This trade deal with 12 pacific area countries will cover nearly 40% of the world’s economic activity. Since the 1994 passage of NAFTA, America has lost over 680,000 high wage manufacturing jobs, and a $1.6 billion trade surplus with Mexico has turned in to a $53 billion trade deficit.
We have lost over 2 million additional manufacturing jobs since the passage of the 2000 PNTR China deal, and deepened our trade deficit with them from $83 billion to $342 billion. Since the passage of the 2011 South Korea free trade deal, we have lost 65,000 more jobs, and increased that trade deficit from $16.6 billion to $25 billion.
Since 2001, we have closed down 60,00 factories and lost 4.7 million manufacturing jobs to third world nations because of these trade deals. Good paying middle class jobs with benefits, that used to contribute to our nation’s tax base, pay into social security and medicare, and fund the country’s prosperity.
Not only that, but TPP will include new rules to make it easier for corporations to outsource work to Vietnam, paying as low as 50 cents an hour– in service sector jobs such as call centers, engineering work, accounting and medical diagnostics.
Doctors Without Boarders have joined the fight, because big pharma would be able to extend drug patents out beyond 20 years, devastating poor countries’ access to low cost medicines.
Multi-national and foreign based companies could sue the USA in international trade “tribunal courts” under TPP, if local, state or federal laws (like environmental, wage, safety) threaten “future” company profits.
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