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

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(Washington, DC, March 3, 2016) – A new report released today from the Economic Policy Institute (EPI) offers further data that the Trans-Pacific Partnership (TPP) 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 percent)
Indiana (103,800 jobs, 3.54 percent)
Kentucky (53,700 jobs, 2.92 percent)
Alabama (46,000 jobs, 2.32 percent)
Tennessee (61,000 jobs, 2.19 percent)
Ohio (112,500 jobs, 2.16 percent)
Mississippi (22,000 jobs, 1.86 percent)
Oklahoma (35,300 jobs, 2.10 percent)
Wyoming (6,800 jobs, 2.34 percent)
Alaska (6,300 jobs, 1.83 percent)

Read more here.

Contact: Carolyn Bobb (202) 637-5018