May 18, 2016) — Congresswoman Rosa DeLauro (CT-03) today released the following statement regarding the U.S. International Trade Commission’s report on the economic impact projections of the Trans-Pacific Partnership.

“The Administration has promised an economic boon under the Trans-Pacific Partnership. However, the ITC report shows completely different results, conceding that the Trans-Pacific Partnership will deal another blow to the American manufacturing, auto part, and textile industries, among others. Our trade policies have decimated the American middle class and the agreement will only make matters worse.

“In the past, the ITC has failed to accurately project the growth of the trade deficit and we should not expect anything different as it relates to the Trans-Pacific Partnership. Large trade deficits are associated with the loss of good paying manufacturing jobs and suppressed wages at home. Americans deserve better. We need the truth about what these trade agreements can really do to our economy, not glowing talking points that do not paint the full picture.

“From weak rules on origin, to a lack of enforceable currency manipulation rules, the Trans-Pacific Partnership will continue the slow destruction of the American middle class. America cannot afford another massive free trade agreement written by multinational corporations, for multinational corporations. I urge my colleagues to oppose the Trans-Pacific Partnership and to reject a vote for the deal in the lame-duck session.”

In February, Congresswoman DeLauro submitted recommendations to the ITC on improvements that could be made to the Trans-Pacific Partnership report. The letter is available here.

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For Immediate Release May 19, 2016              Contact: Carolyn Bobb, 202-637-5018

ITC Report Shows TPP Is Disastrous for Working Families 

Statement by AFL-CIO President Richard Trumka on International Trade Commission (ITC) report on the Trans-Pacific Partnership (TPP): 

This ITC report is so damaging that any reasonable observer would have to wonder why the Administration or Congress would spend even one more day trying to turn this disastrous proposal into a reality. Even though it's based on unrealistic assumptions, the report could not even produce a positive result for U.S. manufacturing and U.S. workers. One of many shockers is just how meager the purported benefits of the TPP are. A mere .15% of GDP growth over 15 years is laughably small—especially in comparison to what we’re being asked to give up in exchange for locking in a bonanza of rights and privileges for global corporations. Even though the report fails to account for currency manipulation, wage suppression and the negative impacts of uninspected food imports and higher drug costs, the study still projects the TPP will cost manufacturing jobs and exacerbate our trade deficit. 
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Statement online here:  http://www.aflcio.org/Press-Room/Press-Releases/ITC-Report-Shows-TPP-Is-Disastrous-for-Working-Families <http://www.aflcio.org/Press-Room/Press-Releases/ITC-Report-Shows-TPP-Is-Disastrous-for-Working-Families>

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