Trade

TPP’s Lack of Currency Rules Is Fatal Flaw for U.S. Workers

A new report released today from the Economic Policy Institute offers further data that the Trans-Pacific Partnership is fatally flawed.

"EPI’s new report quantifies what a mistake it was to leave currency rules out of the Trans-Pacific Partnership. The trade deficit with TPP countries—attributable in large part to misaligned currency—cost America’s working families 2 million jobs in 2015, more than half in manufacturing," said AFL-CIO President Richard Trumka. "Omitting currency rules from the TPP benefits Wall Street, making the TPP a tool for off-shoring jobs, not for job creation. If Congress is waiting for more evidence that TPP is a bad deal, this is it."

The 10 states hardest hit by trade deficits that the TPP won’t remedy are:

  • Michigan (214,600 jobs lost, equal to 5.12%)
  • Indiana (103,800 jobs, 3.54%)
  • Kentucky (53,700 jobs, 2.92%)
  • Alabama (46,000 jobs, 2.32%)
  • Tennessee (61,000 jobs, 2.19%)
  • Ohio (112,500 jobs, 2.16%)
  • Mississippi (22,000 jobs, 1.86%)
  • Oklahoma (35,300 jobs, 2.10%)
  • Wyoming (6,800 jobs, 2.34%)
  • Alaska (6,300 jobs, 1.83%)

Read more here.

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