Withdrawing from TPP will Make America Poor Again

Nice article on the economic consequences of protectionism, concerning Trump’s recent executive order against TPP.  Another analysis of trade restrictions can be found here from the Foundation for Economic Education.  And no, free trade (NAFTA, TPP or otherwise) isn’t destroying the manufacturing sector, as has been pointed out time and time again.

Particularly hard hit will be low income households – you know those poor white working-class schlubs that this election was all about – who purchase foreign shoes and apparel at WalMart given that the agreement would have phased out U.S. tariffs most steeply on such items. But it will also affect manufacturers looking for cheap raw material, subverting Trump’s core goal of rebuilding American manufacturing, while also limiting their ability to sell abroad given that the deal would have immediately eliminated all tariffs on US non-agricultural goods, and almost all agricultural goods.

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