Image by Gage Skidmore
The multilateral trade agreement known as the Transpacific Partnership (TPP), is a massive pacific rim trade agreement favored by Wall Street, the US Chamber of Commerce, Club for Growth, Ron DeSantis (voted to approve) and now candidate Vivek Ramaswamy.
President Trump famously took the U.S. out of the TPP agreement around the same time he took us out of the Paris Climate Agreement. As noted by President Trump and his economic team at the time, Free Trade Agreements (FTA’s) are beneficial to the USA when they are bilateral between the U.S. and another singular nation. Multinational trade agreements end up serving the interests of the least common denominator nation and are detrimental in their finished outcome to U.S. consumers.
Wall Street loves multinational trade agreements because they provide greater flexibility for the profit opportunities of global corporations, multinational corporations and banks. However, Main Street USA suffers from lost manufacturing jobs, lowered overall wages, and cheap imported durable goods that are an outcome of the lowest cost manufacturing priority...
To read more visit The Last Refuge.
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