These are the fires burning as our low-rent Nero fiddles and careens from one lobe of his inadequate brain to another. Should he continue on this course -no reason to expect that his erratic decrees will cease- he will likely begin to lose money for the power elites, possibly the only thing they consider to be a mortal sin. Toss in the likely loss of republican seats next fall, the stones Mueller will be rolling onto trump tower, and we could see the demise of Mr. Trump. What comes after could be a superficially benign, but internally toxic empty suit president who would be quite efficient at implementing the full force of the government 1%ers dream about.
2
Trump is weakening America nationally and internationally beyond measure...a reckoning cometh.
2
To be honest, I'm glad the US walked from the TPP. As a Canadian, I'm sick of US bullying and it's "my way or the highway" attitude. I think it's time the rest of the world took a chain saw to the US and cut them down to size.
2
REALITY: changes made for other members were driven by the Trump objections
1
The TTP was an extraordinary opportunity to counter China and hold the Asian region to some decent humanitarian and ethical standard, like no child labor, no pollution gone wild, no illegal fishing, etc. There was a kind of a new order and standard that would have been enacted, oh well,
3
"While American beef faces 38.5 percent tariffs in Japan, for example, beef from Australia, New Zealand and Canada will not."
The top ten beef producing states, in order, are: Texas, Nebraska, Kansas, California, Oklahoma, Missouri, Iowa, South Dakota, Wisconsin, and Montana.
And let's not forget the retaliatory tariffs on Kentucky bourbon, and Harley-Davidson motorcycles, which are manufactured in Missouri, Pennsylvania, and Wisconsin.
To paraphrase Sara Palin, "How's that MAGA thing working' out for ya?"
3
“Mr. Trump’s view of trade as a zero-sum game filled with winners and losers.”
Such brazen intellectual dishonesty. Again, only half of the argument is presented while lies are spread instead of presenting the other half. Being a proponent of the interstate system and fair trade is not the same as being a zero-sum game, anti-trade or protectionist zealot. For too long US trade negotiators have peddled access to the US market on behalf of consumers while selling would be US producers down the river.
Trump pulled out of TPP because it was something President Obama worked on and because t is easy to just run away and not do something that might require work and understanding.
But when it came to doing the hard thing -- actually negotiating the trade agreements that Trump promised would replace TPP and NAFTA -- Trump has completely failed to deliver.
In fact, you'll notice that the first mention Trump made of tariffs was on the LAST day of the recent NAFTA talks in which Trump made no new deals.
The rest of the world is making Trump look foolish and so he's reverting to his typical petulance of lashing out and trying to bully everyone.
Meanwhile, the ensuing chaos provides cover in the media for Trump's failures of just THIS week. We've already moved on from whatever fiasco occurred prior to last week. Now we have to focus on the new lies and turmoil coming out of the White House.
3
I don't get the title "challenge to Trump". It's not exactly the same thing but, say a group's member separates, decides to jump off a cliff and the others don't join him. They're not challenging him if they stay their original course.
Consumerisms is a big problem in the US. The wants over the necessities are ruling americans. Just look at what you have and don't need.
One needs only live abroad in third world countries to see how we really are in the US... It began with us and it's going to end with us.
Maybe we should learn from other countries that don't have the freedoms and liberties that we take for granted in the US...
Canada has overtaken the USA as a world leader with TPP and EU treaties.
“Trump won’t last forever,”.....but, during this Trumbian captivity, he will create enemies against the United States abroad and enemies against the Constitution within. His stain upon our ethics will last a very long time. America will learn to be competitive but resilient again.
To paraphrase a Hebrew Anthology: We will sit down and weep and think of home and America as a long-gone happy dream.
Still don’t regret seeing this one go.
How quick we are to forget what was in the agreement in our haste to hate Trump. Being held accountable to another nation’s laws because yours hurt their trade prospects is already bizarre enough with the WTO.
Why would anyone want to add more to that.
It’s only going to take 4 years for the rest of the world to move away from the United States and establish other relationships. As less and less good are demanded from the US the dollar will continue to fall globally. By the end of Trump’s reign of incompetance we could be in a state where manufacturing has further declined and globally, no one is demanding American goods anymore as they’ve established relations elsewhere. Look at Mexico, a large importer of US corn feed for animals. 2018 marks a starked decline in those purchases as Mexican cattle ranchers are ordering feed from Argentina now. Good luck America, but you elected a clown, expect a circus.
4
"Trump won't last forever." Finally, some good news!
We should be leading this,not standing on the sidelines . After WWII we started to put our experiences to work. We knew "We the People... " could work better for us & everyone else. But it seems now that we are forgetting our lessons learned. We are becoming less "We the people..." more of this nationalisticm, selfish , crybabies that always seem to be feeling sorry for themselves. Trade agreements & treaties are not bad for us. We have sold ourselves out. They make everything there because our businesses sold us out for cheaper labor. Wall Street gave a New York minute about American jobs. So it doesn't matter where your from,coal mines of West Virginia or the film studios of Los Angeles, if you do not reinvent yourself & make yourself valuable. We financed,made all the equipment for all the factories in China. China ,Mexico & India didn't swindle us through trade agreements. We swindled ourselves , our banks , Wall Street & consumers. To stay number one in airplane manufacturing ,Boeing had to share manufacturing. Boeing wasn't stupid no matter how stupid we are for listening to this President. Can't get over that we elected a man who went bankrupt four times. And he is making trade policy. All Republicans are doing is getting us in a deeper hole ,deficits & trade wars. Good luck to you in Iowa & Ohio who farm. Who is going to buy your next harvest?
3
Wow .. smart adult people working out problems and trading with one another ... don't you wish we had a grownup who knew how to read ... or at least have someone to explain to him the ins and outs and complexities of trade. Not this silly whimsical child who just destroys things. The rest of the world are leaving us behind when they are able to. And why wouldn't they???
1
Scabs want to destroy labor unions with these pacts. When the middle class is decimated their cities follow.
America first may just mean America alone.
3
Trump is everyone's failure.
Anyone who thinks that China is going to abide by any agreement that reduces their advantage vis a vis the rest of the world (for instance, enforcing intellectual property rights) is utterly delusional. I will offer the only somewhat hyperbolic observation (I don't believe that genocide is imminent) that this is similar to those companies and countries, like Ford Motor Company and Sweden, who continued to trade with Nazi Germany up to a point before the future was certain, but well past the point where it was obvious.
1
Just the one globe that supports human existence so far. Perhaps working together as a species is a good plan. Globalization is not new. We've always lived on this globe:)
1
"Globalization" is really a just concept. Globalists are, of course, free to create their ideal, fantasy world but shouldn't expect others to abandon the real world for it.
Anyone who believes he/she can truly influence and/or run the entire globe cannot be too grounded in reality. A heady concept too alluring for certain types to pass up.
1
@alex. This is the best analysis of outsourcing I have read. Hey NAFTA shafted Canada...Stelco. Just recently Campbell Soup and Pepsico via Spitz seeds. This information shows up in our Globe and Mail...a good source of business information for Canadians. I have a digital subscription to the NYT and the G and M plus multiple other MSM sources.
1
Its so depressing living in Trump Murica, this country is on a downwards spiral, and we have been losing and losing..... So much losing.
If 2020 does not bring change, then this nation is toast. It will take a long while to recover.... And not just economically but prestige wise, leadership wise, dignity, rule of law, freedom, compassion, and on and on, things Americans were natural leaders at.
1
True policies are the result of calculations and planning and don't come between insulting Tweets about "Alex" Baldwin. Trump doesn't have the attention span for policy. This one is nothing more than a sales point he can pitch to his base and that may swing the Pa. 18 election on Tuesday to the GOP. This may have real consequences though for the rest of the U.S. What will Florida orange industry and Sen. Rubio have to say when Europe slaps a retaliatory tariff on juice imports, or Paul Ryan when Wisc. Harley Davidson's are hit. Let Trump explain once again how easy it is to win trade wars - and regional elections after that.
1
Global trade has benefitted the US.
corporations: + $2
workers: - $1
net benefit: + $1
The benefit should have been shared at least like this,
corporations: +$1
workers: +$0
net benefit: +$1
but it wasn't because of corporate greed.
You can add as many zeros as you like.
TPP was a good idea gone bad, because in the hands of our negotiators and lobbyists it became corporate welfare for Big Pharma (sanctified high oligopolistic pricing for prescription drugs in the U.S.) and a WPA for trade lawyers, who stood to make really big money representing parties to trade disputes in international arbitration proceedings. In them, arbitrators had the power to overrule the legislation of participating countries, nullifying in certain cases, U.S. environmental and labor protections.
Presumably President Barack Obama swallowed the deal because of TPP's obvious geopolitical advantages in putting together a huge trading bloc which would act as a counterweight to China's increasingly imperial trade practices. For other Pacific nations, this new agreement is a good thing, not only because it gives them more clout in the world economy but because it helps fortify them against President for life Xi's drive for Pacific hegemony.
Should we return to more rational government, we would ought to take up an offer, as Ambassador Fujisaki put it to "come back" but ONLY if the arrangement removes the get out of jail card for Big Pharma and severely restricts extraterritoriality for arbitrators.
By the way, I believe that NAFTA, defects notwithstanding, was overwhelmingly a win-win for the U.S., Canada and Mexico. That U.S. industry used NAFTA as cover to export jobs to China was not the fault of NAFTA.
1
The people screaming the loudest about Trump imposing a 25% tariff on steel imports have had no problem whatsoever with Japan imposing a 38.5% tariff on American beef -- or all the other one-sided tariffs against free trade that have been in place for years to the detriment of "free trade" and the American economy. They remain the traitors to American prosperity that they proved themselves to be under the Obama administration.
1
Trade imbalance simply put means that the people and institutions in one country like buying the products and services coming from other countries more than vice versa. It takes a stable genius to think that imposing tariffs and antagonizing people will make the Germans or indeed any other Nation buy more US made stuff. Small hint to reduce Trade imbalance... make better stuff more cheaply.
Trump lost both trump lost both the battle and the war. He just ceded control to China, when we had worked so hard for a leadership position.
Wait a second! Trump's 10% tariff on aluminum and 25% on steel aren't OK, but Japan can levy a 38.5 percent tariff on American beef? What other tariffs are being levied against us by countries currently screaming about our attempt to raise tariffs on some essential goods?
I'm very far from being an admirer of our unbalanced chief executive, but honestly, I can't see what's OK with countries other than our own levying tariffs, whether they're in the revised TPP or not. Somehow it's not OK for us to protect our own industries and national interests, particularly when steel is such an essential component to our national defense.
2
To all the people who see this as a "race to the bottom" - THAT race has already happened domestically in the US - and won by the Republicans and the "right to work" big business owners/corporations. Now instead of passing on profits to workers in the forms of raises, corporations pass on profits to shareholders in the form of dividends, artificially raised through stock buybacks, purchased with, you guessed it, record profits. It is a closed loop where workers aren't considered part of the 'winners', but as the afterthought.
Meanwhile, TPP means that as economies grow in other countries, pressure on wages to follow suit goes up, floating more boats. Regional specialties grow, meaning that each region can focus on specific factors and skills which enhance its economy without worrying about other, less productive factors. That's how it really works - but Americans seem to be confused by the lobbyists and corporations who are against the working man and woman, and for the 1%, who coincidentally, benefit the most from recent tax changes since 2000 and from stock buybacks as well.
1
Because now the Oceanic-Asian markets of the TPP members are going to be noncompetitive and unsustainable for American companies. And the TPP member countries are a market of, a population of, 495 million.
So Trump would not sign a TPP, originated by his predecessor, for the benefit of the US of A, instead leaving the draft treaty.
The other countries from the Oceania-Asian region can still see how they can benefit from it, and probably more as not only is China outside the pact, but also America. So where these countries, nearly all allies or at least neutral to America, have opened their markets to each other, they remain able to put tariffs on American or Chinese goods.
While allies with the US, Australia and Canada are also market competitors in Wheat and Beef, and other agricultural products. A 38.5% tariff on America beef compared to Australian and Canadian in the Japanese market.
This is a BIG, HUGE, GREAT WIN for the Oceania-Asian region, and a clear loss for America. This is an incentive for China playing a longer more strategic game to begin discussing ways it can successfully integrate some parts of the TPP into its own trade practices and pick up those areas of trade in the Oceania- Asian region Trump has decided are not needed by the US of A.
Because now the Oceanic-Asian markets of the 10 TPP members are going to be noncompetitive and unsustainable for American companies.
The US is moving closer to China as a result of this slimmed down version of TPP in which the US and China take no part. Obama wanted to counter China's influence. Trump is doing exactly the opposite. The ramifications of this move are not clear, but the US and China are a powerful combination that can put the TPP countries at a disadvantage. So now who's left out?
... and then there were five markets that were larger than the US.
The EU, China, TPP countries, India and Mercosur are all larger and, with the current exception of Mercosur, are more powerful than the US.
So in fact, the US has just taken a step towards becoming smaller than the competition.
Not that they understand what they are giving up with stepping out of the globalized system and back into their small pond.
TPP was designed to counter China and now, it is a block that will keep out the US by its own doing while sooner or later including China.
Not the smartest move by Trump.
But well in line with his other actions.
The debate in the US seems to leave out some key facts.
The US has a trade surplus with Canada. Trump is lying when he claims differently by leaving out services.
The US has a trade surplus in steel with Canada.
If the reason was truly about national security it would not be on the table in regard to NAFTA talks. (Canada has already said it will not accept that as a pressure ploy)
In regards to national security as far back as ww2 the US war production depended on Canadian aluminum. Canada has cheap hydro power for refining.
As far as Canada has been concerned the US has always cheated on trade agreements particularly in regard to softwood lumber.
The US is no where close to having the lowest tariffs in the world, massively subsidizes its agriculture, and has tariffs over 100% on some manufactured items.
When the first so called free trade agreement was made with Canada, the primary rational was fair trade with the US not free trade, it did not get that.
When Canada entered the first agreement it caused the loss of thousands of jobs and took time for the economy to adjust and it will similarly take a lot of pain to re adjust without it.
Why should any country want an agreement with the US when it cannot be relied upon to trade fairly. Trump is not only destroying current agreements but will make other countries in the future not put much trust in the US.
100 years ago the US essentially had all the resources it needed, that is no longer anywhere close to being true.
For Canada, the TPP is a more attractive option with the USA out than with it in. A lot of the rules were basically being written by the USA, favouring US corporations. Once the USA stepped aside (thanks to Trump), other countries were able to fix some problematic provisions and improve the deal from their perspective. Now it has: more reasonable copyright protections; lower cost arrangements for pharmaceuticals; better protection for non-US cultural industries; and less scope for companies to sue governments. Hopefully, all this can get institutionalized to the point where it won't change even if the USA does try to get back in at a later date.
1
Interesting. I supported the TPP when President Obama was negotiating it and would still like to see the U.S. join. Both Hillary Clinton and Bernie Sanders said they wouldn't sign it. I do not recall any criticism of them by the Times or any strong articles in favor of free trade at that time. I will tell you that if candidate Clinton had stuck to her initial position on the TPP (in favor) and supported free trade in the election, she might have captured some Republican votes that went for Trump.
The Japanese will not allow the free flow of goods into Japan if those goods can be produced in Japan. They are very employment-conscious in Japan. This is a one way street meant to give Japanese firms access to foreign markets. There's nothing wrong with that; Japan is an ally and we ought to want to see her do well, but anyone who thinks this deal is a challenge to Trump or a threat to American interests is mistaken.
Sorry, but the TPP was written by corporations and its backers tried to push it through the US Congress without any members reading it. It included the right of corporations to sue cities, states and countries for loss of potential profit for laws which prevented the corporations from starting up business and polluting the new area. There were many other bad points for the US. Please see Esquire article "Surprise! The new trade deal is written by and for corporations" by Charles P. Pierce, November 11, 2015. His decision not to go with the TPP is the only good point I can see in Trump, but his reasoning was different than mine.
Ricardian trade theory tells us that the country as a whole benefits from trade as we maximize our competitive advantages, but dislocation occurs in less competitive sectors. This, unfortunately, does not dovetail well with current policies hellbent on protecting positions rather than people.
The global economy dates back to the Roman Empire; it has always been with us, and always will be. How one plays the game of world-wide trade though is key. Let's look at our own situation. Jobs were moved overseas for higher profit margins, without concern for the American worker. This was much to the detriment of our purchasing power. Thus our strength as a "Consumer Economy" is squandered for the good of a few. What will tariffs do to change that equation? Nothing but relinquish our remaining interests to the other players (such as China, et al). With but few competitive industries here, and an ever declining base of consumers, what cards have we left? It's the resulting income imbalance, born out of greed, and our wayward direction, from sheer lack of vision, which has hurt the U.S., not globalization. History shows us that tariffs, in similar situations, never do much to better one's hand, or keep one solid in the game of global markets. If anything, they mark the end of the game. The player must fold.
Many Canadians do not like the TPP and have been protesting against it since the beginning, as it harms local rights and Canadian standards for products. This disagreement with the big pushers of this trade deal comes also from other member nations' peoples, including Australia. The agreement is not an agreement 'of the people'.
In 2016, the U.S. exported $320 billion of goods and services to Canda while importing $307 billion. Unfortunately the American president is entirely unaware that the U.S. enjoys what is usually a small surplus in trade between the countries.
Canada is a country absurdly blessed with natural resources and Nafta gives equal access to those resources for the U.S.
Many of the major "Canadian " corporations are owned by American corporations, subsidiaries like the Canadian auto industry. Perhaps Trump could visit Detroit/Windsor to witness the total integration of the motor industry.
Canada continued in Nafta despite having higher environmental and labour standards and a more advanced welfare state than the U.S. and Mexico.
In response to the madness of Trump, Canada has negotiated free trade with Europe and enhancement of the Trans-Pacific Partnership.
Until a couple of years ago Canada and the U.S. had the world's largest bilateral trade. No longer. Trump is dragging his country back to zero-sum gaming and a prefeudal distribution of wealth and incomes. Perhaps the American ruling plutocracy will change policy after the financial markets crater.
Protectionism is just a type of government subsidy. We establish price controls that make imports as expensive as domestic products. The higher prices help support the US industry at the expense of the US consumer (who pays more).
When it comes to steel and aluminum the higher prices also get paid by other industries (construction, auto manufacturing, appliances,, etc.). That makes those products less competitive. A result is job losses in those industries and yet more manufacturing manufacturing moving out of the US.
Global trade isn't simple. There can be cases where practices aren't "fair" but we already have numerous trade agreements and means of dispute resolution in place to counter these situations. Opting out of such agreements (be it NAFTA or TPP) isn't the right approach.
People should realize that this new trade deal was not stitched together just since Trump imposed tariffs.
The countries have been working on it since about a month after he pulled the US out of the original agreement last year.
Probably not that much to work on really as it had been ready to sign when he pulled out.
The US was a champion of free trade until free trade no longer benefits the US as much because other countries have caught up with the US in terms of economic development and competitiveness. Trump is not the first president to impose tariff on imported products. US trade laws are full of protectionist measures designed to protect US industries. The difference now is that everything Trump does is amplified because of his rhetoric.
Anne--
You have recapped the situation very well.
Unfortunately however, the TPP has subsequently been altered in that there are now 20 provisions included that had been excluded previously at the USA's request. Additionally, there are 11 provisions that were included at our request that have now been excluded. Accountability, work conditions and return trade have been altered or eliminated. The countries involved have also made individual deals with each other that are based on our non-participation and the altered conditions. If we were to again participate, it would be under far less favorable terms then had been originally written.
Trump is protectionist to his core. Beyond that he has a pathological need to try to strip Mr. Obama of every success. He could re-enter the TPP, end up with essentially the same thing as the Obama administration negotiated, but then proclaim it 'different,' slap his own name on it, and claim that it is far superior to what Obama did. Still, as galling and outrageous as that would be, it would be better for the country than what we have now. Pulling out of the TPP was a serious mistake which has opened the door for China to become the center of agreements leaving the USA marginalized at best.
11
Here comes the responding salvo!
"The U.S. is really delivering the region to China at the moment." Just about sums it up. Hopefully, those countries forced to align with China will also negotiate environmental and other important health, safety, and democratic protections.
14
I'm curious about trade imbalance and the population factor. How can a country of 83 million (Germany) or 18 million (Chile) be expected to buy as much - in general - as a country such as the United States with a population of 330 million? Why are population numbers not factored in?
25
They don’t buy as much because they’re smaller. But they don’t sell as much either. Size in itself shouldn’t imbalance trade.
Factored in in what way? Keep in mind that being the third biggest population in the world means there are more Americans to produce as well as to consume.
Germany doesn't trade on its own. Only as part of EU with a population of 508 million. The EU is the largest trading bloc in the world.
Sadly, we Americans as a whole are uneducated when it comes to economics. Then there is also the fact that economists disagree on just about everything, including trade and deficits and debt. Add on top of that the political aspect of Democrats versus Republicans and who knows what to think anymore?
The bottom line is to look in your own wallet for an answer as to whether restrictions on trade, including the labor trade (where stuff is made), makes a difference. Look at the cities that were once great industrial centers and are now depleted ghost towns riddled with crime and poverty. Look at how cheap steel is relative to how much it costs to construct it. Look at the fact that the US has become a service industry labor market. Also, take a look at how much the US spends on its military relative to other countries. There is a lot that can be done here, budgetwise, but propping up artificial markets in the name of "US-first" does not seem the best way of going about it.
55
It is plain that American "workers" have gotten a raw deal, in the world of "workers," in terms of wage growth (stagnant, in essence) and relative job security, and in education, and confidence, for the last forty years or so. This seems to be some plan or scheme by the Republicans to weaken the working class and the Democrats, and this is accompanied by lies to people (mostly Republican voters) who are too foolish and ignorant to see through this nonsense.
The issue is that the "rich," meaning the owner/managerial class, has abused the trust of the American workers for the last forty years or so, if not longer, and enriched themselves at the expense of the country as a whole. This is a gross betrayal of "the People" by those people of the owner/managerial class, and by those people from that class they elected to government offices and power, mainly Republicans, who have held government offices and power, for the last forty years.
Promoting the idea that the government is the enemy, and incompetent, and deceitful is the technique and language of liars and traitors to the country, as a Republic, and as democracy. The USA has been ill-served by its elected leaders for many years. Trump only lacks to skill to keep it hidden from view.
53
And to add insult to injury, American workers are not sytematically trained to be competitive with workers of other nations. Learning on the job and in high school courses is totally insufficient to prepare young people or those who want to develop their skills. Adopt the European apprenticeship system, the possibility of taking employer-financed courses to keep ahead of developments. Workers are an asset to any company and should be valued and respected for that very fact and given the chance to reach their full potential. THAT would make America great again. Employers, you sure would be helpless without your employees and workers.... Consider that, and give them what they so fully deserve. I'm no Commie, just someone who has had extensive contact with workers and their families and deeply respect them.
Decline and fall....same story in UK with government enforced lethargy. Example: London property market owned by wealthy foreigners. Then conveniently blaming European Union with BREXIT to be delivered with EU trade tariffs after March 2019 to seal the fate of the nation; daft and dafter.
It's fine with me if they want to race themselves to the bottom. Everyone knows that these trade deals are all about higher stock prices, big fat paychecks and bonuses.
12
Who will be "at the bottom" will be the USA....from First to Last.
"Everyone knows"? No - you think that way so you assume and project that everyone else has the same wrong ideas.
In the area of trade, Trump is demanding absolute sovereignty. This is no more, no less, than a form of theocracy, with Donald Trump as god.
35
Exactly. It goes to his deeply flawed personality, not the merits of the argument.
Just a reminder that Hillary said she would pull out of TPP if elected. You may believe that she was lying, because she was a well-contributed globalist at heart, but she said it. Oh and don't forget Trump won on his consistent approach to trade (unlike Hillary's).
13
Just a reminder that H isn't president. And a reminder that just because people voted for Trump doesn't make his views well-informed.
She had to say that because Bernie forced her to by refusing to end his campaign until she agreed to get rid of TPP. Lets not forget the Kremlin was also trying to help Bernie.
“Trump won’t last forever.” Right, it's going to be a 2.5-year patience, or maybe even shorter.
15
Nice work, Trump and Republicans! Turning the world against the US in a global trade war of your own creation.
May the elections in 2018 and 2020 bring serious and lasting relief.
55
Wait, didn't Bernie and Hillary also oppose this deal?
So glad my parents are not alive to see this. Such a waste of American honor, all so one psychologically damaged individual can convince himself he's a manly man.
60
Trump unites our nation's allies -- against our USA.
56
yeah, pretty much.... "America First" is "America alone and last"
Yes, the President is an economic dimwit. But avid protectionists Hillary Clinton and Bernie Sanders also harshly criticized and rejected TPP. Why isn't that mentioned in the article?
19
Because neither of them are president.
1
Agreed.
From the other side do the world, when I saw Trump, Bernie AND Hillary campaigning on getting the US out of the TPP, it seemed surreal. Honestly, America is deeply respected for many things, but the old world American ego does not seem to be handling the rise of the East very well.
17
Bernie is a believer. Hilary sold her soul to get elected. Trump doesn't have a soul.
17
The USA doesn't kneel to the other countries.
Globalism is akin to the European Union which is breaking apart.
The countries that think they can do business without the USA are living in a daydream.
4
That's breaking apart not due to free trade, but because of the free movement of people across European borders. The TPP does not have such a stipulation.
16
And actually I ought to add.....the EU is not breaking apart.
it is dealing with 'pressures'.
17
Frankly, from where I sit, as a country, America is much more divided within its own borders than any country within the EU and outside of Brexit, it is anything but breaking apart, in fact in terms of its policies the major players are growing closer together. Also if you did not notice, it is Trump that is making the decision to restrict business with other countries, NOT the other way around. They have just decided to make "other arrangements".
The world is changing Steve, get used to it. Contrary to your rather condescending(and uninformed) opinion, the world does not revolve around America, at least not anymore.
The Chilean grapes my wife buys during the winter from Trader Joe's are usually kind of sour anyway. So I guess I'll just have to switch to eating more Washington state apples. Somehow I doubt I'll have to fear for my survival as a result of today.
9
Chilean grapes I have eaten recently in NZ are amazing. Nothing sour about these..
I'm not quite sure how they produce them in what seems to be off season..but they do.
Didn't Hillary Clinton announce the same policy? By which I mean, didn't she announce that she would pull the US out of the Trans Pacific deal? So presumably we'd have the same headline whether it was her, or Trump (or even Sanders). So it's a bit useless for Patricia Navia to say "we won't have Trump forever". Obviously not but this policy seems likely to persist until a true Republican (one who believes in free trade) is in the White House.
9
Claiming that you will pull out TTP (or do this and do that) during a campaign is all part of campaign rhetoric when you are (not yet) in a position to do so. When you do get elected you sit back and overview the situation and do what is best for the nation. And that is to get back at the table and renegotiate the best deal possible. That is to tell the steel (and other heavy) industry to innovatie and become -quality and environmetally wise- the best in the world as you once were. Dont just handover tax cuts but make em work for it; first create jobs and prepare for the future (longer than one year). As an old Dutch proverb goes "Cost proceeds Profits" and Profits need to be earned with hard work.
Any businessman that has had as unsuccessful of a track record in business as The Dolt, would want tariffs and preach the protectionist mantra. Well, we live in a global economy and yes!, a global society. So, why would you want to cut off your nose to spite your face? All those that did vote for him on the premise(s) of re-opening shuttered factories in businesses that can run on less manpower due to automation/computerization while promising to bring back all those "good paying jobs" are going to reap what they have sown; and it is not going to be pretty. The factories are still going to stay closed while those jobs will never come back.
33
Hoping NYT will track economic and trade performance indicators on Trump’s Deal if possible. Likely the original Deal will change quickly and often.
7
Well, DJT did say he’s flexible - that way nobody can count on anything he says.
Mr Trump's tariffs are only to help the GOP in certain states with legacy, uncompetitive industries, like steel in PA.
Overall it will cost jobs and lessen our strategic power worldwide. But Trump don't care about that. If Obama did it, it must be bad. Sad!
27
Actually the TPPA started off as a free trade agreement between Chile, Singapore and New Zealand. And then it expanded from there. We are more than happy the USA are out now as the last agreement would have put huge restrictions on our Pharma and Dairy industries and curtailed our ability to control foreign ownership
13
A lot of great things come from New Zealand!! Cheers mate!
8
New Zealand is a small but very innovative nation - one of the best pound-for-pound fighters about you might say. It survived Britain's entry to the Common market in 1974 (by diversifyng its product range and finding new customers, including Chile, China and Russia) just as I expect Britan to thrive from its departure from the EU by doing more or less the same thing.
"A lot of great things come from New Zealand!!"
Yeah, but Neale was talking about the TPP.
The author focuses on Donald Trump's opposition to the original TPP, but Hilary Clinton and Bernie Sanders both promised to take the U.S. out of the deal. And their opposition was based on the same pro-worker populism as Trump's, with a bit of environmentalism thrown in.
It seems the protectionist reflex had already been triggered in the U.S. when the last election began, and all the candidates responded to it. Being a fresh, unconventional option, Trump just benefited far more than establishment candidate Clinton from the backlash of grassroots resentment and fear over globalization.
To make matters worse, Barack Obama promoted the TPP to counter China's growing influence in the Pacific. That geopolitical logic found little purchase with the millions of U.S. voters worried about American jobs going overseas.
Countries like my own, Canada, feel the critical need to address gross inequities in how the vast wealth generated by globalization is being distributed, but they're committed to doing it within the framework of globalization, not pulling out and trying to reverse history. The U.S would be where it is today on TPP no matter who won the last election; the question no one asked was "what then?"
26
H Clinton, Sanders, and Trump all opposed TPP. The President ran against it in the election, won, and is carrying out his mandate. For democrats that support organized labor that opposes this agreement, I am surprised with the negative feedback.
4
“Countries will return to a path toward globalization ..." but the US will come late as a supplicant and so not get as good a deal. Hooray for everyone else!
9
I’m willing to bear some economic pain as a consumer just to see all these American industries — run and staffed by conservatives — squirm as they are shut out of global trade. I say to everyone, from the CEOs to the workers: many of you voted for Trump out of greed or ignorance, or both, and you are now getting what you deserve. Think about what you’ve done to this country when you go to the polls in 2018 and 2020.
73
I was thinking the same thing today. It's something I'm going to enjoy watching.
4
Anything to be right, eh? That's true desperation wishing Americans will fail just so you can prove yourself right.
In the run up to the 2016 election a story appeared in the Sydney Morning Herald detailing a visit by Australian diplomats to campaign headquarters at Trump Tower, after Trump became the nominee - something that a lot of countries do (visiting a country's prospective leader in the lead up to an election) - and so they also visited Clinton headquarters. The interesting part of the story was that the Australian delegation said they had delivered a tender but important message to Trump's team given its protectionist, nationalistic messaging - it was to the effect (and I won't use quotes because I am paraphrasing, but the gist of the message was.....---I don't know if you are aware of this, but...um....given all the things you are putting out there in the campaign, we feel it important to make sure you are aware, well.....we don't need you.---The Australian team, certainly when it came to trade wanted the Trump team to at least be aware it was not the 1950's, Asia has in fact boomed, and well..everyone else can do it without the US. If Trump thought he had a card against other nations, he would be sorely mistaken.
All this is true.
It is a HARD message to deliver, but true.
AT THE SAME TIME, we want our reasonable brothers and sisters in America to find hope, be well and know, you have a apace at the table whenever you want to return. Come back soon.
63
American workers also opposed TPP and so did
Hillary Clinton. Obama had a political objective to keep
China out. He couldn't garner much support due to the secrecy surrounding the negotiations. Labor fear was that many jobs will be lost to low wage countries like Vietnam. Economic case for TPP was poorly made by Obama. China could be contained by other means. Americans need to save
more and restrain the consumption. Compared to Chinese
American savings are minuscule and this is the root
cause of trade deficit. An indirect benefit of trade
deficit is the dominant role of dollar. Foreign countries
like China, Japan, Saudi Arabia, Taiwan earn lot of dollars
they use for international trade. Dollar as an international
currency offer us many advantages. Let us not throw the
baby with the bath water. Trump team need to understand
all the ramifications and tone down campaign mode of
the president.
6
Obama was not trying to keep China out. They are not a threat, but a huge opportunity. Obama was trying to 'set the rules of the road'.
15
EC:
China is not a "threat"? How idiotic and hubristic to think you can dictate the rules of the road for the entire globe.
The President just signed the death nail for the steel industry. When these taxes prove unworkable and they are removed scores of steel workers will be terminated and the last factories will close. That’s because American industry won’t change like it should and not as fast as it should. Milking a technology-dirty energy-until there’s no more is not a plan it’s a disaster waiting to happen.
29
"Mr. Trump withdrew the United States from an earlier version of the agreement, then known as the Trans-Pacific Partnership, a year ago as one of his first acts in office."
I wonder how an individual who hardy reads anything and is incapable of doing any analysis can conclude that the Trans-Pacific Partnership (TPP) agreement is not in the US interest. One can speculate that someone has told him that and he is simply parroting it.
Even for those who do read such documents regularly, have the right background to understand it, have access to all economic statistic needed to do a careful analysis, it is still difficult to state definitely that a particular country will be economically harmed by TPP. But, one can confidently say that TPP removes many economic barriers and that opens up the space for all participants to improve their economy (think mathematical optimization). In other words, all countries involved get the chance to do better.
One can define different criteria for assessing the impact of an economic agreements such as TPP for a given country. Obviously, when examining a national economy, focusing on a particular economic sector is misleading, as some sectors do much better than others. Furthermore, time is a critical consideration. A sector that may do poorly in the short term, could do quite well in the mid- and long-term.
I short, only an utterly ignoramus individual does dare to dismiss a complex agreement such as TPP with no reservation.
9
Eddie, Trump's decision had little to do with what is good for the country and everything to do with his inability to deal with a trade agreement that comprises more than two paries - the US and a weaker counterparty.
And that's why he will NOT take the US back to the table and why the US people will hav to wait until 2020, or hopefully November 2018.
In the meantime, this development does not look good for the US, particularly if China joins.
7
It's nice to see collaboration among so many countries. This looks like governments doing their part to grow their economies, and to reduce or remove restrictions holding back growth around the world. I just wish there was a magic solution that didn't create winners and losers. The overall pie will grow, but some people will be left behind.
Yea .. we, the USA will be left behind
Well, the results of this ill advised,conceived in a rage idea will start having its impact in the fall, just in time for the mid-term elections. Good. Democrats can use all the help considering they have to defeat republicans and their bottomless sacks of money, Trumpism and Putin. Yes, good, but just a shame the country will have to suffer some to get there.
10
So, a full blown war. We are going to be tired of winning before too long.
3
We have relatives in Europe with newborn nephews and nieces.
For a visit, we where planning to bring some nice gifts from the United States (MADE IN AMERICA!)
We could NOT find ANY!!!
So why do we need any trade agreement?
8
What a missed opportunity to counter Chinese economic expansion. I'm tired of all this "winning"......
11
I can say from Experience as the Sales Manager for a Chinese company for 4 years managing North and South America...the Chinese are crooked.
I spent more time apologizing to American software and Hardware companies for the software and hardware patents that the chinese company infringed,...then selling to customers.
Thankfully, they went back to Asia where rip offs are the norm.
6
I thought you were going to conclude your remarks by explaining why trump,is attacking the US's allies, who in the main do not infringe US software and hardware patents.
But regrettably you didn't.
6
The idea that China was going to play by globalists' rules was always pure fantasy. Trump has China's number.
Our President is a failed businessman whose only real career success has been as a reality television 'personality' and 'brand.' In the White House, he aims for 'good television' and 'great ratings,' not sound, rational policy.
That's what a minority of the voters in 2016 wanted; and that's what all of us have now got to endure. The future consequences of these Made for TV policies remain to be seen, but the signs certainly are not good.
We have ceded influence in growing Asian markets to China and others. We have alienated European allies, who are taking steps to move forward without us.
At home, we have a downright asinine 'tax reform' that boils down to buying votes and donors for the 2018 and 2020 elections, while blowing up the deficit and undermining the Fed's effort to tap the brakes on a full employment economy. We have no rational solution to pressing needs for health care, gun control, an epidemic of opioid addiction. We have an immigration policy that will leave us with an aging population and little new blood to power the economy, and that will further isolate the U.S. from the rest of the world.
If we keep winning like this, the United States can aspire to something like the happy condition of not so Great Britain in the decade after World War II, up to and including the Great Smog of London, given our current President's love affair with 'beautiful clean coal,' rejection of science and distaste for environmental protection.
I'm not feeling great again.
26
The not so 'Great' Britain - we had a legitimate excuse post war, a country bombed to bits and in hock to you guys. Today, we have no excuse for our own decline to populism. The London Smog is nothing in comparison to our latest travesty of lunacy headed by a similar bunch of ideologues as your GOP. The common denominator is neither lot listen to common sense and reason.
10
Crazy, but I think this is Putin's work-alienating our allies and undermining our economy.
11
Love the Allies move.
Trump needs to be shown reality.
4
Hope Hicks quits and now this. You can draw a straight line. It's a tremendous hissy fit at everyone's expense.
4
The fact that US allies are marching at their own beat proves this megalomaniac doesn't understand foreign trade. He thinks it's the same as a beauty contest.
17
He certainly seems to have some mistaken idea that nothing much in the world can happen without the US..
Trump claims to be the best negotiator ever. There must be major negotiations within the fading Trump empire, because beyond that there's not much of anyone else left that he can negotiate with.
8
A hearty thank you to all the U.S. allies who are resisting, if also outright rejecting, Trump's disruptive new trade policies, including their economic-unfriendly tariffs.
To you -- and to all others around the globe who are dismissing this rogue president in Hordes -- you are effectively helping stoke our midterm elections heavily in favor of our own Resistance: mass Democratic victories.
Thank you.
45
My sympathies to the millions of voters who did not vote for trump and yet have to suffer the consequences of his ill conceived and badly implemented "policies". Even if trump "makes the decision" to reverse his stupid tariffs next week, after the PA election, with any luck after a loss by the GOP, the lines have been drawn in the sand, and the US is, unfortunately, on the wrong side of the lines.
54
Oh, yes, Reagan, who talked about welfare queens (and always meant black women, even though more whites than blacks are on welfare), convinced us that greed is good, broke the backs of unions, so that we've had wage stagnation ever since, threw away the solar panels. And how wonderful to have a president who wants to deastroy not only our environment, but that of the whole planet. Yes, Trump really has what it takes. To ruin our country.
10
We are not "leading"; we are betraying our country. Like it or not we ALL live in an interconnected, interrelated world. We will be the losers. Trump is a LOSER and is dragging us along to the bottom with him.
So what is it that everyone thinks Reagan did well? Iran-Contra? Deregulation? (hey, look at the airline industry today and tell me that deregulation was a positive move). He seemed like a nice guy (he actually was in the early stage of Alzheimer's) so everyone applauds him. Actually history will show he was the first step of the downfall of the United States of America since he (actually his handlers, like Cheney) had no respect for the institutions of government and wanted to move to the autocracy we unfortunately are seeing today.
While I do not wish to see my country left in the cold of global commerce, Europe and our other trading partners would do our democracy a favor if they proceeded with their own trade agreements, like they are proceeding with their climate change agreement that Trump pulled us out of. Our rash, egotistical bully president is creating havoc in every one of our institutions and somebody with more clout than blue state voters and Robert Mueller is needed to teach him some humility.
30
Could Canada and Mexico substitute their participation in this revived T.P.P. for that currently accomplished in N.A.F.T.A., essentially abandoning any predominant trading ties with the U.S., while simultaneously raising barriers for our continued trading with them? In essence, these two neighboring countries would be casting a vote of "no confidence" in their future economic interactions with the U.S.
14
Canada signed TPP today, a trade deal with the EU a while ago and is looking into further trade with South American countries.
Time to diversify
18
"... Chilean officials said Thursday that China had signaled that it may want to join." If China joins this trade pact it will cover two billion people and a GDP higher than the U.S.
Wait until the EU decides to join. Oddly, or maybe intentionally, that leaves Russia and the U.S. to swap stuff--missles for tanks, m4s for AK-47s, sarin for plutonium, potatoes for bourbon, etc.
22
Will the next step be allies tossing out our military bases?
6
hope so... a win win. the US saves money, and we are not slaves.
3
The irony is lost on the corporate media: after ridiculing Trump’s tariffs, laments the loss of the US-involved TPP which included a bonanza of prolonged patent periods for one of Obama’s biggest buddies, big pharma.
Last year the media rightly expressed indignation that big Pharma is forcing India to stop producing medicines for $200 which big Pharma is charging $10,000 for. This is, in effect, a huge tariff but the corporate media cannot connect the dots.
5
I can't take so much winning! - buy everyone else.
5
The TPP is a good deal but it's funny/sad how many of the comments support it. Back in the election, politicians were derided if they supported the TPP. Seems like it's easy to be swept up in the moment and avoid critical thought.
5
If Trump's for it, they're against it. His critics have the maturity of teenagers, if that.
Trump Imposes Tariffs in Challenge to Reality. Reality Responds.
7
Contrary to what he says and no doubt thinks, Trump is making this country the United States of Irrelevance.
18
All those Trump-voting Republicans in the fly-over states will regret their vote when they have no markets left to sell their products.
12
Why do we keep agonizing over Trump's twisted reasoning? This is what Putin wants. He got his Secretary of State, and this disaster is great for his long term plans. Stop trying to understand Trump; he's just Putin's front man. It all makes much more sense when you see the real picture.
59
I do not see a strategy behind Trump’s tariff announcement beyond the “I can do it” attempt to boast about the seemingly unlimited power of this President. These tariffs do not increase the competitiveness of any American company anywhere in the world - but here at home...totally ignoring that the most famous American exports are depending on high quality steel etc. Would make more sense to give generous tax breaks to those industries the administration now considers to of existential strategic importance. This Trump move has “amateurish” written all over it!
23
I guess the 13% tax break was not enough.
2
Protectionism = saying half a trillion dollar trade deficit is fair to us.
1
The word "fair" in regards to a trade deficit that we created suggests either a lack of knowledge on globalization's history or narcissism. Amazon, Walmart, Target, are examples of American wealth built on the model of outsourcing. American corporations sent their work overseas in order to lower prices in the US and increase profit. The fact that these other Nations took that gift and used it to fuel their own economies only shows savvy on their part. Now Trumpies decry outsourcing as unfair and points blame overseas. We sent the jobs there. We built their capacity. We benefited by lower costs and increased capital (some of us). The culprit here isn't China, it's our own American and Western corporate model. Stop looking for scapegoats. Read more about the beginning of the free trade debate about outsourcing which began in Britain in the 19th century. Help us develop a new model that provides more US jobs. I'm so sick of hearing you cry about these mean other countries, it sounds like a spoiled child. Be critical of US corporate ethics. We aren't victims, we are enablers.
37
I totally agree! Why are American companies not held accountable
for outsoucing? Call customer service at any airline or cable company and you talk to someone in Manila or India. (Looking at You, United Airlines, Comcast Cable) American companies who want cheap labor abroad are guilty too. Why blame other countries for business practices of our American companies? Do people expect foreign labor to actually say, “ Oh no, we don’t want these jobs”
If U. S. business hired here (even at a higher wage) more people would have jobs which creates disposable income to buy products made here. Sometimes fast nickels are not better than slow quarters.
11
Is very true. No different to Ivanka outsourcing her products to China. She is most certainly an enabler..enabling herself to make huge money. Not employing Americans other than retailers and distributors I guess.
No money going where the mouth is in that clan.
Obama created TTP to counter China's dominance in the Asian market. However, rather than re-negotiate a better deal for America Trump pulled the US out of the pact. Not only did the US lose a leadership position at the table, Trump has just given the entire growing Asian market to China. This is NOT the behavior of a "great negotiator".
48
He is a person who acts "reactively". Makes a gut decision rather than analyze the situation then adjusts his dictates based on the reactions he gets. That is apparently what his base wants even though, for the rest of us, he is making us a country increasingly being left out of world decisions.
5
Churchill encouraged what he suggested be a "United States of Europe" to bind Europe so tightly together that to start another bloody war would be to commit economic suicide for each nation member. Trade deals can be about so much more than economics.
Had you stayed in TTP you would have had a much stronger negotiation position with China regarding North Korea as the head of 40% of a world trade agreement. Whilst powerfully encouraging them to trade by US standards. To your own benefit. Trump seems to think in one dimension and to one audience.
10
He, like nearly all of his supporters, is incapable of analysis or understanding abstract or complex ideas.. Analysis takes a higher level of intellect. He simply can't understand the arguments of economists who say that trade deficits are not as big a problem as they might appear to be.
While Trump continues to be backward looking where trade is concerned (well, and almost everything else of importance), our allies are forward looking. We will suffer, they will prosper.
21
Not our first choice in Canada.
But the current situation sadly illustrates that we have no other alternative but to rapidly diversify our trading relationships, even if economical common sense would militate for even more integration between the US and Canada.
It is becoming more difficult to trust the US for other countries in North America and around the world.
In Canada, we have just been threatened with tariffs on steel and aluminium on the basis of national security arguments.
Seriously?
A couple of days later, it would seem that we will be exempted from such tariffs on the basis of national security arguments.
What happened in the meantime?
The US DoD is of the view that there are no national security arguments here. Only 2 percent of the already existing US production is needed.
Car parts cross the border several times before being incorporated into cars. Car parts are made of steel and aluminium amongst other things. This crazy decision would have disrupted supply chains for months.
All of that to win a single election in PA?
65
Not our first choice in Australia either, but Trump leaves us with no choice. He is just unreliable, how can we honestly sign any deal with a person who breaks deals on a regular basis and tweets policy on the run?
He is pushing the Asia Pacific into the arms of China. Recently there has been a lot of anti China sentiment in our press, but I don't see our country having any choice in terms of trade and prosperity. As for other Asian countries, well culturally they are probably closer to China than the US and they too will face no choice.
How can any country rely on Trump for anything?
35
Remember President Trump, you said trade wars are easy to win. Now get in there and fight and show us how it's done!
This may be for the best in the long view of history. The globalism and open trade policies espoused by the allies after WW2 is being embraced by the world while the US economic empire begins it’s self imposed decline. All empires end. Sometimes by suicide.
38
Using membership in the CPA-TPP as an inducement to improve worker rights and safety in participant countries is the only really secure way to protect workers at home.
8
Have you seen our Commerce secretary.? He's sleepwalking through cabinet meetings. Who is going to push for this while the administration is awash in chaos. Trump? Mnuchin? There's no one left with any heft to make this happen and it would be good for American if only as a counterweight to China. Cohn should have done this even before the awful tax cut he put through.
13
Most rural communities voted for Donald Trump. You get the government you vote for....and the consequences of that vote.
23
Rural communities are most sensitive to immigration as propaganda, so that's why this line has railroaded US since the 1800s. To divide native and immigrant labor while the railroad and all its elements eats their lunches.
This is the Farmer vs Industrial Worker story. Morgan used to work the farmer side of it, while his buddy Thompson worked the miners he employed, mostly immigrants. Together they got their workers worked up enough to stall most efforts to solve either's equation. Perfect blow off of steam with no locomotion. Divide and debase.
5
Spot on, you get the government you vote for since elections have consequences!
1
Unless the USA starts manufacturing again the rest of the world will own all USA's assets. I'm not ready for the rest of the world to tell us what to do.
We are the 500 pound gorilla and if anyone wants to go into trade wars with us I am unafraid. If foreigners want trade access to the USA, let them manufacture here and then we'll ship things to their countries and have a trade surplus.
Why are so many Americans scared to compete? Why is our government scared to compete? Are foreigners paying off our government for their benefit? It makes what the Russians are doing to our elections child's play. Manufacturing is real wealth, importing is consumption. Let's get the program on straight!!!
4
You need to ask your companies why so many of them went offshore to manufacture. Are they not Americans and do they not think about Americans first or is the thirst for profit for a few more important than jobs for the many
13
@Richardthe Engineer
While manufacturing is indeed valuable, there is a false belief it will create large numbers of the kinds of jobs we lost 20 years ago. The factories we are/will be building require STEM skills, not manual labor skills.
I advise startups that are building AI, NLP, computer vision and robotic systems. One many that integrates many of these technologies has a pilot facility the size of a football field that will be filled with robotic systems dependent upon computer vision. The efficiency target is no humans on the floor during operations so as to reduce costly errors. This one building will generate well over $1 billion a year in revenue when it reaches scale capacity.
Yes, there will be very good paying jobs for the mechatronics engineers - $250K a year just out of college. Mechanical, electronic and software engineers will monitor and maintain operations, earning 6 figures. There will also be some jobs for low skilled warehousing and cleaning, but these will be about 20% of headcount.
The factory jobs held by my former blue collar neighbors in the rust belt 40 years ago, or my in-laws 10 years ago, are not coming back, and suggesting otherwise is perpetrating fraud.
Rather than retraining coal miners to become solar installers we're teasing them that they have a future in mining. That is a cruel hoax.
51
You need to read Paul Krugman, specifically "Trade Wars, What are They Good For . . . Absolutely Nothing", and lose the 500 pound gorilla metaphor.
7
The United States has lost its moral compass. At this point, we've become a country that panders to the elite. To placate this class of greedy folks, we've shown our willingness to give up healthcare, gun safety, and the health of the planet. For our highest leader, we've elected a habitual liar who colludes with our arch enemy. If this is the way we do business, then we can only hope that other countries take charge and lead the way.
35
A massive majority think Trump is morally misdirected, but he doesn't care. He is the moral failure, not the majority of Americans.
6
Too many American voters have treated elections as if it matters little who is elected. They think that little changes, and the sun comes up the next day no matter who is elected. So why not stir the pot and elect a TV celebrity? Why not create a kind of reality game show?
Many will see what kind of adverse affect this will have on the environment and the economy. Many will learn that there are consequences for casting a foolish vote for an unqualified candidate. Our loss of leadership in the world will not be quickly recovered---if at all.
The GOP and the Dems need to provide better candidates.
16
Scrambling to do something, even if sloppily to be on TV, reminds me of how the space shuttle blew-up at launch, on a borderline too cold day, so that Reagan could talk to the astronauts in space during his SOTU address that same night. To Republicans, good TV takes precedence over having a bad outcome later.
17
Mr. Trump is killing the U.S. economy. His delusional behaviour that the world cannot survive without his trade deals could not be further from the truth. Major trading countries are sick and tired of being sick and tired with Mr. Trump's bizarre and unpredictable approach to trade agreements. This amalgamation of countries to carry on with business as usual - minus the U.S. - is testimony to that fact. How can one deal with an erratic Mr. Trump who's running the U.S. like one of his corporations? Not to mention the president has not yet realized this planet's trading countries do not revolve around the U.S. Unfortunately, Trump is drowning U.S. citizens in his sinking boat. The glory days are over for the U.S. We are dealing with a new-age of economics that could care less if the U.S. was involved in the broad picture.
29
So Trump is leading us into isolation like the emperors who led China into decline hundreds of years ago.
13
Trump is no student of Lao-tzu, that's for sure.
3
Backing away from TPP and abandoning 500 Million customers will go down in history as the thing that pushed the USA off the world stage and left the door open to an ascendent China. Unfortunately we elected a small minded person to the WH that is unfit, unprepared and deeply flawed. Our children will pay a horrible price.
25
This is a symbolic polictical move measure, frankly, we don't import that much steel. The better way of attacking the trade imbalance is to negotiate with our trading partners and demand that they lower their import tariffs on our goods to a level equal to ours. That seems fair. I don't think the USA needs the rest of the world as much as the rest of the world needs us. The psychotic rants about Russia and conspiracy are reminiscent of the same arguments the right made against Obama. We have got to put politics aside and do what is in the best interest of our country and our future generations.
3
US steel consumption exceeds US production by 30%, give or take 3% depending on year. So we need to import about a quarter of all steel used.
6
Agreed. There's a lot to criticize in our trade arrangements, but people cannot get past their animus toward Trump to see it.
In my humble opinion, Trump betrays our country everyday as he heeds the wishes of the Russian and Chinese interests that own him and his family.
19
It would appear that the Trump era will be remembered as the point at which the US was forced into a self centered turn into itself, Not a problem if this were 1840, but the world is now a far different place and EU, China, Canada, Mexico and India will likely no longer want to allow the US to call the shots. They are going to create g their own trade deals which are y not be to the advantage of the US and its also clear that the feelings of resentment and lack of cooperation means a new world order,
Many of our industries will run the risk of shrinking and loss of jobs,
All empires have their zeniths and we may have already passed ours,
16
The whole point was, as this article says, to counter China's market fixing and currency fixing, and land grab, power grab, with free trade. Vietnam makes things cheaper now. But Trump is so simplistic he didnt get it. Now if China joins its power will be enhanced and the US's diminished.
6
A reminder is in order that the TPP, as negotiated by the Obama Administration, was considered to be deeply flawed and was widely criticized for containing major giveaways to special interests, among other issues. Economic progressives, by and large, HATED the TPP, and Rust Belt Democrats hated it with an especially strong passion. When it was brought before the Senate for ratification, it never got a vote because even Senate Republicans, who have consistently backed free trade more than their Democratic counterparts have, were strongly opposed.
My point in stating this reminder is this: the fact that President Trump is also against the TPP doesn't suddenly make the TPP a good thing for the U.S.
5
One of the progressives big complaints was TPP was all being done in secret - who knew what was in it? Not even my congressman could tell me when I spoke to him. And progressives did not feel NAFTA worked all that well so where were the assurances about TPP? But you are right to keep a bit of a perspective.
2
The TPP needed adjustments - no scrapping. Yes people opposed it, but how many of those people were engaged in knee jerk reactions rather than a full assessment of the ramifications of the agreement vs inaction.
Trump unites the world, including our allies, against our USA.
13
This new TPP is encouraging and there is no reason to think the pact will not flourish and draw more entrants even if the United States stays out.
3
I spent a show feeding Phil in Saigon, and follow about a youth on Youtube who lives in Hanoi, and boy, is Trump ignorant of their youth market. I love the level of energy and humanity, so happy and foward thinking. The opposite of his othodoxy.
2
The article gives the impression that without the US the deal is not very good. Pardon me, but frankly the world is moving ahead while the US and Trump sit and bluster and make like the other countries need them. Well, yes be like the UK and Brexit that Trump shouted was fantastic. The reality is now the EU does not need the UK, but the UK needs the EU. Trump is a rather dim bulb and his followers love chaos, but guess what business people large or small like stability and the majority of people like it also to know and have some idea of where matters are going. The cuts over the years to US health, education, infrastructure have taken a toll and now even with the immigration laws altered students coming from other nations to study in the US are declining drastically. Last week Trump whinned on hand how this deal was not a big deal and the then the next day said maybe the US would like to be part. Guess what you had your chance and pulled out. To bad. There are new trading blocks Canada has the Pacific one, deal with the EU, India and one with China coming up. A side note as one European economist mentioned the US citizens do not save, but spend and consume and then whine about their balance of trade. Of course China has this massive trade surplus because Americans shop till they drop. Also say Rubbermaid began making bins in the US, but due to labor costs they would be twice as much then lets see how many Americans would buy them. Products, but cheap. Jim Trautman
14
Can Americans make a $10 tee shirt? No? I thought not. just watch a few home reno shows and see how many Americans feel entitled to closets that are the size of 1960's bedroom. It's supposed to be cute that the women have 100 pairs of shoes. The American dream gets crazier every decade.
7
It mystifies me that Trumps supporters fail to see that they have been doing the bidding of Russia and other outside state actors who want to see a weak stupid ineffectual leader at the helm of the US. This trade deal is just one manifestation of that decision. Others will follow and if it goes on for long the US will be relegated to the back benches and eventually the history books. If this is what passes for American leadership then I say good riddance.
27
coming out of Egypt will not be easy!
2
Any tarrif should be applied only to China and Russia. It’s a big mistake to punish Western trading partners, or allies in the East.
8
I may be wrong by a couple of billion but we already have a 59 billion dollar trade deficit. How are these rigid, ill thought out policies helping Americans? Stupidity from the top down with us on the losing end AGAIN. So frustrating to see this happening every day in real time.
9
Buying into globalism requires people to delude themselves, believing it's more important to get along and be liked than it is to protect their own interests.
So happy for our neighbors and allies. There is no Planet B, and if they do a good job with this one, then we will survive as species and as a worthwhile species. Maybe America can rejoin the world someday.
10
MADA = Making America Diminish Again
8
“Trump won’t last forever.” True. But the damage he's doing could.
8
After they got rid of Julius and Mark Anthony, Augustus held on for a much longer peace. I'd keep my eye on my senators, Trump.
Wow before Trump was elected all y'all hated the TPP. All of sudden all you liberals seem to love the TPP.
I think it just goes to show, Democrats don't care about the working class or class politics at all. Unless you are a minority or an illegal immigrant the Democrats could care less about your vote.
Keep up the globalism and open borders there Democrats. I'm sure you will earn so many votes...
4
None of the Republican policies passed on Trump's watch have benefitted working Americans. Universal healthcare, living wage, Social Security, solid education, protection from unscrupulous bankers - these are the policies that Democrats espouse to improve the lot of the working class. You cannot cite ONE Republican policy of similar import. Workers must be duped by propaganda to vote Republican against their own interests, which they've done since Reagan. It hasn't improved their lot in over sixty years, so good luck with that.
13
you must feel a great sense of responsibility speaking for tens of millions of liberals - thank you for taking on such an enormous task.
8
We are all on this earth together. We will survive or perish together. It's better to make it more pleasant for all an not just a few,
2
If you look at this through the lens of Trump being Putin's puppet, it all makes sense.
Trump is actively decimating America's global standing, traditional allies, trade pacts etc thereby handing Russia and China control of the world - with the complicity of a completely spineless and self-serving GOP-controlled Congress.
19
"SENATOR BERNIE SANDERS:
THE TRANS-PACIFIC TRADE (TPP) AGREEMENT MUST BE DEFEATED
The Trans-Pacific Partnership is a disastrous trade agreement designed to protect the interests of the largest multi-national corporations at the expense of workers, consumers, the environment and the foundations of American democracy. It will also negatively impact some of the poorest people in the world.
The TPP is a treaty that has been written behind closed doors by the corporate world. Incredibly, while Wall Street, the pharmaceutical industry and major media companies have full knowledge as to what is in this treaty,
the American people and members of Congress do not. They have been locked out of the process."
https://www.sanders.senate.gov/download/the-trans-pacific-trade-tpp-agre...
Mr. Sanders was right.
8
Thank you, Gerhard, for sharing Sanders' reminder.
Unfortunately, there are countless other 'free trade' agreements
[TTIP, CETA, EPA, to name just a few], drafted almost in secrecy.
And when we voice criticism, 'free trade' agreement advocates call us
ignorant nay sayers, and want to make us believe that by opposing
such 'wonderfully beneficial' agreements we harm the whole world
as we stubbornly prevent progress and employment for all ...
Such agreements also allow big corporations to sue entire governments.
Philip Morris sued Uruguay, claiming the country's anti-smoking legislation
prevented Philip Morris International from making hefty profits.
2
Bernie will wind up being an extension of Trump. What Trump is doing now is nearly identical to what Bernie wanted to do in 2016. There's a reason the Kremlin wanted him to win and he's also the only other candidate that didn't show his tax returns or his medical records. He didn't vote for sanctions on Russia either! In 2020 he'll be 80!
It should be noted that Sanders, like Trump was being helped out by the Kremlin. The Kremlin only support candidates they think will weaken the United States.
Sanders also wanted to dump nuclear waste on poor Hispanic communities in rural Texas back in 98' and attacked womens reproductive rights back in 2017. Sanders also didn't vote for sanctions on Russia for meddling in our 2016 general election. Just because he was the runner-up in 2016 doesn't mean he needs to be the finisher in 2020. Warren is more progressive, more accomplished, more bipartisan, stronger on Russia and younger than grochity old Bernie.
I am stil amazed at the amount of rancor toward GOP voters as though they and their allies in congress are the only possible idiots to hold responsible for our lunatic Presidential policies. The fact is that it was our own Democratic voters who refused to vote for the candidate of their own party, the first woman nominated to run on the ticket of a major party. All the statistical reports I have read show that in both 2008 and '12, several million more voters cast ballots for Obama then for Clinton in '16. I know people who blew cash to go to Washington to "be-in" on the nations first black president's election eve blowout.
Suddenly, in 2016, millions of these once faithful Democrats were absent. Trump was elected by a minority vote and a majority of our "electors", about which it seems, almost no Democratic party members had counted on.
As a result, Members of the Democrats had the temerity to tell me they refused to vote for HRC because she was not a real "leftist" Democrat but that now, as they wanted money(again) because this time they learned their lesson.
The NYTimes was also culpable, as the information dispenser to the West and to Democrats-it predicted a shoo-in for Clinton. Thus allowing millions to carelessly vote for other candidates.
The GOP had less to do with the election than Putin who may have actually beenj the only illicit ballot cast that had any weight.
2
Would'a could'a should'a. There's not much we can do about voter turnout or choices in 2016. Except impeach Trump for colluding with the Russians, which won't happen with a Republican Congress. However, this, as well as every malignant thing Trump and the Congress are doing is on them and the people who voted for them.
2
Given two decades of Chinese economic warfare, I think Trump made the right call on TPP. They continue to lie, cheat and dump, not for short term profit, but to buy control of western economies. His organgeness, in all his stupidity, sees what the Wall St. bankers want us to not see. "Free trade" is all about short term profits by exporting jobs.
2
I don't understand your comments. China was not going to be a member TPP and wasn't even considering joining until the U.S. pulled out. TPP was an agreement between countries to counter Chinese protectionism.
8
Trump is complaining about prices set by markets. He is using the government to set a higher price with a tariff.
Labor is cheaper in other countries. Tariffs will not change that. Made in the USA means twice as expensive for many products.
Will the US absorb a 50% inflation rate to give non-market prices to Trump voters? Will free markets be discarded in favor of government-set prices?
The answer is no. The world is bigger than the USA. The year is not 1950. Many Americans will lose their jobs and American companies will lose their markets if the country follows this protectionist path.
Trump says he can dictate higher wages, lower prices and more jobs. Without a more educated, better trained labor force, he can do none of these things. Most importantly the market sets prices, not the dictator.
The market is bigger than Donald Trump. We are going to see an ugly trade war where we lose.
13
Another MAGA result....Making America Go ALONE.....
2
This isn't just Trump or his base, the GOP or its consistent flirtation with magical thinking. It's also about the left in the US, which fielded a horribly flawed and out of touch candidate no one really wanted, and its lack of realistic thinking about the very real decline in middle class prospects outside coastal big cities. Both parties have touted free trade more often than fair trade, and both have major donors whose business models depend on sourcing from non-union, zero social benefit producers, with no compensating quotas, tariffs or offsetting sales contracts.
Trump? He's all about destroying Obama's legacy because Obama pulled his leg in public. It is that petty; Trump has no greater depth. The GOP? All about power and wealth. Dems? Clueless and toothless, without the spine to have stuck by Obama, such as Schumer on the Iran deal. The choice is between money-changers in the Temple, or the Pharisees parading outside. Sad.
5
"A candidate no one really wanted" - Really? That candidate, Hillary, won the popular vote by 3 million, even with Putin's and Comey's thumbs on the scale for Trump.
5
I agree! I mean, people can criticize the financial agreement she had with the DNC all they want but that's not why Bernie lost. Bernie lost in spite of the news that the Kremlin was trying to help him win! She was the candidate most Democrats wanted to run before 2015, she won the popular vote by an even bigger margin than she did back in 2008! Bernie did worse than both Obama and Clinton in 08. CNN had an article about a non-partisan study that said even if you took out the superdelegates and caucuses he'd still lose. To this day majority of Dem voters don't want him to run again and quite frankly a secretary of state who helped bring down Osama bin Laden and was two term senator who wanted to get rid of citizens united is not a bad candidate. The problem is Americans couldn't tell the difference between fake scandals and real scandals and developed a false equivalency. You also had people who wanted to throw temper tantrums over Bernie not being the nominee by refusing to vote Clinton and Bernie throwing a temper tantrum for a month augmented the problem and created divisions for the kremlin to prey on.
3
Not one word in this piece about Investor State Dispute Settlements which are used by corporations to avoid following laws written by law makers. It allows Phillip Morris to sue the Australian government for putting graphic photos of diseased lungs on cigarette packages because those hurt their profits. We will have more and more authoritarian leaders elected all over the world because corporations are the real powers. And "intellectual property" can mean not making pirated versions of movies but it also means not allowing developing countries to make generic versions of life saving drugs for their poorer citizens. Think again before you extol the supposed virtues of these trade agreements. They are written by and for corporations and shame on the NY Times for never mentioning that fact. If it were just about tariffs that would be simple, just lower them across the board. This is about wealth staying in the hands of the already wealthy.
6
Phillips Morris are reducing their staff numbers as cigarette sales continue to fall. The graphic photograph campaign on cigarette packets has done its job here.
2
... and there are TTIP, CETA, EPA and countless others.
1
This is all too complicated and the impacts too unpredictable for the ordinary voter to understand and form a reasoned position on. I'm sure Mr. Trump knows that and already has his self-serving political "spin" at the ready. It is basically his "America First" nationalism and "I'm the greatest deal-maker" ego trip. The next question is, If he gains politically from these disruptive trade actions, what else will he and his Republican Congressional supporters do with his enhanced political power? That is what scares me.
1
Trade War, Nuclear War, Great for Ratings! If it’s what he thinks it is,
he loves it. It’s going to be HUGH!
The TPP Plan B is better off without the Bully.
4
This is prima facie evidence of a failure of leadership. Mr. Trump doesn't even know the meaning of "greatness" when referring to America. He bamboozled the blue collar folks into thinking he did and it was a wink-wink to the uber wealthy to put him in office. He and his handlers knew how to mesmerize a certain class of Americans who could carry him to the presidency. Mr. Trump's behaviors and temperament with regard to these tariffs should be remembered by all voters and taught in future history and political science classes.
3
Trump is not the cause of America's downfall. The cause is a reactionary electorate that rejects rational analysis and supports xenophobia. What really scares the world is that Trump may not be a one off. With our system of government, and with the willful ignorance of a large portion of our population, our allies know that even if Trump is removed from office, someone like him may rise. again. The Unites States has now proven itself to be untrustworthy. It will take generations to remove the dark stain that this illegitimate administration has left on our country.
20
No question xenophobia is a major driver of the current Trump political camp, but its likely as with all failed nationalist movments too simplistic and closed minded to really keep America the premier world power, It actually movtivates our competitors to act aggressively toward us,
2
Trump is trying to erase everything that Obama did. However, he is now the owner of his own follies. The TPP was the first, it won't be his last.
4
If Clinton had been elected, they would have challenged her - since she opposed the TPP. Anybody with any sense did. Terrible deal. I wonder, though, how the backdoor doctrine of "takings" which was incorporated into the deal through the establishment of the ISDS -investor-state dispute settle - courts are gonna run without the U.S. Should be interesting
3
She didn't really support rash actions on TPP, but Bernie refused to end his campaign until she agreed to get rid of TPP. It was either promise to get rid of TPP so Bernie would end his campaign and she could get his voters to vote for her or Trump would have an easy time getting into the White House. Bernie acted like an overgrown baby throwing a temper tantrum for a month because he wasn't the nominee of a party he spent over three decades trashing.
2
This is a very funny history. So did Obama appoint Clinton to be sec state because she was a baby and refuse to quit campaigning until the very end of the season in 2008?
What you are really saying is: I think HRC was transparently lying about her pledge not to sign the TPP. I, on the other hand, believe that she is not the untrustworthy and dishonest person you seem to think she is. Opinions differ.
It's easy to put forward that *resident *rump is wrong- spectacularly, abhorrently, intentionally, self-servingly wrong about absolutely everything but, I do feel NAFTA and CAFTA have sold the U.S. economy down the river and an effort to keep manufacturing and other industries that require well-paid or at least somewhat skilled labor here is worthwhile.
2
... may I offer a different view regarding CAFTA
[which, I think, applies to all similar 'free trade' agreements]:
"CAFTA is based on the same failed neoliberal NAFTA model,
which has displaced family farmers in trade partner countries,
exacerbated the "race to the bottom" in labor and environmental standards
and promoted privatization and deregulation of key public services.
"CAFTA proponents promised [...] prosperity to Central America,
causing violence and immigration to the United States to decline.
The opposite has happened.
Central America is facing unprecedented levels of gang and drug-related violence, and immigration from Central America to the United States has surged."
https://www.citizen.org/our-work/globalization-and-trade/nafta-wto-other...
[Thanks for *resident *rump, though. One small reason to smile.]
Not a single mention of 'Investor-State Dispute Settlement'. You think it's not an important issue?
2
When the stock market falls here and in other markets around the world and the GDP growth rate stalls out; all that Trump did with his tax cuts will come home to roost in a very bad way economically for the US. We will have a slower growth, higher inflation and $1.5 trillion in additional 'tax cut debt' to drag our economy even lower.
This 'trade war' by Trump is really a temper-tantrum inspired lashing out at a world Trump fails to understand and/or control. This is the one thing he can control and we will soon learn, it is the real reason why Trump should not be in office. He is completely incompetent for the job.
2
No big surprise. In any situation where Trump has to make a decision you need only ask yourself: What does Putin want?
If you do a google search under TPP and controversy you will see it gives the potential for foreign businesses to sue governments that get in the way of their profit. This cannot be good for society- democracy always begins and ends in the local communities.
https://zukfinancial.com/weekly-update/the-tpp-controversy/
1
“The U.S. is really delivering the region to China at the moment,” Mr. Wilson said.
Yeah, that about sums it up for me. Our 5 year old president who does not read, distrusts experts and trusts his gut, is he really making America great again?
3
“And that stability does not appear to be coming from the United States, where policy seems to shift at a moment’s notice.”
Business people plce a high value on PREDICTABILITY. One wonders why they place ANY value on Emperor Donald the First, who runs a chaos government, and who changes his position and his terms on any subject almost by the minute.
Business supported this incompetent for the job of POTUS. I wonder when they decide to walk away from him.
1
They already got what they wanted. Tax cuts and concentration of wealth in the hands of a few in perpetuity.
3
Trump's nationalist move to impose tariffs on imported steel in order to return the US steel industry to its past glory will fail. As documented in a recent article by The Council on Foreign Relations, the decline in employment in the industry began long before the increase in steel imports and is primarily a result of two factors. Since the 1970's the per capita consumption of steel in the US economy has fallen by nearly 50%, as the economy expanded from its manufacturing base. There has also been a significant increase in productivity in the steel industry, decreasing from 10.1 man hours/finished ton in the early 80's to 1.9 man hours/finished ton in 2015. Combine a 50% drop in demand with a five-fold increase in productivity and yes, employment will decline. One reliable outcome of these tariffs will be to encourage other countries to enter into multilateral trade agreements which exclude the US - and to put a figurative thumb in America's eye wherever possible.
5
Europe, Asia, Australia, Mexico are all getting the message that they can no longer rely on the US as a partner. They are forging new partnerships to replace us. Both the policies and the erratic, unpredictable behavior of the president are diminishing US status in the world.
4
I would like to see a column in the NYT discussing the Pros and Cons of the TPP. I honestly do not have enough information about it to have an informed opinion and reading articles without a counterpoint doesn't help in my understanding. I abhore Trump and still find it hard to believe he's our president so when I hear Trump did something I tend to assume it's bad. I know Hillary and Bernie were against TPP but not sure if that was based on its failings or they were just following political expediency. More information on what the TPP contains would be much appreciated before we assume this is just another uninformed Trump decision.
4
This agreement is NOT about "free trade," but about pre-allocation of trade while also giving corporations super-powers through tribunals where they are more important than local laws. Tribunals alone makes this agreement non-tenable, and it is disturbing how rarely that feature is mentioned. But that anyone with respect for language is willing to call this "free trade" is just sad.
4
This is telling. Eleven of our trading partners got together and have already signed an agreement that excludes the U. S. while the White House is still struggling to put together its own plan. That's government at the speed of Trump.
5
All of this and more will take at least a decade and likely more to undo and build us back up again. You'd think we would have learned form the past. I feel sorry for my children and grandchildren.
It is worthwhile to remember that the TPP was also opposed during the 2016 presidential campaign by Bernie Sanders and by that paragon of integrity who helped draft its terms, Hillary Clinton. In her desperation to pick up a few more votes, she probably lost a boatload more.
3
Lets not forget Bernie refused to end his campaign until Clinton agreed to get rid of TPP. Bernie and Trump created this misguided anti-free trade zeitgeist she had to ride out. Also lets not forget the Kremlin was also trying to help elect Bernie.
I am not alone in believing that we in Canada are no longer an ally. With the Republicans in charge of the executive, the legislatures and the courts we are everything the USA rails against. We are more Scandinavia in our political ethics and culture than the country that put an end to Bretton Woods in 1973.
We believe in justice not the victory of overwhelming economic or military might.
We are ever more skeptical that the USA will ever again be a liberal democracy and we are hopeful California will be the beginning of a Federal Democracy where the power closest to the people is properly endowed to affect change.
The Republican lawyers on the Supreme Court of Injustice has effectively destroyed the constitution with their sophistry and the formerly loyal opposition has become the enemy. History tells us that lawyers were ethical philosophers not sophists in 1776.
As the USA transitions from 20th century liberal democracy to a Russian style theocratic, kleptocracy many of us hope we can escape the USA orbit and become 21st century global partner.
Many of us know it was liberal democracy that turned the USA from a country where 90% of its citizens lived in poverty to the country that provided most of its citizens an incredibly abundant life in less than half a century. Jeffersonian democracy never provided the masses the education or economic resources that made America its greatest in 1964 when the party of Lincoln became the party of Andrew Jackson and Jefferson Davis.
7
This should come as no surprise to anyone. The rest of the advanced world understands that, like it or not, trade and commerce are multi-national and multi-lateral, and not the 19th century bilateral model that Trump and cronies seem to think we still command. We will be huge losers on the world stage as we get left on the sidelines without influence or the ability to steer events.
19
Trump is a successful multi-billionaire with int4national business experience that puts your expertise to shame. Before making snarky comments, I suggest educating yourself.
1
If everything is as wonderful as you say, why is there an $800 Billion trade deficit. Trade deficits were just a bad thing in 19th century. check Adam Smith about his dislike for trade deficits.
1
Who says Trump is successful? Him? Maybe we'd know if he'd showed us his tax returns. Had he invested the inheritance he got from his father in T-Bills he'd be richer than he is now. I'd bet on J's experience, heck, on anyone's experience, over Trump's. If it wasn't for crooked Russian money-lenders he'd probably be broke now. But keep on believing in the serial failure in the Oval Office if it makes that poisoned Kool-Aid taste better.
1
World leaders are not as stupid as the American electorate. They can see that Trump and his slavish flunkies, are determined to make the United States a smaller, whiter, poorer, more socially stratified, less inclusive, less educated, and less scientifically and technologically sophisticated nation. The world is moving on, as best it can, without the participation, let alone any leadership from the United States. Whether the damage Trump has wrought will be permanent or temporary will not become clear for some time, but the rest of the world is not holding its collective breath waiting for the answer.
161
Since it look like Mueller is dragging his feet, I mean what is he really waiting for at this point, 2020 can't come soon enough.
9
It's called Thoroughness. Y'know, not presenting a case until you have an indisputable one.
Nixon wasn't impeached in a day...
1
Maybe the depth of the depravity of the Trump Organization is deeper than Mueller thought. Nah. It's just a long way to the bottom to sort it out. Patience. You might get your NBA title after all.
"American exceptionalism" is beginning to look like "everyone cooperates except Americans".
68
I'm happy we're not participating in deals that are harmful to us economically. Feeling good is a bad substitute for rational thinking.
If we read a news story about a vulgar, corrupt, and bankrupted casino developer whose only claim of success is playing a powerful businessman on a TV show, who comes to power in a country whose elections were manipulated by Russia, we would think it was some pitiful, insignificant little country. And we'd feel sorry for them.
122
I'm convinced Trump's manipulation was to benefit Carl Icahn. The Russians also only earned some of the credit for Trump's office grab. The GOP has been honing its dirty tricks for some time.
http://nymag.com/daily/intelligencer/2017/10/voter-suppression-may-have-...
Unfortunately this deal was killed by Democrats before Trump was elected. Their reasons were different but just as wrong. It’s a shame. It was a chance to have significant influence in the commercial and political development of an enormous portion of the world.
I can only hope the Obama wing of the party will ascend and somehow get us back on track. I don’t think the accomplishments of liberal democracy and multilateral cooperation are even debatable. Do they teach anything in college nowadays? I really hate to see us heading down a white nationalist rabbit hole.
13
Trump supporters didn't go to college.
1
Always fascinating to see what the latest talking points are on Fox News.
The deal is not killed .The TPA (Trans Promotion Authority) is still alive and well til June 2018, and can be extending by a vote to do so ... This deal has the beginnings of how the current economic deals thru corporate tax cuts, current banking bill and tariff's on imports, and the signing of a much weaker TPP by theses countries, can and very well could bring the TPP back as a "necessary" trade pact to the agenda of this administration. Would not be surprised.
This is a bad treaty. I am glad the USA is not part of it unfortunately I live half the year in Chile. Chile is actually hosting the signing with the new presidential clown business friendly Pinera handing out the pens. How bad is it? If a Vietnamese factory pollutes the Rio Mopocho in downtown Santiago and the City of Santiago orders it closed then the Vietnamese company can have a secret trail where the judges within this treaty decides to penalize the City of Santiago for that company's loss of revenue. And the City of Santiago will have to pay them off.
9
Similar rulings have already happened in Canada under NAFTA and Canada usually loses. We end up paying millions to US companies. It's actually the kind of bullying I would expect Trump to love except he doesn't understand how it works.
3
Some time in the future, we will look back and try to figure out how it all went wrong. How it came to pass that the economic dynamo that once was the United States fell into disrepute. What event caused American to became an island, alone in the world. We stood by and watched as the world economy took off and left the US in the dust as we fell into an horrific recession.
It would not be too difficult to pinpoint the exact date that it all went so horribly wrong.
Friday, January 20, 2017 at 12:00.
Truly a date that will live in infamy.
31
@Larry
Nice, and dramatic, too.
Only you're not even close. In fact, you're off by about 16 years.
That fateful day was December 11, 2001.
The day China entered the WTO, unfettered. America and Europe have been in decline ever since, which is to say, for the entire 21st century.
That was the day when "it all went so horribly wrong".
And the "economic dynamo" remark about America is literally laughable.
China left the entire world in its dust. The economic data are irrefutable. You appear not to have noticed.
I hate Trump too. But I don't blame him for the snow last night.
1
Basically Trump is dealing the US out of influence. I am sure that China and Russia are very pleased with him.
39
Trump is dealing us out of influence and relevance. His world view is informed only by his emotional pathology: the U.S. is victimized by bad deals made by gulllible predecessors. Could he articulate exactly what makes these deals bad? Of course not. Having made vague complaints about them repeatedly on the campaign trail to his gleefully uninformed base, he now feels empowered to walk away from agreements and relationships thoughtfully developed by those eminently more qualified predecessors. Wharton must be so proud.
1
What good is "influence" if it cannot be used to the advantage of one's own country? This incessant need to feel important and be liked by the world has no place in trade. It only weakens us.
Anything signed without the U.S. is a total nonsense. China needs the U.S. and China will not get it. Besides Canada and Mexico have gotten a reprieve. But the most important thing is this: The current system of trade is backward. It is based on cheap Chinese labor and cheap labor goes against technological innovation. China hold the world back with its economic policy. Protective tariffs will allow the U.S. to break this dependency that hinders technological revolution. Investments in production in the U.S. will create a huge incentive for technological breakthroughs. China with its outdated bureaucratic system will never be able to do it. China's cheap labor is poison to the world economy.
6
This kind of worldview is nonsense. The U.S. has been a global leader since the end of WWII, but that's not because of divine right. It's because we created a booming economy and we had leaders who took interest in our part in the world. There are MANY powerful economic agreements that our country plays no part in, and as long as we have political leaders in charge who preach protectionism, the world WILL move on without us. It's not nonsense, it's them looking out for their best interest. Free trade and China's labor has enabled huge chunks of the American economy to prosper. Apple, America' s most valuable company owes its success to the incredible efficiency of Chinese labor. The irony is that agreements like TPP would have encouraged China to improve working conditions and raise wages, which would've helped American workers compete. Instead, we're going to shut ourselves off from the world and hope that everyone decides to let us steamroller them without getting anything reasonable in return.
What could go wrong...
1
Besides, Charlie, if you think that the Chinese will stop buying Apple products or any other hi-tech products from the U.S., think again. They will never do it because they vitally rely on this and they cannot get it anywhere else. But they will stop stealing technology. We'll make sure that they do.
This is nonsense. Take econ 101. Cheap labor works against technology. That's why the American South was technologically inferior to the North--cheap labor. All these improvements for ordinary Chinese that you cite is a sheer fantasy. The bureaucrats cannot improve anything. They only know how to enforce the existing rules and norms. That's what they are doing in China and also periodically executing some nouveau riche. Increasing tariffs is not shutting off. Don't reduce tariffs to absurdity. Many countries have practiced protectionism. I would not go hysterical over this.
Someone should point out to Trump that there's a world of difference between acting American and, "a merkin."
18
The "great" negotiator is about to take the United States from a position of setting the terms of international trade agreements to just another face at the table.
So...
How many other members of DT inner circle knew this was coming and sold stock?
Could this be an attempt by DT to weaken not only the US economy, but his wealthy adversaries?
Ultimately, you have to ask the question: How much influence do you think Putin has on this decision?
20
I suspect a great deal of influence by Putin. What does Putin have on Trump? I suspect a great deal.
1
Considering the checks and balances in the American governance model, I didn't think it was possible for one person to make the entire country an international pariah. Turns out I was wrong.
46
You wouldn't be wrong if those who can check this president would: The Republicans in the house and senate. They don't want to, even though many of them were against Trump before they were for him.
1
The reality is that it's not just Trump. It's his political party, which has been slowly devolving into an ideological mess of conspiracy theories and zealotry for decades. Trump couldn't have won without Fox News and right wing politicians teaching their audiences to ignore any media that they didn't agree with, or any facts that were inconvenient.
4
The Congress in America is "suppose" to act as the check and balance to the President. Since this is the first time in decades, Republicans have control of all three executive branches of the American government, their dreams and agenda has been one they have now been enable to enact, even with the erratic and unpredictable nature of the individual whom they are more than willing to tolerate. For them, even with the chaos, Trump is a small price to pay.
Now, rather than being that "check and balance" that The Constitution designates, this Congress has become this Presidents "enablers".
4
Conventional wisdom is that the troubles of the children are always the parents ' fault. And the failure of the leader is attributed to the voters who choose their leaders .
15
Except for Russian election interference.
Running a country is NOT the same as running a business. DJT does not understand this. Running a country means creating the environment that allows business to happen. Leaders of countries make the rules that promote business for the betterment of their citizens. Then, in capitalist countries, they get out of the way and just monitor to makes sure everyone is playing by the rules. If you aren’t a good leader your citizens pay an economic price.
In contrast, good business leaders figure out how to maximize profits while playing within the rules. These are people that are good at navigating within the rules—they are not necessarily good at making rules. If they aren’t good business leaders they go bankrupt and move on to their next venture. I’m not saying DJT was not, or is not, a good business leader. But he did use the bankruptcy route more than once.
I get the sense that DJT expected all the other countries to play within the rules. Surprise! They changed the rules.
14
Well said. The other thing that drives me nuts is that people talk about "business" as if its some singular entity whose skillset translates across every sphere. I find it hilarious that people seem to think there's one set of "business" skills that works for all companies. It's that kind of thinking that leads to the CEO of Pepsi running Apple Computer into the ground etc. . Even in business, every company is unique.
2
His several bankruptcies are a good indicator that he's lousy at business.
1
While no trade pact would be perfect, TPP was designed to help the US and its current allies trading position in the Pacific to counterbalance Big Boy China from calling all the shots. The US has now lost that opportunity because of ignorance and hutzpah that we can call all the shots in this world. The other Pacific members are trying to defend their turf as best as possible. We've left them to hang out to dry.
Maybe Trump's idea is to join up with Britain and its lost position by it exiting the EU. Given his British roots (he's got a coat of arms, you know!) maybe his grand plan is that we'll join the two navies and "rule the waves" by establishing a US/English empire of the seas. And given his German roots, maybe he'll want to build up a big navy like the Kaiser prior to WW 1. That'll certainly work for us. He's such a genius. The Chinese won't see it coming.
11
I hope US takes off the limit on the presidential terms so that current dear leader stays as president of US for a long time to come. ;)
2
Who knows. They probably will, since republican politicians are so in awe of their dear leader. Long live the king. Not.
6
Yes, comrade. We're all tired of America's influence in the world.
Americans should learn how to live under tyranny just like the rest of us have.
Me too! Watching america burn is fun!
#calexit
Trade wars are so easy to win.
13
Just make sure you pay yourself first, and then it's o.k. for your companies to enter bankruptcy court.
I am against Trump policy, however as a vegan anything that supports the stop of animals import I am for it. If the tariff on beef is 38.5% which might stop import sales and iis going to help get rid of this barbaric industry I am for it and ready for the sacrifice
3
That tariff on beef is on American beef. Is that what you were thinking? It'll mean that more beef is available here at cheaper prices because the beef industry won't have other countries to sell it to and they'll have to get rid of it. Beef: the other potato.
1
I don’t eat meat, either. But I do know this. Trump supporters and Republicans will eat you and me if they get hungry enough.
And they’ll just call it survival of the ‘fittest.’
1
"I am against Trump, but if I can get what I want, what I really really want, I am for him, and ready for the sacrifice of my principles. I love animals; they're not like people; you can trust animals."
Your meds are in the kitchen cabinet, Lisa, on the left. You moved them, remember?
“The U.S. is really delivering the region to China at the moment,”
Once again, Trump shoots the U.S. in the foot. How many more feet does Uncle Sam have?
22
“If we did a substantially better deal, I would be open to TPP.”
...said a man ready to back pedal, but also has no idea how a "better deal" would work or how to achieve it.
22
It will be interesting to see what price Americans will be willing to pay for a trade war. Globalization was multinational corporations way to avoid paying living wages to Americans while supplying Americans with the cheap consumer goods that they crave. Want higher wages to deal with an inflationary spiral and higher consumer prices ? Tough! With the Rights assault on unions the cost of producing goods in the American will be cheaper because wages, which have been stagnant, will continue to be stagnant. Not making a living wage? You don't like it? Without unions what bargaining power do you have? The corporation cares only about it's bottom line and will move production where labor costs are cheaper. Corporations a sociopathic "persons". tRumps base may think he is a messiah and that his strong man tactics will bully any person, group, or entity to yield to his tyrannical demands. Tariffs may be a bridge to far for the Rights corporate paymasters. Just ask Cohn. The corporate paymasters backed tRump to make more money through unregulated capitalism. It's not enough that corporations are once again free to pollute with impunity. They want it all. That's the essence of sociopathic unregulated capitalism.
23
add to the recipe an increase of the interest rate, inflation directly cause by the tariffs and you will enter into a recession spiral within 2 years...
Is it possible that Revelations 18 will come true?
...And the merchants of the earth shall weep and mourn over her; for no man buys their merchandise any more:
The merchants of these things, who were made rich by her, shall stand afar off for the fear of her torment,
For in one hour such great riches is come to nothing. And ... as many as trade with her, stood afar off,
And cried when they saw the smoke of her burning, saying, What city is like unto this great city!
And they cast dust on their heads, and cried, saying, Alas, alas, that great city, in which were made rich...by reason of her wealth! for in one hour is she made desolate.
8
China's Infrastructure Bank along with it's 'One Belt, One Road' program is destined to return the Central/ Middle Kingdom ruling with the Mandate of Heaven to the world socioeconomic political educational technological and scientific superpower pinnacle status that it has occupied for most of the past 2200 years. While America declares trade war on it's allies and friends, China is poised to mind and profitably mine the trade gap led by Xi Jinping.
8
“The U.S. is really delivering the region to China at the moment,” Mr. Wilson said."
Need any more be said?
We should also put that 25% tariff on real estate, so Trump's companies take the hit when the Ruskies quit buying.
8
Mgaudet--There must be a happy medium, but tRump knows nothing about "medium."
1
It's interesting that the author mentions the steep barriers to free trade in China in paragraph 6 but the New York Times, in general, will never focus on that subject and how most American products are kept out of China or extremely limited. Only the flaws of America are ever mentioned, daily.
For example, only 34 American movies are permitted in China per year. iPhones, made in China, are subject to a 25% tariff when sold in China because...it is considered an American product! The list runs into thousands of pages. Those are just two of the most obvious.
Free trade: a code word for easy corporate access to labor camps in third world countries.
11
The damage this creature known as “Trump” is wreaking on our country is incalculable.
And this foolhardy protectionism and 19th-century-thinking tariff is just the latest.
And we are paralyzed by our “Constitution” in not having the 2/3 majority in the Senate to remove him from office.
Woe is me, and woe is most Americans.
17
I am so ashamed of the "leadership" of my country.
Hurry Rober Mueller team, please hurry.
9
You have to give Trump credit for multitasking. Not only is he an agent for Russia, apparently he's an agent for China too.
12
“Trump won’t last forever."
Maybe not, but it seems like it already.
14
Just one - albeit a prominent - example of where and how America will be left behind while the world moves on without it. Environmental technology is another one. Modern production technologies and industries that are competitive and do not need to rely on tariff barriers for survival will follow.
car sales in Europe? I have a great idea: build better cars!
All Trump can do is play the bully to please his base & his ego. The damage he does to the US and it´s people is of no concern to him.
Want to improve
8
The world is not going anywhere without the U.S. It's a myth. Get it if you have not gotten it yet. So, build your good cars and stick around for the ride.
1
In my mind, I see a school playground where the little kids finally figured out how to keep the big trumpy bully out of the game. The bully hovers in the corner with no one to play. SAD.
In 2010, traveling in Sri Lanka, a local told me how frustrated they were they were getting no support from the US, yet China was willing to step up and loan them the funds to build bridges, roads, etc. They knew they were beholden to China but so wished they were aligned to the US that represented human rights and democracy. With this current administration, there are even more Chinese alliances than ever. What global power America had, is sorely diminished.
9
I'm not a huge fan of "American Exceptionalism", mostly because the theory tends to exclude some exceptional American blunders that could only be achieved by a country of great might such as ours. (think "Rumsfeld Brings Democracy to Iraq.)
So the analogy is o.k. except this "bully" has most of the playground balls and bats and bases and jump ropes and chalk, and also controls a majority of the play structures. It's not the same playground or game if the bully don't want to play.
1
At 63, I so hope that I live long enough to be able to read the news, historical opinion, etc. I can write the outline now, "On March 8, 2018, Trump signed the disasterous Steel/Alum Tariff Act. As a result, our former partners immediately modified the TPP, EU, EFTA and CETA, resulting in [doom, disaster, mayhem, chaos, etc.] to our economy. In retaliation Trump imposed the [Dooms Day] Tariff. resulting in further [doom, disaster, mayhem, chaos, etc.] to American interests. By early 2019, our economy had descended into [doom, disaster, mayhem, chaos, etc.]. By 2020, with no end in sight............ "
5
Trump is politically incorrect, and therefore accomplishes little politically. There will be no " Steel/Alum Tariff Act of 2018" because that would require someone politically skilled to move it through Congress. Although the GOP has many skilled politicians, I personally don't count the President among them. He is acting on Presidential fiat, as is his right. He often assumes the persona of the petulant child and his commitment to a stance is similar. If this posture lasts to 2020, I'll be surprised.
Whatever my Canadian friends think of Justin Trudeau, I have to give him credit for negotiating trade deals with the European Community and signing on to the T.P.P. Canada is standing their ground on NAFTA and so is Mexico as they should.
When you have Trump and his "advisers", especially Navarro, ignoring history with the Smoot-Hawley tariff act, there is no other choice. This American is still hopeful that the situation can be rectified, but it won't be with Trump anywhere near the White House.
7
JWM:
The fact is, that when Canada did not sign on to the Iraq War deal with Britain and the U.S., at that point, it was finally determined quite realistically at the time that when it comes to being a "friend"of America you are only categorized as a friend IF you act in America's self-interest and it really doesn't matter which party is in power at the time. If you don't then you are really no longer a friend, at least to the American government anyway. By starting to sign alternative trade agreements with other countries in the mid-2000s, although significant, trade with America has actually gradually dropped during that period and many on this side of the border actually encourage that the 60 yr.old umbilical cord trade attachment be gradually cut, at least a significant portion of it over the mid-long term and because we are and always have been a trading nation, Canada must, more than ever diversify.
Unfortunately, with the significant increase of Republican governments elected at the state and federal levels culminating in the election of this President, although we speak the same language and many still vacation in parts of the Southern U.S. in the winter, I can't think of anything that has displayed with any more significance the difference in our values and vision going forward in the world and that gap seems to be widening by the day.
Sad, but true and clearly, Canada is far from the only country that thinks that way.
3
You'll change your mind when you see the surpluses the tax cuts generate. The GOP never misses when it comes to fiscal policy, usually. That should more than overcome any issues related to import taxes. They said it couldn't be done in Oklahoma, but all they had to do was close some public schools on Friday!
1
Trump only understands zero-sum games. He only thinks of current monetary gain and loss. Consequently, a trade deficit is bad; no one can convince him otherwise. Trade deals are only about money; they have nothing to do with political or diplomatic interests. I am seeing a headline: Trump's throat cut by Occam's razor.
5
Throughout the 2016 presidential campaign, I knew that, if elected, Trump would be a disaster as chief execute. I won't claim the individual incidents, but I knew he wasn't isn't up to the task. Less than 18 months into his administration, the standing of the U.S. is eroding on every level of commerce, diplomacy, military, manufacturing and high tech. Trump is an old, angry, man sitting on the steps of the county courthouse with all the other "geniuses" of the world, barking at every car passing by ... without a plan to solve or improve issues. The most insidious aspect of this administration is the complicity of Republicans in Congress and Republican voters who accept everything hook, line and sinker, while the world swims away from the U.S. into an ever expanding 21st Century economy. There have been a few outcries against DJT among the GOP, but their voices are shouted over by the rank and file. It's past time for our elected leaders to step away from fear and move to impeach DJT so that our nation may return to a positive of strength and sanity instead of the cesspool our president is foolishly jumping into at the peril of our country!
9
45 is willing to give the world to China just to pull the wool over a few steelworkers' eyes and flip a few votes to prevent impeachment.
We deserve all the pain we get.
9
Maybe Trump voters and supporters deserve it, but the millions of us who saw this man for what he is do not deserve it. Don't say we didn't warn you!
5
This is all for the byelection in Pennsylvania. It is sad that the Republican was 3% down and Trump made the announcement and now is 3% up. I guess for the mid terms he will go into each district and promise whatever they want to hear never deliver. Listen we can and know he is a nasty con man, but what does it say about his base and the Republican Party. They drink the Jim Jones Kool-Aide everyday and defend this man with mental health issues. Now, it appears he may sign another Executive Order stating in x weeks he will get tough. I marvel at how people buy in time and time again. If the Republican wins that by election it will prove the point that P.T. Barnum stated "A sucker born every minute." They should check and notice that for all the talk about the coal mines coming back there are 500 less coal jobs this year. The reality his base does not want to recognize is that automation has taken lots of their jobs. Americans want products so they can consume forget saving, but want to pay cheap. The base need to read a good book on economics one of the big factors in cost is the labor. More automation means more products per minute so they become cheaper, but also means less workers. Want high paying jobs then be prepared for less product being manufactured and cost being high. Americans like the Brits leaving the EU want it all without the consequences. Jim Trautman
IF our country survives the damages done by Trump and his administration, it will take years and perhaps decades to gain back the trust of our allies, if we ever can.
7
Donald Trump's Art Of Breaking A Deal book illustrates how businessmen make money, but it doesn't work that way in Washington. Trump is learning the hard way that the street corner tactics of a thug ain't gonna make it on an international political scene. Trump's voters thought this guy was going to pull out a gun and stop the world on 5th Ave. and nobody would call him on it. Guess again.
News accounts sources' statements saying things upon the day Trump decided to implement tariffs as if Trump woke up on the wrong side of the bed, but it is obvious he was reacting to the inevitable.
America First was a 20th Century invention spin off of war. Trump acts like there is no global village or change in economic dynamics since. This move by our once allies, countries Trump now alienates after a century of cultivation, are proving to the United States there's more than one way to skin a cat.
3
I knew we were in trouble when Day 1, DJT exits TTP and gets nothing in return. And he calls himself a great negotiator!
3
Are we voluntarily ceding all our leadership roles to EU, China or Russia? Is the end of the American Century? Is this how this great republic will end?
No one has done more to damage our national security than Trump -- except for those voted for him and Fraudulent Fucx News. Our last hope is the 2018 elections.
5
The Free-market evangelists have sworn for years that tariffs didn't cause (or even partially lead to) the Great Depression... Now we'll get to find out first hand! Time for Milton Friedman to put his money where is mouth is!
2
Give this another 20 years, and the US will become like Putin's Russia - a potemkin village with a shrunken economy fooling only its own people, insisting it is a great power but capable of exerting international influence only by threatening its neighbors by military force.
5
Trade deals have flourished for centuries based on the fundamental economic fact that everyone benefits if countries focus on exporting what they can do most efficiently and import what they don't do so well. It is not some abstract unproven theory subject to dumping in the trash can because our President is clueless.
Trump's little mind sees each trade deal as one which should be negotiated. A zero sum game on each product, setting up tariffs so that each and every product that anyone wants to export will make a profit. It is protection scheme for companies that cannot compete.
Trade deals are not free. They are exceptionally complex agreements meant to balance exports and imports of miscellaneous products for the good of the maximum number of people. Centuries of time have proven their effectiveness.
Tariffs exist in free trade. They are adjusted to balance the overall trade deal, not just individual products one at a time.
Along with everything else, Trumps ignorant little mind simply doesn't comprehend anything complex. He doesn't listen to expert advisers; he just trashes anything that he doesn't understand.
5
Confusing! How does this tie in with Trump's tweet yesterday: "China has been asked to develop a plan for the year of a One Billion Dollar reduction in their massive Trade Deficit with the United States."
Do we have a White House representative there in Santiago?
You've had you a year Donald (you too his supporters). Where's the great bilateral trade deals you promised? No leadership, just chaos.
5
Yes. The issue here is that those who elected Trump do not seem to be aware that America is not the only country on the planet, and how we relate to our neighbors actually matters. We disregard these realities at our own peril.
9
They are right, Trump won't last forever. I'm thinking that about 6 more months of Big Macs should do the trick.
2
The pro-free trade tone of this article does not deal with issues such as why American labor should have to compete without protection with labor in countries like Viet Nam with very low pay and very low labor rights. The article also does not address the claim that corporations can use provisions to challenge environmental and labor protection laws, giving an opening to uncontrollable pollution and exploitation.
Is one thing to compete fairly with Canada or Australia, but we should have tariff protection from manufactured products in low wage economies on a sliding scale so if they improve real wages the tariffs go down. That gives an incentive in poor countries to raise wages instead of depressing them.
3
So much for individual and state's rights in these eleven countries versus the corporations that will exploit their people and pollute their land.
The idea of raising wages in poorer countries so their money would buy more goods from the richer countries has always been the idea anyway with NAFTA and Mexico, in particular, being the example. The only problem is during the negotiations and after, rather than negotiate that deal many American businesses take advantage of that low wage scenario and in order to increase profits, move many of their plants, i.e., automotive, Carrier etc. to the low wage countries like Mexico because they can.
Unfortunately, this publication and many others have not discussed in detail what is going on within the current NAFTA negotiations especially related to this important subject. Canada has implicitly conveyed to their American trade counterparts that rather than implementing "right to work" legislation that ultimately drives down wages and dismantles unions, negotiations should demand that Mexico increase their wage levels and benefits to discourage movement of plants over the Mexican border. The American government and trade negotiators refuse to discuss that issue I would think because not to offend their corporate donors who have companies that take advantage of that scenario.
How does an auto worker, for eg. in the U.S. and Canada compete with a Mexican auto worker who earns $4.00/hr.?
4
Everyone thinks of this as something Trump withdrew from. While his administration surely did, let's remember that Bernie Sanders and Hillary Clinton both committed to doing just what Trump did. This is bigger than Trump and any thoughts otherwise are inevitably mistaken.
4
The NY Times always omits saying that the TPP was also a corporate giveaway when it included the chapter known as ISDS. ISDS stands for "Investor-State-Dispute-Settlement", and it provides corporations with a tool to actually sue sovereign countries if the nation is seen as infringing on their market with new regulations or rules.
Here in the NW, Cooke Aquaculture is threatening to sue the State of Washington, because the State has ordered their operations' shut down in the waters of Puget Sound. Cooke had a disastrous breach of one of its pens last summer, and thousands of farmed salmon escaped, along with a dump of fish waste. Investigators found Cooke's fish pens were poorly maintained that pen and two other installations, and the State ordered the operations closed off of our coastline. But now, under the NAFTA ISDS chapter, Cooke can sue Washington and take part in some non-public arbitration process over resuming fish farming on the Washington coast. The ISDS process can thus result in states and nations being forced to defend themselves (burning through taxpayer money) against corporate thuggery.
6
This is great news for citizens of these 11 nations. It's about time that the rest of the world took control of their destinies.
Not so good for US coal miners or steel/aluminum workers who are being sold down the river by a fool, allergic to facts. Long after the pittance of protection provided by a short-term tariff have worn out, the people of these 11 nations will enjoy the fruits of cooperation.
2
I am deeply troubled by the label attached to policy and people who would seek to level the trade gaps between nations as "Protectionists". Why is protecting a nation's critical infrastructure, job, industry and its citizens as well as economic well being considered as deeply evil? For more than 30 years China has been taking advantage of our trade agreements to weaken if not totally destroy our nation. China cheated by transshipping steel and aluminum and dumping it in the United States. Cheap labor also created unequal trade agreements and losses of millions of jobs.
It is not wrong to want to have a level playing field for trade. It is not wrong to tell China no more dumping or trans-shipping, or stealing intellectual property, or financing and supporting North Korean nuclear weapons development.
China also demands as part of trade with China, that American industry share technology with China or risk being thrown out of the Chinese market.
China has used its new found wealth to challenge the U.S. and its allies militarily and economically throughout the Pacific. China is expanding its navy and air force and modernizing its army. China claims all of the South China Sea as its own.
I don't ever agree with Trump. I despise him. But this time he's right. How much more of our nation must we dismantle to meet Chinese demands. Trading with China has not brought China closer to Democracy or the U. S. We've been duped. Let's stay out of China and protect our nation.
4
Free trade is a two way street... they use the word protectionism when in reality it is not about protection it is about a fair trade. Fair trade is free trade.
Much as it pleases me to see beef production reduced (since beef is more destructive to the environment than cars are), the possible explanations for Trump's earlier knee-jerk withdrawal from TPP are distressing: 1. maybe he thought it was a deal with China instead of a deal to limit China. 2. Maybe he thought his base would grow in the working class. The latter explanation is less distressing, although it suggests that he recently proposed steel tariffs just to keep Conor Lamb from winning in PA, leading the wave against Republicans. After Lamb loses, Trump might reverse the steel proposal.
2
Trump was against it because Obama was for it. Simple as that.
1
So Trump and Republicans have scuttled the international trading order, slashed taxes at the state and now federal levels to the point that Louisiana is considered "a failed state" (see article on crisis in Louisiana and previously in Kansas), won't fund health care, won't impose sanctions on Russia, won't enact meaningful gun control legislation. Why in the world wouldn't people vote Republican?
1
Any article about TPP that doesn't even mention Investor-State Dispute Settlement (ISDS) is at best misleading. ISDS let's corporations sue countries (not the other way around, and only corporations, not workers, consumers, our representatives for the environment) Corporations are already suing in global tribunals run by corporate lawyers for "profits they would have made," if democratically elected governments had not enacted protections for workers, consumers, or the environment. We have already lost Dolphin Safe Tuna to the suits. Philip Morris is still suing Uruguay for daring to put warming labels on cigarette packages, and you may soon be buying Chinese beef, without knowing it wasn't raised in the U.S.
TPP would greatly expand this system. Many analysts who don't work for global corporations think the main reason for TPP is to give our national sovereignty power to these tribunals with the ability to overrode national law.
The quote from the president of Chile, dismissing those "preaching messages of nationalism rather than integration,” shows that she clearly understands that she is giving up national power.
Protection is not a dirty word. Some things are worth protecting. Shortcut trade deals hurt workers.
And for those of you that think Trump is really interested in American jobs or our Sovereignty, notice that, as I predicted before he was elected, he is already talking about joining TPP. Trump is a global billionaire, so it is only a matter of time.
2
As a Canadian, I can only say that what I once trusted implicitly, I can't now in good faith say that I trust Americans. Even our own top level government ministers are now telling US news that they can't and won't comment on what's being said and will only comment on what's being done and signed. This to me says they too no longer trust the US government. It's to the point where what was normally a given that I'd spend 2 weeks winter vacation in the southern US is now going to be a 2 week Mexican or Belize winter vacation. And I know that I'm not alone in this, it's truly sad that it's come to this.
7
While I agree with the guiding principle of the TPP (a free trade zone to provide a bulwark against Chinese hegemony in the Pacific), there were a lot of pro-corporate giveaways that undercut it's usefulness. I'm almost glad Trump killed it; he did it for the completely wrong reasons (like all his policies). Unfortunately, our leadership absence in the Pacific sphere gives China more time to exert their influence on these markets, while making it harder to come back to the table when cooler heads prevail
Mr.Trump is not only diminishing the reputation of the president but he is shrinking our alliances and our trade relationships. It is hard to say but we will be loathed as a country and end up in economic crisis with many industries without international buyers for their goods.This leads to recession, not good for anyone but directly traceable to protectionist policies.
2
The TPP was written in secret by business interest and lobbyists. Bernie was also opposed to it.
2
To all countries that now see their destiny under the China umbrella, well,...good luck! It would be surprising, for all the bashing, justified or not, that the US under all presidents, dems and republicans, has had to endure since WW I & II, if the Chinese turned out to be as magnanimous and generous as the great American People, and yes, this is also valid under Trumps presidency. For all the critique one might bring against America, this country remains, regardless of its temporary political orientations, a bastion of fairness and transparency. Can the same be said about China???
Trump and his advisors must not be familiar with the term "unintended consequences."
1
One of the consequences of the 2016 election.. Thanks to Trump and Bernie, both of whom elevated this issue of free trade being unfair to American workers, we are losing our influence over the world. Our fading ability to "Call the shots", which meant more than just the TPP but also being able to counter growing influence of authoritarian regimes has virtually been eliminated. Trump has no critical thought, and on this issue, Bernie does not either. We are all feeling the burn of these half baked notions now.
4
The economic isolation of the United States fulfills a Kremlin mandate to reduce U.S. influence worldwide and will make Russia and its tiny economy feel less threatened. If we can somehow reduce our economy to the size of Russia's, the Cold War rivals will be on an even playing field and can be dismissed by the more advanced nations as nuclear-armed dinosaurs. With China in a position of world dominance, the other nations will adapt without the constant threat of war.
2
Trump seems to believe that he can negotiate bilateral "deals" with everybody. I have no such faith. Everything financial he touches turns to dirt (politely stated). And so as he fiddles, the country and its working class burns—a few thousands of jobs gained, millions lost elsewhere along with a good deal of income in agricultural states. His tariffs are just another con to gain him publicity and secure his base at the expense of the rest of us.
1
The treaty is different than the one the US agreed to earlier. Provisions that Obama negotiated to specifically favour US sectors have been dropped. If Trump wants a better deal, he'll first have to get win back the concessions Obama already won.
The TPP was perhaps the first trade agreement to include initial steps for protections for both workers and the environment. Critics indicated that it did not go far enough but given that it was the first, in at least modern history, to include such measures and that it did not include China, would have been a real benefit to the US. Isolationism and protectionism has never worked. Currently, the most isolationist society is North Korea, with a focus on defense spending, minimal trade with the rest of the world; this is the model the current administration wants to emulate.
Wasn't this the same treaty that both Hillary Clinton (who flip flopped) and Bernie Sanders publicly opposed and vowed to kill?
In any event, I've become increasingly convinced our trade deals need to be simplified with generally applicable rates that are not tailored product by product or industry by industry. Otherwise our trade representatives are necessarily tasked with favoring certain domestic industries over others (like cars vs airplanes). This has been the case as we've negotiated away free trade rights for manufactured goods in exchange for international IP protection (which prompts the question, why do we have to give away anything to get other countries to respect our IP)?
1
Trade agreements provide protectionism for corporations (i.e. practically guaranteed profits, cheap labor supply, low taxes, etc.) but little or no protection for the workers (i.e. wages, social safety nets. medical insurance). Trump was elected mainly because of his stance on supporting blue collar jobs. He was astute enough to observe the almost total loss of the manufacturing sector to low standard of living countries because of their worker low wages and benefits. If the US wants to maintain its high standard of living it will have to PROTECT it
Wasn't the Smoot-Hawley Tariff Act a major factor deepening the Great Depression. We certainly don't learn much from history.
1
The tariffs are a mistake, but the concept of leveling the playing field of "free" trade is not only valid but urgent.
It never ceases to amaze how uninformed NYT readers are about globalization and trade. They seem to be far right of the WSJ Editorial Board and the Economist Magazine, which just had a cover story that effectively admitted that globalization as implemented over the past 25 years has failed.
Which is just stunning.
We've been in a trade war for the past 25 years.
China won.
America lost.
Europe lost.
The developed world, overall, has gotten crushed.
We are in secular decline as a result. And that's why our political systems are imploding, one after another.
It is quite extraordinary that even after Brexit, Trump, the French election, the German election, the Italian election, the anger of the Bernie Sanders supporters, the decline of the American middle class, and the absolutely stunning ascent of China, that people still talk about trade and globalization in academic terms, as if there wasn't a quarter of a century of empirical data that irrefutably shows that globalization has failed, spectacularly, and the social unrest to come as a result will test humanity as never before.
Also, I do hope they're not counting on the US Navy to keep their shipping lanes open and safe.
Finally, the notion that we or anybody else could use TPP to "prod Beijing" to do anything it doesn't want to do is laughable, given the events of the last two weeks.
1
Our Demagogue in Chief has somehow convinced a significant number of Americans that building walls (whether border walls or tariff walls or walls of fear of immigrants) will protect the USA from rapid, dynamic and global change. All of history tells us otherwise.
The new Trans Pacific Agreement, improving the flow of goods and technology and reducing the walls of protectionism, shows the world will continue to move towards global economic integration with or without us. We have lost a great opportunity to lead. How many more opportunities will we ignore until our national decline becomes irreversible?
2
Looking at that picture of people sitting in front of sewing machines is comforting. It reminds me of all the hours as a kid I used to see my mom sitting in front of her's. Thanks for the memory.
Someone had to preside over the decline of American power. This is actually one thing I don't blame Trump for - possibly his administration has incrementally hastened it, but the overall direction was inevitable. I hope our next President, whoever she may be, will use this opportunity to re-engage with the world on a different footing.
1
TPP now stands for “Trump Pushback Partnership”
And Trump has done something interesting. I’m absoulutely against tariffs but for these? Why? I’m not buying a car, I don’t drink canned goods and for the things that I do consume that will go up in price I’ve decided that it’s a worthwhile short term price to pay so Trump’s base gets the powerful lesson it needs in economics that without it we get more Trump populists.
All this time we have worried about class warfare between classes. Trump is making it possible for “intra-class” warfare - basically warfare WITHIN a class. His blue collar base- steel workers vs auto workers, beverage workers and YES even gun workers. He’s even going to raise the prices of other products near and dear to us made from steel ike guns!
Let the games begin...and watch the republicans continue to lose the next generation of voters
Let's not forget that the TPP was massively unpopular with Americans when Trump scuttled our participation. Populist sentiment on both sides of the aisle was against the partnership. Ms. Clinton was also (at least nominally) anti-TPP.
The opinion or belief, most likely, was that without American participation there would be no TPP. I admit to believing that myself.
It's an interesting lesson in our collective hubris, isn't it.
3
Personally, I still think the TPP was an awful idea because of the corporate tribunal. This would have allowed foreign companies to take the US government to an international panel of arbitrators and circumvent our laws if they could prove they were harmful to a business. This could lead to foreign companies winning large sums of US taxpayer money. For example, let's say we do some research and a study comes out showing a certain pesticide could be causing cancer. If the US tried to ban that chemical, a corporation could take our government to a legally binding international court that could overturn our ban, and cost us money for "damages."
My biggest fear with the corporate tribunal however is what it could mean for the future of automation. Automation will become a major problem for us if we're not prepared to find some way to redistribute wealth generated by machines to people who cannot afford the initial capital investment. Any policy to address this will have to be detrimental to corporations just by definition. I'm not positive how corporate interests would stand up to national security in one of these courts, but it's just a situation we shouldn't even have to worry about.
I fully appreciate that free trade is very important for our connected international economy, but I think the sacrifices to our sovereignty the TPP would have forced us to make were too great.
2
You know, this action by Trump may end up being a good thing for the world and the United States. The world will have the opportunity to work together more equitably without the overbearing influence of the U.S and we (meaning the "Masters of the Universe") may learn a little long overdue humility when we discover the world can do without us (At least as constituted by a Trump/Republican administration). It's hard to find any kind of "silver lining" with anything that Trump does but just maybe this is one.
4
Putin's Caddy hard at work putting the United States at a serious disadvantage in world trade.
Only a stable genius could have such good, (great) policies to destroy American global competitiveness, put China in the drivers seat in Asia, and pull Mother Russia from the dustbin of history.
7
Trump has claimed he prefers bilateral trade deals. Now, unwrap yourself from the flag and pretend you're one of the countries Trump wants to deal with. Would you want to agree to a trade deal this proven liar has to offer?
17
The Mad Clown King makes his trade pronouncements leaving the court lackeys to cobble together a policy.
Meanwhile, the rest of the world cooperates with each other and moves forward. They are finding out they don't need the US.
Trump is bankrupt again, but now he takes America with him.
7
This is part of the Trump "I alone can fix it" philosophy that finds him more and more isolated both in the Failing White House and here, not for the first or last time, on the complicated world stage.
Trump's always been a rock, somewhat an island, both in intellect and bridgelessness, just there lying, and so ignorantly smug about this fact that he thought it was a good idea to enter his inauguration to the Stones' "Heart of Stone."
3
China looks to the future and has the " One Belt and One Road Initiative" to open their economy. We have the "Wall Around America" to isolate us.
9
When is the rollout of CAMEFTA - Canada, Mexico Free Trade Agreement.
2
Trump declares trade war on Canada, Australia, Japan?
While toadying up to the likes of Putin, Duarte, and Erdogan?
This is like something from the Bizarro Universe -- the topsy-turvey reversal of a normal, sane universe (where science and gravity rules) and the inversion of anything sane, normal, or in the best interests of the USA or the world.
Putin must be utterly amazed at the success of his "investment"!
12
"U.S. Allies to Sign Sweeping Trade Deal in Challenge to Trump..."
CORRECTION
"FORMER U.S. Allies..." If not already, then soon...
What nation, in its right mind, would want to be ally with a dangerous, demented, corrupt, and utterly faithless "ally" run by a vindictive moron, who'll stab you in the back for a few seconds of attention online?
18
“'The U.S. is really delivering the region to China at the moment,' Mr. Wilson said."
Many of us expect this result from Trump and his naïve followers.
And this quote from the article is damning. It shows the instability and uncertainty that one man and his followers have caused:
“Trump won’t last forever,” said Patricio Navia, a political scientist at New York University. “Countries will return to a path toward globalization and this sends a beacon of hope.”
Trump won't last forever, but, if he's in for eight years, he could cause irrevocable damage. During that time, the world economy could collapse.
7
Good Job and thanks to all the countries who agreed on and signed a new agreement.
Please hang in there. WE THE PEOPLE are going to wrest control of OUR United States of America back from The Con Don and his Robber Baron brethren and return it to sanity.
25
Just because this group of countries show unity in the face of American ignorance from TRump's leadership, does not mean this treaty is a good thing. The treaty will give control of these country's sovereignty to corporate vampires that will use this treaty to exploit each other's people and contaminate their lands without having any resort to protect themselves.
1
Trumps "genius" view of trade: Anything that puts more money in his pocket is a good trade policy. Anything that puts more money in the pockets of his campaign supporters is great trade policy. He doesn't know or care about the results of trade wars on anyone else. He has no concerns about other industries in the US, no concerns on the effect of prices on consumers.
Very simplified view of trade policies for an economist, but it's all that fits in Trump's ignorant brain.
21
David Dennison aka Donald Trump is so dumb that he cannot see beyond his nose which is growing longer with every day that passes. Trade is too complicated for him and his supporters to understand. When it comes to international trade what goes around comes around and wait till those who support this con man begin to pay twice as much for their goods at Walmart and we will see how long this love affair will last.
18
Beteen the Brits and America, the Global Multinational traitors will be lining up to join us in a year! Their time is over. Prosperity for the Middle Class equals ECONOMIC NATIONALISM !!
Nice to believe in something. Better yet to get things right. Your propsed system means a strong government heavily interfering in private businesses. Doesn't follow the old mantra "government is the problem".
Nor does the concept work because global trade isn't the problem, the 1% is.
So "Make America Great Again" actually means Make America Isolationist Again as in the Good Ole Days of the 1930s.
21
Essentially we have Archie Bunker as our president. What else can we expect but an uninformed simple minded bigoted view of the world along with short sighted and even counterproductive or stupid policy decisions.
21
No! I liked Archie Bunker and he did not brag about groping women or cheat on Edith.
2
Wait until American beef producers, and a host of other U.S. industries, find themselves effectively shut out of Asian markets. There will be hell to pay!
President Gluehead has just shot himself in the foot! I believe it’s only a matter of time before the Koch brothers and their billionaire allies say, “Enough!“ and find a way to dump Trump.
88
Add to that, the farmers in the MidWest, the ones that overwhelmingly supported Trump, find they no longer have a market for their products. I wonder if they will still be wearing their MAGA hats after that happens?
2
Charles Koch is already blasting 45 for the tariffs. Of course, it's also rich that he simultaneously has the chutzpah to say, “When large companies can pressure politicians to force everyday Americans to fork over unearned millions, we should all question the fairness of the system.” [Politico 3/08/18]. Because, you know, those $1.5T in tax cuts that he and his brother, through their political groups, spent $20M lobbying for were just dandy.
You are absolutely right, Ron Cohen. When the Republican-voting wheat growers and apple growers in the Northwest realize they have to dump their crops on the U.S. market for pennies a pound because the lucrative Asian markets are refusing to buy these now-very-expensive U.S. products, the chickens will have come home to roost. And who will be hurt even more than the growers? Their very-low-paid farm workers.
Re: TTP
“In fact, you may not expect to hear this from a Secretary of Defense, but in terms of our rebalance in the broadest sense, passing TPP is as important to me as another aircraft carrier,”
Aston Carter, US Secretary of Denfense, April 15, 2015
The TTP, was formulated first and foremost as a vehicle to "contain" China. That policy has failed. China's influence is rising
The TTP , only secondarily, was a commercial enterprise. After the failure of the "contain China" policy pursued by the previous administrations, the US needs to formulate an new policy.
That is NOT an endowment of Mr. Trump's policy, but simply a statement that from the economic point of view, the TTP being primarily a political vehicle was bound to be revamped after it failed to achieve its objective.
6
Who is going to contain the U.S.?
1
What are you talking about. How can TTP have failed when it was never in place.
2
The TTP was the economic implementations of President Obama's "Pivot to Asia" whose objective was to contain a rising China.
The strategy to contain China failed. That is the reason that the TTP did not come into being . And that is why it needs to be reformulated
For more
https://thediplomat.com/2017/01/the-pivot-to-asia-was-obamas-biggest-mis...
When President Obama was advocating the deal, he said “America should call the shots” instead of China....
[ Perfectly self-defeating. The point is fostering mutually beneficial trade between nations and not self-defeating shot-calling. ]
4
I take it you're happier to have China calling the shots.
9
We don't have mutually beneficial trade with China. They have been calling the shots.
If an American company builds a factory in China, they have to share technical knowledge with the Chinese, but not the other way around. China is also engaged in large scale economic espionage, regularly stealing technologies. China subsidizes its heavy industries to steal market share, prying our companies at a competitive disadvantage, because Republicans are against subsidizing our industries, and Democrats don't make it a campaign issue. The Chinese keep their currency artificially low, while we keep our currency artificially high, and China uses other methods to keep our products out while we block almost nothing.
Having cheap junk from China being sold at Walmart has turned many of our small store owners into Walmart "associates," and many Main Streets into ghost towns. (Their own greed is partially responsible.)
What good is having lower prices, if it undermines worker/consumers, small business, local manufacturing, and the global environment?
Let's live in the present, not in the past...and admit the failure currently of Trump to do anything with any ally, which is far worse in my opinion. A President who has brought nothing for America since he took office except scorn.
Woe is us.
17
Looks like we'll all become vegetarians. With the meat industry suffering from steep foreign tariffs and high priced steel the whole segment is likely to fail. With farmers having to resort to non meat crops with no overseas outlets the prices should drop as domestic produce floods the market. Sure looks like it will be "easy" as our fearless (and brainless) leader thinks. Hope his rural voter base is happy.
59
I hate Trump but as a vegan I am not opposed to the 38.5% tariff on the beef. It's shameful that in 2018 we still rely on animal products. This barbaric institution has to come down and I am ready for the sacrifice. If Trump is the one who does it so, let it be.
30
Well, then, when we all turn vegetarians, Chief Doofus will brag about making America healthy again. (But he will still be unhealthy and eating McDonalds. He will be able to afford them.)
5
Who will pick the crops?
5
We may be left standing in the dust looking down the industrial highway of those countries who choose to remain in a relative open market. So sad that a man near sighted man is driving our country to the brink....
34
You all keep assuming that Trump's trade threats are what he really wants to do. Trump lies and changes his mind constantly.
As a commenter said recently, he will probably change his mind about steel tariffs as soon as the Pennsylvania primaries as over.
He is now hinting he will join TPP, as I predicted before he got elected.
Trump is s global billionaire. He has resorts in numerous countries. He licences his name to hotels around the world. Most of his merchandise and his daughter's merchandise is made in foreign countries, often with immigrants to those countries, under sweatshop conditions. He bragged that he uses Russian Banks.
Everything he says about trade is just bluster, designed to get him elected, and now to placate his base.
Trump is a pathological liar, using the presidency to make himself richer. Any resemblance to actually policy is an illusion.
4
The problem is, for a functioning and growing economy, the LAST thing businesses want is unpredictability and the inability to plan and strategize going forward. This President has it, in SPADES!
Hopefully 1) we elect a sane person to be President in 2020 and 2) these 11 countries allow the USA to join this pact in 2020.
100
And hopefully we will still have the economic strength to join in 2020 as a real partner, not as a 3rd world debtor country.
1
Free trade = free of American manipulation.
6
So in NC you think America is a manipulator? How about Participant? Not with Trump, that is for sure...He does not care who he slurs or who he annoys, and so in the end we will be out in the cold...with high tariffs though! Which will hurt all of us when the price of manufactured goods increases. An idiot for a President means we suffer, not other countries.
7
This is probably the best explanation of the TPP's purpose I've ever heard. I've been arguing many of these same points for years now. Where were these commentators when Obama needed to make the public argument for joining the TPP? The TPP is pro-trade and pro-global but primarily the partnership is a non-violent means of preventing an increasingly autocratic China from obtaining Pacific dominance. The public never seemed to get that message.
Admittedly, neither the TPP nor the Obama administration ever addressed the underlying structural hardships that result from globalism. This led to the misguided popularity of Trump's protectionism. As you might notice, cattle ranchers just took nearly a 40% price increase in Asian markets and global steel markets are about to respond in kind. So while we need a domestic response to globalism, protectionism is probably the worst possible solution.
Oddly enough, the domestic solution is probably ideologically aligned with the free trade mission. If you share prosperity more broadly, everyone prospers more. In other words, wealth inequality and economic insecurity are the root sources of animosity towards free trade. The pie is growing but not everyone is getting a fair slice and they know it. If you fix this problem, attitudes towards free trade will change.
152
Obama was trying to push the TPP through in secret. The deal was negotiated in secret with corporate lawyers, with no representatives for workers or the environment. The deal itself said that the provisions wouldn't be made public until after the deal was Fast-tracked through Congress and signed.
The only reason we ever found out about it is that a group of activists, known as Trade Justice worked to make it public for over five years. (They are still working against TPP). After years of banner drops off of DC buildings, and leaks of the actual language of some sections, Bernie Sanders picked up the issue and opposed the deal, and then Trump and Clinton who had said it " should be the gold standard for future trade deals," followed behind.
Negotiating in secret with global corporations is no way to write legislation, especially legislation that transfers sovereignty to global tribunals run by corporate lawyers.
Shortcuts to "free" trade are extremely profitable for the billionaires who own the global corporations, but not for the workers or the environment.
The current free trade regime is a global race to the bottom where countries don't compete on actual natural advantage, but on reducing wages, benefits, and regulations that protect consumers and the environment.
Fair Trade takes time to negotiate, but if we had started 35 years ago, demanding that our trade partners paid their workers decent salaries and protect the environment, life would be better now.
2
~The public never seemed to get that message.~
The message the public got was that the TTP superseded sovereign laws regarding many things. You know like environmental, labor, human rights laws.
If not how come these negotiations and there complete impacts were conducted in secrecy and fast tracked?
Multi-national corporate laws over sovereign rights?
1
I've been on board for a long time. While these trade pacts aren't perfect, without them trade would continue anyway, and production will always move to the least expensive source, regardless of regulation.
What these pacts do is put a floor under product safety regulation, intellectual property protection, environmental protection and labor rights. That way we can trade on a more equal footing, and American workers don't have to compete against Thai slaves or Chinese polluters. At least not to the same extent (it will take some time to wipe those things out).
Opposition to trade deals is easy--it's always those people and companies that are hurt that make the most noise (and I agree with the notion that they should be helped). Those that benefit quietly go about their business.
4
Trump and yes Bernie took down a smart worldly women who would have continued building a better, more inclusive world. Instead we have the USA leading a block of countries toward nationalism and chaos. We all know how badly that ends. It's hard to believe how far the USA has fallen in such a short time.
China isn't the only country that needs to be countered. Sadly, Russia, Hungary, Poland and the USA needs to be included in that group.
75
Clinton has no principles. First she said that TPP "should be the gold standard for future trade deals." Then when Bernie opposed the deal she changed her mind. Then when Trump reminded her what she said about TPP, she denied it. Then the video came out showing her saying it. If she got elected, she would have changed her mind and signed it anyway, just like Trump will.
People like Bernie because he is consistent and he is obviously for workers and the environment. Clinton is none of those things.
No one is interested in a "lesser evil." The American people want the Greater Good.
Even those right wing workers who "vote against their own interests" are often doing it because Republicans have them convinced that lower taxes are actually good for the economy.
If Democrats, other than a handful like Sanders and Warren, consistently, intelligently, and passionately explained why taxes and government are good for the economy, instead of begging for compromise from the "Greater Evil," many of these people could be persuaded.
The Centrist Democrats keep saying, don't worry, in the long run, free trade will be good for you. But the long run has come and gone and it's only good for global corporations.
The Democratic Party put up the only candidate that could have lost to Trump. Until Democrats admit that, you are doomed to keep losing to the "greater evil."
2
Actually, it was people like you who caused the election of Trump (I voted for Clinton in the general election and trade is one of my few areas of disagreement with Bernie Sanders, although I voted for him in the primary, by the way). This is a democracy, and if everyone is exactly as entitled to run for office as Hillary Clinton. Barrack Obama "took down" Hillary Clinton in 2008. Turns out, just being married to Bill Clinton isn't the same thing as being Bill Clinton. Maybe she'd govern well, maybe not, but we'll never know because she's a godawful incompetent campaigner. Given her campaign performance and post-election behavior I now have grave doubts about her overall competence and mental health, too - I'm sure she would have been better than Trump, but I don't mean that as much of a compliment.
She literally schemed to make sure that no electable candidate could beat her in the primary again and now we have Trump as a result.
She had the most rigged primary at least since WWII, the most heavily funded campaign in the history of any election anywhere in the world, and the least popular possible opponent, who spent almost nothing - and she lost anyway.
That's a pretty humiliating pie to have smashed in your face - losing to Donald Trump, especially after spending four years scheming hard to be nominated and burning a billion dollars in campaign spending. And that pie can never be washed off. She'll never, never, ever, ever be elected to any office again.
3
Bernie had nothing to do with it. No one has the right to run unopposed in the primary.
2
While it's beautiful watching america collapse, but those of us in productive states need to prepare for the future. It's time we dumped the united failed states anyway; let those trump-supporting drug addicts support themselves from here on. #calexit
36
Brilliant. Read an article on international accords that unify nations and the need for the United States to lead, and demand fragmentation.
1
Sorry Robert, but, the reality is, throughout history ALL Empires eventually, self-destruct and the world goes on.
Bottom line - Trump doesn't have a single victory when it comes to implementing his new trade policies. That is not winning unless winning just means just having a Republican in the WH
28
Two different Trade deals a new weaker Comprehensive deal and the US backed (written) TPP. Even the slightest of indications that the TPP is mentioned in passing, says it is still a viable option for the administration and big business. If these trade tariffs on imports are the beginning of the strategy to reconstruct the necessity for the TPP, this administration will pass it faster than a TAX ACT bill...which is the ultimate goal for this legislative business climate of today, the icing on the cake of Corporate globalization.
Question is will it be before the mid-term elections...and see many more democrats on board with it this time around. Maybe we could get some gun legislation or DACA/immigration reforms and infrastructure programs going for supporting a TPP trade deal with out protectionist tariff's.
1
It will happen when Trump needs a distraction more than he needs to be against TPP.
Republicans will give nothing for TPP, and centrist Democrats will provide enough votes so that Republicans won't have to vote against American jobs.
Wow, how the times have changed. We had a Democratic President pushing Global trade, and a GOP counterpart nullifying it.
Seems GOP is intent on veering to the left of the traditional "lefty's". Tariffs, Infrastructure spending, deficits, "maybe" even gun legislation, are GOP thoughts in the last one year.
Maybe in 2020, they may be discussing Universal Health Care as GOP platform..LOL
8
That shows you that left economic policy is so popular that Republicans are using it to get elected, while "centrist" Democrats keep pushing unpopular Republican policies.
If Democrats would stop declaring defeat before the argument even starts and giving up their principles before they enter negotiations, they could easily convince most workers that instead of the Fed "printing" trillions of dollars of free money for global banks, and corporations getting $5.5 trillion in new tax cuts paid for with higher taxes on workers, that the government could actually invest that money in them and their children. Most workers want "beautiful healthcare and education for everybody" and shorter, safer commutes, jobs, of a massive infrastructure plan, but while Trump promised them that to get elected, Clinton said they were impossible.
Workers make up 60% of the population, while 10% of the population owns 84% of stocks. If Democrats concentrated on using the government to make workers' lives better they would have at least a 3:2 advantage at the polls.
But instead Democrats refuse to call for tax increases on the rich, refuse to fight for universal healthcare, refuse to fight to subsidize higher education so new graduates aren't $25,000 in debt, and refuse to create jobs with a trillion dollars in infrastructure.
You cannot retreat to victory. You don't win votes by saying the things workers need are politically impossible
Democrats must LOUDLY fight for workers to win.
Isolationism never helped America and it's not helping now. We need to reclaim the mantle of 'leader of the free world' instead of stewing inside our closed borders- and minds.
25
Somewhere between isolationism and "unfettered free trade" is good policy. But Republicans and centrist Democrats keep selling extremism as moderation with the help of global corporate mass media.
Protection is generally considered a good thing. We protect our children, our reputations, or communities, ourselves.
But somehow Protectionism is evil. The idea that as soon as we invent solar panels we shouldn't let the Chinese steal solar panel technology and subsidize their solar industry to put our factories out of business, is somehow backward.
Before Nixon, Reagan, Clinton, and Bush opened us up to China, under Kissinger's tutelage, one American worker could raise a family, buy a house and a car, send their kids to state college, and retire with a decent pension. We threw that all away because Republicans and centrist Democrats promised that in the long run "free trade" would make everyone better off.
Fifty years later the long run has come and gone, China has a growing middle class, and lots of new billionaires, global corporations and the billionaires that own 75% of their stock are concentrating ever larger shares of the world's wealth and political power under their control, and the American worker is losing good careers to work part time "gigs."
While minorities as still struggling to catch up, white workers are falling so far from where they were that their life expectancy is going down and they are ever more susceptible to racist scapegoating.
"Free" trade?
So of the 11 countries, how many have a larger GDP, and more foreign trade than the United States...
Correct, none.
We have no obligation to sign on to a treaty if it is not balanced. Could care less what the media say.
2
You are missing the point. Asia has a collection of the fastest growing economies in the world. TPP was putting us in the position to be the most influential voice in the direction of trade in the region for years to come and the countries involved wanted us in that position to counter China's rising power. Our uninformed president did not even realize that China was not included in TPP. His stupidity has now resulted in China being in the position that we should have been in.
1
Firstly, let all Americans fear the day when any one other country has a greater GDP.
Now, more foreign trade presumes trade with foreign countries doesn't it? How much U.S. GDP comes from trade with these 11 countries? Isn't trade agreements with these countries as a member of the group better than as an outsider or should we just forget about it?
And more precisely, how can an agreement be reached with anyone where one party wants more benefits than others in the agreement and tells the others so?
Won't domestic aluminum and steel producers be able to raise their prices and profits and still have an advantage against the imports. And until the lost imports are replaced by increased production of those metals by domestic producers, either by increasing plant, staff and equipment or by increasing productivity, if possible, won't there be less steel and aluminum available causing higher prices for all production with those metals for both domestic and international trade?
Makes no sense at all.
It’s not about the individual countries; it’s about the combined total. Their combined negotiating power has the potential to match (and surpass) ours.
1
The TPP was a dumpster fire & the NYT has not addressed that aspect of these so-called "free trade" deals. Most of it had little to do with trade and was a wish list of lobbyist stuff that could not pass Congress on its own. A Prime example was language similar to the Stop Online Piracy Act (SOPA) and the PROTECT IP Act (PIPA) despite those being despised by the American people and defeated in Congress.
Then there is the whole Investor-State dispute resolution problem. It allows foreign companies to sue the Federal and lesser governments via Kangaroo Court Tribunals that can be used as a cudgel to void good laws under claims of lost profit. Big Tobacco used such a provision in another trade deal to fight laws regulating labels on cigarettes designed to discourage smoking. This looks like it impinges on the sovereignty of our Federal and State governments.
Then there is the whole "fast track" thing where Congress voluntarily handcuffs itself and does not hold public hearings, does not offer changes to the document and can only vote up or down. This violates the oversight role of Congress in concept if not legally.
Finally, the whole thing was written in secret and mostly by lobbyists. All the moneyed interests were present, but labor, environmental and consumer groups were shut out- this despite promises by then Candidate Obama that they would have a place at the table of any trade deal negotiations.
I do not oppose free trade, but this was a mess that deserved to fail.
10
Hmmmm, start a trade war with the world (out of a fit of pique, no less, and unrelated to trade).
What could possibly go wrong?
17
Trump is good at using common sense. It is simple common sense that the US cannot maintain open immigration without having its standard of living go down - as we seek to support the 10's of millions of people seeking to escape from poverty.
But seeming common sense does not always apply in physics or economics. That TIME is relative is seemingly absurd. So to the idea that putting a tariff on imports will hurt us, is not common sense.
It requires thoughtful analysis to understand how a lack of tariffs shepherds people into doing what they do best resulting in the most efficiency and the greatest good for all. Economics developed over a hundred years to gain these non obvious insights - Wharton professors should be embarrassed that their student doesn't comprehend them -
4
Common sense says you can't have economic growth with a declining population.
The U.S. 'white' fertility rates are not even at replacement level, the decline will cost the future of the country ( tax base, production, & consumption -- all need PEOPLE).
2
I completely agree that "common sense," is often wrong. The sun doesn't rise or set.
But the current world trade regime, that would be accelerated by TPP, is not about actual "natural competitive advantage" as described in economics textbooks.
Global corporations locate their factories based on low wages and slashed worker benefits,, low taxes (which means low investment in humans since austerity programs attack education, healthcare, research, etc.), and cutting protections for consumers and the environment.
These are artificial advantages created by doing long term damage to future productivity, which is born out by our lagging productivity.
Natural advantage is supposed to be based on natural resources, the specializations and flexibility of skilled labor, and advanced management techniques of government and local business.
The current trade regime is not based on actual textbook economic theory. It is based on the "common sense," of global corporations, who don't look beyond the next quarterly report to realize that sick workers are less productive, that there is a reason they can't find skilled labor, that global warming will cause a lot more than nearly free renewable energy, that they are no longer getting free basic research paid for by the federal government, or that the economic dislocation of billions of workers could cause world chaos.
Natural Competitive Advantage is the opposite of a Global Race to the Bottom.
Corporate economists are lying to you.
Canada and Mexico will now have free trade with both the European Union and with CPTPP countries, which includes Japan, and which the UK will shortly join. Good luck with trying to bully Canada in the NAFTA negotiations. Our closest allies have moved on. Sad.
21
The tariffs being purposed is simply a political ploy to keep the rust Belt Republicans for the Mid Term Election.Trump refers to it as keeping his promise to bring jobs back. It won’t bring the Jobs back, rather we will wind up losing jobs as the foreign market will retaliate.Trump is an advocate of the thinking that the end justifies the means, it’s in line with the Fascists that came before him.
11
Actually he’ll wind up losing a bunch of the rust belt. Namely every factory worker that builds a product that requires steel or aluminum like cars, beverage cans and yes a product that is like 99% steel - guns!
Where is the NRA on this one. First he says he’ll take your guns without due process and now he’s making it harder to buy a replacement.
Welcome to Intra-class warfare.
1
The world community is leaving America behind. Once the respected leader in global affairs, the world is literally passing America by while this president tweets and twiddles his thumbs. The US in now topsy-turvy, in a nosedive of its own making.
Countries are forging ahead in the 21st century with an eye on commerce and technology while the US sits idly by and pines for the bygone days of coal instead of solar energy.
America's greatness has been replaced by protectionism and nationalism, and this president has effectively isolated the country from the rest of the world. There are no "great deals" or "so much winning" for America right now.
32
When you let global corporations abuse workers, and then use the media they own to scapegoat other workers, worker anger will be directed at the wrong targets and lying demagogues will take power.
I'm not a nationalist, but I do believe in the constitution, and the enlightenment theories of individual sovereignty and a social contract that they are based on.
Global corporations are using."trade deals" to transfer your sovereign power, which you have lent to your representatives, to transnational organizations where you have no voice. It is trade without representation.
It is the arguments that we have to keep slashing taxes to attract investment by global corporations that is keeping us from investing in ourselves. China is not doing that. China invests in modern infrastructure, subsidizes heavy industry, and sends its children to American Universities to become engineers and scientists.
But the U.S. is disinvesting in itself because actually investing in or own people and our own country goes against the "free trade" religion, invented by Milton Friedman and Henry Kissinger, and sold by the Clintons, by taking classical economics and throwing out all of the inconvenient details, like monopoly power, externalities, perfect market theory etc., to make market manipulation and greed desirable instead of anathema.
They have pushed the idea of commerce so far past what respectable economists used to write in text books, that a pathological liar is a "business man."
1
"Trump won't last forever." While that may be a true statement (unless he becomes President For Life), the impact of his actions may seem like they do. Industries that bear the brunt of his actions may take years to recover.
Unlike the Trump Organization, most businesses can't declare bankruptcy in one area and continue on in another. For instance, if punitive tariffs were imposed on Harley Davidson, the company can't stop making motorcycles and rely instead on revenues and profits from leather jackets. California vineyards can't rely on logo goblets if the core wine business takes a massive hit. So, just as much as policy makers in Asia fear that Trump may take a swing at them, so too should American companies.
16
Your exceptionalism has taken a twisted turn into isolationism at the worst possible time. For you. We are moving on, cutting our losses, and forging new alliances. We will all be poorer for you decision to go it alone, but we can't afford the alternative.
Chaos, that hasn't even begun to show its full strength, engulfs the administration and is rippling out into all branches of your government. This, at a time when we are being challenged with real and pressing global issues, issues that are deemed fake news by your own government. We can't join you in that madness. We don't need to have those insane conversations anymore. China is embracing the new technologies because it has almost destroyed its own environment and because it sees where the future markets lie. And that's only on front. There are many others.
Our future is global. Please join the human race again as soon as you can.
148
You're being entirely too rational; this is the other side of the looking glass.
3
Please remember that the majority of us did not vote for this lunatic. He also has the lowest rating of any U.S. president.
2
Who is this "you" you speak of? The majority of American voters did not vote for Trump. It is an artifact of our arcane electoral college system and systematic gerrymandering that he was elected at all. Most of us are suffering and humiliated by the way this incurious and incompetent man is demolishing the institutions and alliances of this country.
It is not helpful for our allies to conflate his election with the sentiments of this country's citizens. More than half of us deplore Trump's "values," his practices, and his venal and unqualified appointees.
1
A sign after the Brexit vote also applies to the Trump administration in that "Pride and Prejudice" wins out over "Sense and Sensibility."
10
American companies can't survive if they only sell their products to Americans. American manufacturing cannot thrive without exports of our products to other countries. If American beef producers have to pay a 38.5% tariff to other countries, exports will drop. Even if trade remains open with Canada and Mexico, it's not enough, and beef producers (and others) will see their profits dwindle. The countries included in this new agreement will continue to trade with each other, but American companies will be left out. How can anyone think that's good for American companies and workers? Prices on American goods will rise so that the workers who produce those goods cannot afford to buy them.
8
Since DT seems to do the exact opposite of what is really in the best interests of America- despite his MAGA rhetoric- I would not be surprised if he is taking orders from Putin to destroy America.
This may sound far fetched but there were credible news reports just the other day that Putin out the kabash on Mitt Romney as a possible choice for Secretary of State. Of course, they approved Rex Tillerson who has had a very cozy business relationship with Putin.
Moreover, Trump and Tillerson have not spent one penny of the millions allocated by Congress to combat Russian election interference.
Trump has not directed any of his security agencies to do anything nor has he shown any leadership whatsoever on this.
I guess he doesn't have time since he spends his time on twitter about Alec Baldwin and Oprah Winfrey like a 12 year old.
This is a much bigger story than the Stormy Daniels debacle but yet the salacious aspect of the porn star scandal gets much more attention.
In any case, Trump's policies are very damaging to this country. He needs to be removed from office.
17
Trump is doing everything in his power to alienate all of our allies, both economically, environmentally and security wise.
I can understand this because he has said he puts America first, just like he puts himself first in his household. The problem with that is you should be putting your loved ones first and they in turn will do the same thing for you.
We need to let our allies know that we will be there for them, or god help us.
5
Do our policy makers foresee new American factories with endless rows of sewing machines and freshly-employed American former basement dwellers making fast-fashion for high school girls? What will this work pay?
5
http://cepr.net/blogs/beat-the-press/when-u-s-drug-companies-insisting-o...
March 8, 2018
When U.S. Drug Companies Insisting on Stronger Patent Related Protections Were They Really Trying to Counter China's Growing Economic Might In Asia?
That's the question New York Times readers are asking after reading the lead sentence of an article * on the signing of an agreement by the other eleven countries that had been part of the Trans-Pacific Partnership (TPP). The sentence tells readers:
"A trade pact originally conceived by the United States to counter China’s growing economic might in Asia now has a new target: President Trump’s embrace of protectionism." ...
-- Dean Baker
1
This isn't just about trade. This move signifies America's abdication as a global leader. It signifies a great loss of US geopolitical influence. Trump is like a big dumb bully who pushes other kids around on the playground. The kids got mad, and built their own playground to get rid of him.
The other nations know they can do better with the US, but if we won't play nice, they will move on without us and do the best they can.
Once other nations see how the signees are prospering, they will want join up or form their own similar organizations. The bully will end up playing by himself. In the meantime, US exports will suffer and the very people that support Trump to the end will bear the brunt of the resulting job losses.
363
Silly nonsense. It was another Obama holdover that was not in the best interest of the United States in its present form.
Let them move on without us, and without the U.S. market.
Somehow it's doubtful they will
2
Obama tried to do the whole deal in secret. That is why, when the secret got out, he counselling make a good case for it. It was a bad deal designed by corporate lawyers.
Ironically, I've just turned the radio on and 'These Happy Days' was playing! A sad irony.
I think smaller but truly international institutions like the TPP may be one lasting silver lining from the era of Trump and the Tea Party. By being both strong and trusted for the decades after WW II, the US provided stability in a troubled world. Now it is time for global institutions to step up and start to provide global solutions for global problems.
Hopefully Trump, today's GOP, and their specific policies will soon become distant memories. However, it will take decades for the world to trust the long-term political stability of the US government again. During this time there will be at least a chance for truly international institutions to evolve and mature.
18
I am glad that 11 nations worked out a new trade agreement even without the leadership of the U.S. As we see from the history of E.U. that originally started from the economic agreement, new TPP of the 11 countries may evolve into E.U. type political entity someday in the surprised faces of the U.S. and China. This would stabilize the world as these 11 countries with more influence by Canada could offer a calm advice to the heated argument between the U.S. and China.
21
Have you noticed that the EU is not doing so great these days?
The U.S. has a right to demand fairness to our producers first. No points for merely signing something that doesn't do that.
Maybe someday the economy of Canada or Vietnam will overtake the United States and they will have more to lose. Doubtful that will ever happen of course!
1
There is already a proposed trade agreement, the RCEP, that includes China, India, Australia, and all the ASEAN members. It would make up 39% of the world's GDP. The agreement has been stalled due to so many disparate interests - but, in light of Trump's "easy" trade wars, it will probably get a big push. If that happens, or if China were to join the TPP, American exporters (especially Trump-loving farmers, who are already suffering) will be crushed.
31
"While American beef farmers will have to pay 38.5 percent tariffs in Japan, for example, members like Australia, New Zealand and Canada will not."
I'm sure that most in the beef industry voted for Trump. Well guess what, More expensive steel is going to mean your costs are going up and the tariffs mean your income is going down. America First? Much more of this and it will be America Last.
261
No one on this side of the Pacific pond will be crying over the higher cost of antibiotic hormone infused feed lot grain fed US Beef. The US can eat it.
2
We rebuilt Japan after WWII, helping them become a world trade force. We buy their cars, etc.
But they charge us 38% tariffs, and that is your argument that "free trade" is good for American workers.
It is faulty logic like this from Democrats that sends workers to people like Trump.
If TPP was a "trade pact originally conceived by the United States to counter China’s growing economic might in Asia" why was it negotiated in secret by U.S. corporate interests?
And why did it contain provisions allowing foreign firms to sue municipalities, states and the U.S. government in privately run courts, for implementing environmental protections which cost such businesses profits?
And what did drug and patent monopolies, on which the American side insisted, forcing both Americans and foreigners to pay more, have to do with "countering China's growing economic might"?
The party line never dies?
8
To say nothing of the SOPA-esque anti-internet stuff.
One thing's for sure: it's one of those things that President Obama pushed (suspiciously fiercely) for that I actually DON'T tolerate or forgive—and I, barely, tolerated "looking forward" from the Iraq atrocities of Dubya if it meant the GOP would crack and allow negotiations for non-crazy laws. (Since they instead committed Supreme Court seat theft and generally went full covfefe, I think Democratic concessions should now consist only of "nope" and repeating their demands slower and louder.)
1
Shhh...! Not supposed to talk about that.
CNN and the NYT say that we must believe that any multinational deal is 'good' especially if it disfavors America...
Repeat the mantra...
1
The issues you bring up are critical to future trade pacts. Thoughtful politicians such as Elizabeth Warren have been pushing for eliminating the secrecy and lobbyist domination of trade negotiations. Sadly, supporting such efforts requires some thoughtful involvement. The protectionism championed by Trump and Sanders are not the correct answer. Wresting control of trade negotiations from industry control is worthwhile, but may be too complex for our poorly informed voters to understand. The primacy of solutions that can be expressed in just a few words is a good index of where this TV obsessed culture is.
1
I don't think that the US will be coming back to the CPTPP any time soon, whether under a Democrat or Republican government. Free trade agreements have been largely demonized in the US, on both the left and the right. The corruption of the American political system has hardened these attitudes. For the US to enter a FTA now would first require that political figures in the US act to rehabilitate FTAs in the eyes of the motivated public. Doing so means acting to mitigate their most harmful effects. But the American political establishment, particularly the Republicans, are opposed to social policy and activist government. Thus, everything they need to do to make FTAs palatable are exactly the things they will not do.
12
Many Americans post-NAFTA did not want the TPP. They believed it like NAFTA would mean that manufacturing would move to countries where people were paid lower wages -- for whatever reason housing (people's main cost along with medical) is less. When an NYTimes editorial bemoans that Europeans will not be able to sell cars in the USA as a result of the Trump tariffs -- whatever happened to buy American? (We can't produce anything here?? Our role in the world economy is to invent technologically things that are produced overseas and to trade mostly in weapons of destruction (war machines) and agricultural products ... and act as the policemen for the world for which we are so far as I know nor repaid?) Yes, Trump's election meant disruption. Bourbon in France costs the same or less than in the airport. Do Europeans eat cranberries? Lingonberries are much nicer. We'll see.
1
Trump thinks by pulling the United States out of trade agreements, other countries will come running, begging for us to come back to the table. The truth is the rest of the world will just move on without us as we are beginning to see.
180
Trudeau is on thin ice with Caadians. His 'climate pipeline' is a farce. His national pharmacare is a hollow, unfunded pledge from the Toronto benefits lobby. The Administration is talking about exemptions from tariffs today. There will be no exemption for softwood lumber, even though dispute resolution has adjudicated it a dozen times for Canada. Conifers grow out west. President Trump has a point about bilateral trade. Leverage and verification are better. If Trudeau is for TPP, I'm against it.
10
Apologies again (3G hangs): on thin ice with Canadians.
Sadly, "Trumpism" has infected a minority of Canadians too. I wonder what this poster's comments will be should the Liberals be replaced with the NDP and Jagmeet Singh as Prime Minister after the next election.
1
Now there's a mature and well-reasoned perspective, "If so-and-so is for it, I'm against it." And somehow this becomes a top pick according to the NYT. Clearly, facts and analysis have no place in the New World Order.
2
There was widespread protest in NZ from people on the left side of the spectrum for the creation of the TPP (which was first signed in my city). While Trump is abhorrent, it now seems convenient to side the support of globalisation and free trade (something that most people can now see the ill effects of on lower socio economic groups within Western nations) because Trump is against it. Despite other counties moving ahead without the US - I'd like to see some balanced reporting on why regional free trade deals lead to inequality as part of broader discussion.
64
I never understood, how free trade could benefit people in developed countries. One may argue endlessly with statistics showing how economy is growing or world trade is growing or something. The pure fact is - free trade washes out jobs from developed countries to poor ones. Period. Free trade is obviously good for countries like China or Bangladesh, and it's extremely great for business chieftains and wealthy investors. But it has damages millions of once well paid jobs in countries like USA, Germany, Australia. Everyone talking last decade about evaporating middle class and growing inequality, as if it transcendent or nature forces are responsible for it. Nope.
The truth is simple. Free trade is destroying middle class.
After all, everyone who advocates free trade and globalization, must honestly answer a question: What do you need more - better salaries or cheaper sneakers?
4
No mention whatsoever , much like TPP, in the right of corporations to go into any of these third world countries and not be liable for environmental damages.
The benefactor of these type of trade deals are corporations. Workers in the more affluent countries get shut out. Cheap labor is the primary aim of the corporations. None of this is any good for the American worker.
2
Goes to show that the US is not needed. Countries can function and make their own agreements without US involvement. We are going to learn the lesson hard because a middle school boy wants to put his project on show.
25
You're either on the bus or you're off the bus. Arrogantly proclaiming that you're getting off the bus unless all the other riders carry your luggage gets you exactly this, standing at the curb as the bus pulls away.
Trump has never understood that negotiating in the world market for the benefit of the U.S. is not the same as negotiating in a closed room with some guy you're trying to buy a building from. The economic, political and diplomatic nuances of international trade agreements require an understanding of where concessions are offset by gains, especially since those connections are rarely obvious on the surface. Trump's one dimensional winner/loser view of the world makes it impossible for him to see this.
The silver lining that is beginning to show itself repeatedly in these reports is the world's recognition that "Trump won't last forever." It's everyone's best hope.
54
Love the acid test reference, if only the orange blob had been dosed as a child
2
When when Trump is gone we will have to ask for readmittance to the community of nations. Fortunately, from reading the article, it sounds as if they will be willing to accept us. But our role in Asia will be diminished as we have ceded leadership to China. If China manages to join the new pact then our leadership role in Asia will be over.
8
Trade wars are easily winnable? From the looks of it, the away team is getting ready to test that theory.
12
Trump is making China great again by giving up the leadership role of the USA in the Pacific rim. Future economic growth will bypass the USA and we will lose ground to the rest of the world economically. China's leaders are smart, investing in renewable energy, high speed trains, robotics, AI, and other growing technologies, while Trump wants to take us back to an obsolete economic model that anyone with an ounce of intelligence knows won't work again.
53
When Obama cushioned the effects of the euphemistically called "Great Recession" he also made global armed conflict less likely; such conflict was largely the result of the world wide economic disasters of the 1930s. Trump, having no sense of history and a simplistic idea of cause and effect could get us into a depression and the war that is likely to follow.
14
“If you’re a trade policy maker in Asia, your No. 1 fear is that Trump is going to take a swing at you.”
Trump might think that makes him sound like a tough guy and strong leader, but what it really means is that the rest of the world will protect their own interests in ways that this Administration will never see coming.
58
When Trump said he'd possibly "spare" Canada, it gave the game away. The man still thinks he's on a television show, and he's considering not voting Canada off the island. It's all about attention and distraction. If it destroys our country in the process, well, meh, right, GOP?
108
Let us never forget the infamous failure of one of Trump's more impetuous and risky business ventures.
As the owner of the Generals in the United States Football League back in the early-to-mid 1980's, Trump talked his fellow owners into abandoning their spring football schedule and instead compete head to head with the NFL during the fall and early winter.
Trump's gambit was the death blow for the USFL. By and large, fans favored the NFL and the USFL soon folded.
With this failure (along with many others) on his resume, why should we believe the steel and aluminum tariffs will have any more success than did his USFL?
But please let's not call Trump names or labeled him with nasty adjectives. Ad hominem attacks lack class and are inevitably ineffective.
But Trump's record as a businessman is fair game and deserves a close look.
Too bad his record -- instead of his personality and morals -- had undergone the greater scrutiny in 2016.
5
No mention, at all, of its corporate-friendly "ISDS" or anti-internet terms, aside from a disturbing and disturbingly brief mention that it "will bolster protections for [the obsolete and anti-intellectual mindset of so-called] intellectual property", or whether they were changed since the vile TPP was finally made public after years of leaks, each more terrifying than the last, from drafts.
The United States deserves to be diplomatically and economically shunned by the developed world so long as we tolerate "covfefe" and his GOP, but (unless there were some radical changes to the vile TPP since the US's thankfully-failed brush with it) signing a corporate pact is not the way to do it. It'll only earn the developed world's citizens—especially those abused by ISPs, copywrong-friendly "tech" corps like YouTube, or multinational employers like Coca-Cola—my gravest concern and deepest condolences.
2
# 1 Market in the world.
When you have that type of record you don't have to worry that people will stop selling to you, they won't. We want them to buy. WE want them not to use their slave / low wage manpower to dump their products into the USA and unfairly place our critical industries in jeopardy.
We have a significantly more important reason to save these critical industries than to save the dilettantes in the suburbs of NY or San Francisco a few bucks buying and driving their Lexus/Acuras/MB etc.
We need industry, we need factories that produce products and we need skilled people who know how to do the metal crafting skills that are needed for national defense work.
3
Actually, what we need are people who can program the computers running the steel mills making those products that our military need. The man running a lathe making single product for use is a thing of the past. The craftsmen of today are the folks who program the factories to turn out our products.
A known fraud and full-time conman with an aversion to details, a lack of understanding of issues, and no willingness to learn showed up on the world stage in a position that exceeds his abilities and capacities.
Did he really think that the rest of the world would bow down to him as if they were competing on The Apprentice and not realize that he is The Apprentice?
225
Putin did.
1
In a sense, they're not allowing him to cheat at golf - as he himself admits to doing.
1
Let us hope that this recognition that the US no longer can be depended upon extends as well to provision of military security. Then those countries that fear domination by China or North Korea will realize that if, in the future, they wish to be protected under a nuclear umbrella, it will have to be one of their own provision.
2
Walking away from the TPP was a wonderful, strong looking gesture for Mr. Trump, but it stole our persuasive power from the entire region. Now China is the biggest dog in the kennel, and they will control how trade works, and build relationships with other nations that we will be unable to counter.
Mr. Trump is doing a great job of speaking to his "base" but a terrible job of serving American interests in the Pacific. We are becoming more isolated, weaker, and less influential in all of our international agreements. Mr. Trump's most recent decision to impose aluminum and steel tariffs will only exacerbate this isolation, and make the U.S. a target for economic payback by all of the world's nations. American workers will pay the price. Investors and international corporations will come out of this ahead, but American workers will pay the price.
5
If Americans want to lower China's influence on our economy, then look at the label and don't buy Chinese products. Americans are addicted to cheap. We buy 4 pairs of flip-flops (or shirts, sunglasses, etc) when we only need one. Many Chinese products are sub standard- lumber (Lumber Liquidators), sheet rock (that corroded the wiring in Katrina rebuild homes), toys painted with lead paint. American consumers vote with their dollars-vote wisely.
Oh, and remember Trump used inferior Chinese steel in his hotel construction!
347
I agree with you. Pretty pathetic though, when we have a President that, along with his daughter, have everything they sell made in China or some such low wage country!!! Even those pathetic hats.
9
Americans are 'addicted to cheap' because their wages are so low.
6
It's far worse than flip-flops. Our technology edge has been eroded; our kids shun STEM subjects while the Chinese educate their kids.
I design PCBs and usually need small prototype batch runs - one small 4-layer design (90 x 60 mm) I did last week was quoted by US manufacturers at $35 each for 10 PCBs; a Chinese company quoted the same job with acceptable quality for $50 total + $20 shipping - that's $350 from the US manufacturer, or $50 from the Chinese, both plus shipping.
There is only one solution to all of this. In 2018 - vote. In 2020 - vote again. For a Democrat, for each and every office. This President has proven himself an unworthy, unprepared, shameful inhabitant of this office, and this GOP controlled House and Senate have proven themselves unable and unwilling to be trustworthy stewards of our democracy and place of leadership in the world. The U.S.A. is very weak at the moment as a world leader, and we have lost far too many brave men and women at war for this to be so.
87
Donald Trump thinks the mere force of his personality will make the rest of the world roll over and accept whatever he throws at them. But the rest of the world easily sees how empty and weak his bullying is and that he knows less than nothing about trade, economics and, well, everything. Our next president, hopefully sooner than later, will have much fence-mending to do.
7
This article only confirms what we already know - that other countries place tariffs on each other all the time. And their favorite target more often than not is the US. Trade is in fact a zero sum game where there are winners and losers. Anyone who tells you otherwise is selling something. China has been winning this game big time and we have been losing this game big time. The US had a $566 billion trade deficit in 2017. That's billions with a B. It's time for that to change. And of course other countries are going to make all kinds of a fuss because they have been taking advantage of us for years. To the tune of $566 billion in just one year! That's a ridiculous trade imbalance which is caused by a few for the monetary gain of a few at the expense of the many. A trade war is long overdue and we will win.
17
There are winners and losers in trade wars as well. The 1930s tell us that story.
Trump is pulling this stunt because he cannot change NAFTA as he promised. Meanwhile American farmers are losing market share. The Big Clown Negotiator has nothing to show for all his bluster.
3
Mike, if trade really is, as you claim, a zero sum game, then why trade at all? One logical endpoint of your view is Juche:
https://en.wikipedia.org/wiki/Juche#Economics
It didn't work out well for North Korea.
The other logical endpoint of your view is enforcing mercantilist trade at the point of a gun (or gunboat), which led to WWI, the collapse of four empires, and the suicide of Europe. When trade wars get bad enough, nations drop the first word. It's more than a "fuss".
Is that really what you want? If your answer is Yes, please note that "We've got the ships, we've got the men, and got the money too!" has been said before. And it ultimately led to disaster.
http://www.victorianweb.org/mt/musichall/macdermott1.html
4
Trade is not a zero sum game if you look at it from a national perspective. If you look at the real GDP and the overall incomes, then the countries engaged in trade are far better off than the countries engaged in protectionism.
Your argument about winners and losers also assumes that there are no winners and losers under protectionism.
2
“The U.S. is ready delivering the region to China...”
Donald Trump may be the president in title but as far as influence and respect may be considered, he has already carved out for himself a narrow cleft from which America may find it difficult from which to extract itself. He is pursuing a “protectionism” in trade that mirrors his backward-looking vision of an American nativism that is alienating and self-defeating.
He had no more serious motive in scrapping the Trans-Pacific Partnership than to defeat a signature international trade agreement authored by his predecessor. He convinced his base—both those on Capitol Hill and those in rural America—that the resultant prosperity would be part of his idea of securing American pre-eminence in international affairs. But how he would achieve this difficult feat without willing, cooperative partners escapes rational thought. If the president thought he could bully allies and partners, well, he’s about to be proven incorrect—on a global scale—that maybe, just maybe—or friends aren’t so easily manipulated.
Republicans, those who fought fiercely for a Trump presidency, are beginning to discover what many of the rest of us already know—they sacrificed their good names and reputations for him—and now see that whatever business acumen he had was chimerical. These “sadder but wiser” lords of commerce and industry perhaps see that capitalism, when driven by someone without the smallest understanding of it, is doomed to failure.
17
This piece reinforces how weak and obstructionist Trump has become in the international arena. And when Trump is weak, America suffers.
It is true that Trump won't last forever, but as we watch ourselves fall from the top, the question we should all ask is what the world order will look like when we are finally free of Trump's delusional thinking, and how receptive that world order will be to our attempts to regain our prior role.
460
Yes, yes, agreed. But the question is "what are people like you going to do to make America great again after the demagogue is gone?" Seriously, what are you, Steve of Massachusetts, going to do, along with millions of others, to right this ship after Captain Trump has half-way sunk it. Trump is wreaking damage every day and his millions of supporters do not understand that. What are you going to do to lead them out of the darkness?
Our “fall from the top” is revealing, I fear, the sub-structure of our way of life: guns, expensive health care, and crumbling infrastructure. These deficits have been building for decades before Trump, and won’t simply go away when he’s gone.
We shall continue to be laid bare in future decades, as well, if we simply give a sigh of relief and return to our old ways of just assuming we’re “the top.”
1
Yes, and when are centrist Democrats going to realize that Trump ran on Bernie's platform and won the election?
Most people want left economic policies. If the Democrats only had the ovaries to fight for them they would win 2/3 of elections instead of losing 2/3 of elections.
It’s good to see someone in the world begin to take action against trumps myopic vision of himself and the world in which he is as much a threat as any other dictator. He wants to dum down this country to the level below that of republicans. Perhaps if democrats cannot get their act together which seems likely, maybe we moderates can find solace in and perhaps something more in these countries. America, we hardly knew ya.
7
The Russian sock puppet personifies modern America in many ways: wealthy, pampered, privileged, with a history of racism, discrimination, injustices and crimes for which he has never had to pay; an extreme bully who sees himself as a victim, continually whining, "it's very unfair!"
There's a poetic justice that's hard to avoid seeing in the fact that he is orchestrating the rapid decline of America's international and economic power.
28
Nothing is permanent; even the daily nightmare known as “President” Trump . When the Trump presidency ends, the US can join TPP and enjoy its benefits.
6
Imagine that you are playing a game of poker--and you're holding what looks like a winning hand. You have a strategy, and a game-plan and your fellow players seem to be on their heels--ready to fold. Then...a group of folks (who are not your friends) take up a position behind you--and immediately begin second guess your hand--and telegraph the cards you are holding.
This is what it's like to be for Donald Trump to try to negotiate an agreement, in the presence of Democrats--and the Mainstream Media. It's difficult to negotiate positive things on behalf of your country--when so many of your countrymen are rooting for you to lose.
If Trump is such a delicate doily that he can't do his job while withstanding criticism he shouldn't have run for office.
10
Usually literacy is required, though it might seem troublesome for some, to run a country. Our president brags he doesn’t like to read which may explain everything.
9
Please explain how asking for economic sanity is rooting for Trump to lose.
5
If this trade deal is a chalenge to Trump, it is only because he made it so. He keeps repeating that all trade deals signed by all previous administrations have been disasters, and the HE would fix everything. Well, those deals, some dating back to the sixties were all but disasters and, so far, he hasn't fixed anything, so, in that sense, it is a chalenge for him.
Meanwhile, the world is moving on and the USA can climb back aboard anytime it wants. Actually, we all still love you in spite of the current administration.
7
"Make America Great Again" is something that future Presidents will have to face.
Trump, single-handedly destroying our country and democracy.
8
Isloationalism has never been the effective strategy for politics or economics. Why go to Making America great Again. Keeping America away from the table and outside of the discussions is foolish. The world's demand is outside our borders. Why to stifle growth! Mr. Trump should stop pandering to his base and start leading this country.
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Looks like the "wall" will be around our entire country.
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Agreed, and you're going to be stuck with the bill.
It is extremely sad to see a country like yours fall pray to a snake oil salesman.
The deeper question is can you recover from your self inflicted wounds?
3
An then let's require ICE training for all police personnel and arrest everyone on the street without a valid ID with them. Bingo, we've got a prison!
There was a time when America stood up for itself, but now it seems we are powerless. When Trump tried to renegotiate NAFTA, the NYT and its ilk screamed that we cannot dare improve the treaty. When Trump demanded that our NATO allies live up to the treaty and begin paying their fair share, the NYT and its ilk brayed that we cannot do that because oit might end NATO. When Trump acted to save our healthcare system by reforming the ACA, the NYT and its ilk claimed (and claims) that reform is impossible. When Trump proposed his tax cuts, the NYT said that cuts were impossible. Now Trump is threatening tariffs in an attempt to correct our trade imbalances and protect American workers, the NYT and its ilk are screaming that the sky is falling.
What is the USA? Is it a powerless punching bag that must always "lose" to other nations? Do we lack the capacity to act in our own interests? Are we the only nation in the entire world that cannot act in its own interest? When did our people become a passive herd of sheep who exist only to be fleeced?
Obama said that "America should call the shots." Trump shoots America in the foot. And our allies are shooting back at us.
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Our allies certainly have the right to do this. It's the Republicans in Congress who are letting Trump make such a mess of everything that bear great responsibility for what comes next.
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Let's make no mistake about it.
This is the direct consequence of the stranglehold of the NrA on the Republican Party and its alliance with the fossil fuel industry's base in Applachia and Evangelical (so-caled) Christians.
So America has chosen guns and mass murders, pollution and cancer, and scripture and injustice over peace and prosperity.
How dumb and reckless can we be?
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How dumb and restless? You ain't seen nothing yet.
4
It's not just dumb and reckless, it's more about our citizens abdicating their right to vote and not participating. In short, the people have turned their backs on their civil responsibilities. That's how Democracies die.
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Glen, I'm not sure we really want to hear the answer to that question.
As one of your best friends, Canadians are now wondering if we should build a wall and send you the bill before this lunacy spreads north.
We're also deeply saddened by what you're going through, however as someone smarter than me said; "Elections have consequences".
8
Good.
But, hey (Trump thinking)..."maybe we have a trade deficit with some of those countries. That's definitely bad. We should have a surplus vis-a-vis all countries, otherwise we are losers. It's simple, folks."
Trump is a genius and don't forget that he has a B.A. from Wharton.
4
Trump has now suggested Canada and Mexico would be exempt from the tariffs. So, say, Australia shipped steel via Mexico into the U.S, easily bypassing Trump's idiotic tariffs.
Meanwhile, America will be hit by tariffs on everything it tries to import because, surprise surprise, That's what happens when you tear up existing free trade deals.
With these tariffs, Trump has effectively neutered America.
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If Canada and Mexico aren’t national security risks (grounds of tariffs) then the US is going to have to prove why the rest of the world is...Europe, Australia etc. Everybody knows he is offering to exempt Mex/Can only if they sign his bad NAFTA deal (US wins all/ Can/Mex nothing.)
2
Trump didn't tear up anything yet except solar panels and air conditioners. Trump is s global billionaire, that wants the same things as other global billionaires. He is putting on a show for his base.
Stop getting in a tizzy every time Trump tweets. Focus on the big picture.
James, thanks for pointing out the obvious. Meanwhile Trump's reasons for the tariffs hopefully will come to light. I'm guessing he owed Carl Icahn.
2
We've all heard how the rural vote went overwhelmingly for Trump in 2016. This includes farmers -- who will perhaps be the biggest losers in the idiotic withdrawal from the TPP. There will be more promises Trump made to his base that will be kept in similar fashion.
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They'll believe Trump when he tells them it's Obama's fault, or maybe Hillary's.
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This is the big opportunity to shut down the barbaric polluted meat industry. It's morally wrong to support a sadistic institution which has brought torturous pain and suffering to billion of innocent animals. In addition, this barbaric industry relies on antibiotics which lead to serious health concern. So, I am for the 38.5% tariff on beef. It's time to switch to a cruelty free/environment friendly industry. Not everything has to be about money and greed. If this what's going to help our environment, animals and people's health so let it be.
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LisaXY--
While I agree with you about the corporate livestock operations, the average US consumer doesn't care about farmers or the economics of farming. They just want their cheap beef/pork/chicken, and that 38.5% tariff in Japan helps keep the price down here in the States by reducing exports.
India has been an avowed and unqualified supporter of the US under Trump. Mr. Modi might find his chicken coming home to roost.
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Trump is about get a lesson in how the real world works, these stupid ill informed moves are just a smokescreen and are going to cost the average American!!!
6
Trump is surely ceding America's greatness to Russia and to China. What part of "Make America Great Again" did he miss? The slogan as now become a laughing gag, and we are all the butt of the joke.
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"When President Obama advocated for the deal, he said, “America should call the shots” instead of China......Now, the agreement could in some respects act as a defense against the shots America is calling."
Wow, this is big. What did Donald Trump think the rest of the world would do?
Ceding a major role to China, which Trump has consistently railed against despite the "wonderful time" President (now) for life Xi gave him, was not a campaign promise.
I fail to see how MAGA fits in with standing alone in an integrated global economy.
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Soooo much #winning. Or is it #fallingbehind?
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"What did Donald Trump think the rest of the world would do?"
Is this dolt actually capable of sitting down and thinking logically about anything?
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