Commission Has Bad Track Record of Predicting Trade Benefits
Ted GotschEmail: [email protected] Phone: (202) 624-6911
(WASHINGTON) – The following is a statement from Teamsters General President James P. Hoffa about the U.S. International Trade Commission’s review of the proposed Trans-Pacific Partnership (TPP). The USITC is predicting the TPP will only result in an economic impact of an average annual GDP growth of .01 percent over 15 years.
“The numbers coming out of the U.S. International Trade Commission about the economic benefits that it says would result from the implementation of this 12-nation Pacific Rim trade deal are typical – and typically wrong.
“For years now, the USITC has reported on pending trade agreements and made them look like blockbuster deals for this nation. But everyday Americans know the true story. Millions of jobs have been lost in the past two decades and wages have been cut for many formerly middle-class workers across the country. More than a few are now struggling to make ends meet.
“The Teamsters recently filed comments with the Commission about how the TPP would negatively affect not only our workers, but the American workforce in general. Manufacturing, in particular, will be hardest hit because workers in countries like Vietnam are paid pennies on the dollar compared to those in the U.S.
“This country should not engage in a race to the bottom. But despite the claims of the USITC, that is what will happen if Congress moves ahead and ratifies this very bad trade agreement.”
Founded in 1903, the International Brotherhood of Teamsters represents 1.4 million hardworking men and women throughout the United States, Canada and Puerto Rico. Visit www.teamster.org for more information. Follow us on Twitter @Teamsters and “like” us on Facebook at www.facebook.com/teamsters.