|TPP doomed, big win for American workers.|
The sovereignty-killing, anti-American worker Trans-Pacific Partnership (TPP) is dead, according to incoming Senate Minority Leader Chuck Schumer (D-NY). In the euphoria over Donald Trump’s election, the very good news that TPP, which CAPS actively opposed, will not go forward is a welcome victory for American workers, and for population stabilization advocates. TPP would have led to virtually unrestricted immigration.
Trump’s win ensured that TPP would not be ratified. In his June economic address, Trump said, “There is no way to fix the TPP. We need bilateral trade deals. We do not need to enter into another massive international agreement that ties us up and binds us down,” a reference to the North American Free Trade Agreement from which the U.S. never recovered. Economists estimate that NAFTA cost American workers a net 1 million jobs. Trump has pledged to renegotiate or withdraw from NAFTA within 200 days after his inauguration.
Senate Majority Leader Mitch McConnell (R-KY) also confirmed that there was no chance that TPP would pass during Obama’s lame-duck days. And McConnell said it’s now up to Trump whether any future trade deal would move forward after that. As a bitter NAFTA and TPP critic, Trump promises that any trade deals he negotiates will create American jobs, increase wages and reduce the $36 billion trade deficit.