Tag: TPP

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President Trump often says our trade partners treat us unfairly. Yet one of his first acts as president was to withdraw from a trade pact agreement designed to give favored treatment to its signatories. On Dec. 30, 2018, that pact, the Comprehensive and Progressive Trans-Pacific Partnership (known as TPP), went into effect without the United […]

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(From my morning post on Indieconservative)   More

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Richard Epstein responds to the Trump Administration’s proposals for revising NAFTA, answers some frequent criticisms of free trade, and explains whether a legal challenge to a NAFTA withdrawal would hold up in court. More

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Richard Epstein reacts to the Trump Administration’s exhortations to “buy American” and tackles common misperceptions about international trade, NAFTA, trade deficits, and manufacturing. More

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While I thought the speech last night went well, I’m not sure if others have this “issue”, but I do. If I listen to something, I sometimes encounter an immediate jolt, a zing, if something sounds questionable. It’s unconscious – a red flag that I don’t raise myself. Then the comment becomes a nag – I […]

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Promoted from the Ricochet Member Feed by Editors Created with Sketch. Ricochet and the TPP

 

Ricochet began as a podcast and a subscription-based website, but quickly became a community that extends well beyond. Perhaps it would be more accurate to say it began with the unlikely friendships of its founders — @peterrobinson and @roblong — so the ensuing meet ups and social media interactions of members should not be surprising. Via Facebook, Twitter, or face-to-face, the debates and conversations don’t end here.*

Nor do they always begin here. And sometimes, that’s regrettable because I learned a thing or two that others could certainly appreciate. Case in point, @jamielockett proposed elsewhere that President Donald Trump’s decision to withdraw from the Trans-Pacific Partnership was a mistake. That led to the following exchange including myself, Jamie, and @jamesofengland, reprinted here (somewhat abridged) with their permission. 

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Recommended by Ricochet Members Created with Sketch. Rob Long Is Wrong

 

I am flattered and humbled that my last post was discussed on the last flagship podcast, but I am sorry to say that I think Rob Long is wrong about TPP.

When Rob says that, “somethings are true even if Barack Obama says they are true and TPP is good for this country.” I am going to get into more of the substance of TPP in a few moments, but I’d like to begin by saying that Obama advocating for anything is a red flag. Why should I trust Obama when he says this is free trade or that this is good for America? Why would I trust anyone in government after the last 8 years? Did the Affordable Care Act make healthcare more affordable? Did Dodd-Frank protect consumers or did it just end up hurting small community banks while protecting big banks and big law firms? I should trust Obama on TPP after he said there wasn’t a smidgen of corruption at the IRS? I should trust Obama after he said he found out about Hillary’s server on the news even though the FBI documents showed that he emailed her on that very same server? I’m sorry, but Barack Obama is not to be trusted.

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Contributor Post Created with Sketch. If You Think Trade Deals Have Ruined the American Economy, Reconsider

 

TradeIf you think America’s fundamental economic story over the past few decades is a narrative of decline due to bad trade deals — especially the North American Free Trade Agreement — then you must completely ignore economic consensus.

Some key paragraphs from the new CBO study on trade deals:

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Contributor Post Created with Sketch. The Case for the TPP

 

It’s a measure of the lunacy of this election that neither candidate is robustly defending the TPP, and the task of making the case for it has been offshored, so to speak, to Singaporean Prime Minister Lee Hsien Loong:

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Contributor Post Created with Sketch. Globalism and its Discontents

 

Donald Trump yesterday made one aspect of his platform entirely unambiguous: He is against free trade. The full transcript of his speech is here. He draws a dichotomy between “globalism” and “Americanism,” and in his view, globalism — or free trade — is unAmerican.

This is how he understands recent American economic history:

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Promoted from the Ricochet Member Feed by Editors Created with Sketch. A Question For Free Traders on the Trans-Pacific Partnership

 

Up or down on the TPP? How would you decide?

When Obamacare was being debated I had liberal friends whose argument in favor consisted of “We need to do something,” and “Health care is a right.” One of my responses was that slogans are not legislation and it is only the details of bill that are relevant. In the case of Obamacare, it was a 2,000-page piece of legislation that no one understood, and today even some of my liberal friend rue its passage as they understand what it actually contained.

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While Turkey and the Middle East haunt our headlines, Allen West cautions us to not ignore China. First, West cites a report by Reuters:  More

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Conversation on this topic is difficult. Primarily this is because we don’t know what’s currently in it. An outdated Wikileaks version is available (you can google it if you really want to), and there’s an active bounty on the updated full text. So who knows, we might actually get to read it before it’s law. Some […]

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Contributor Post Created with Sketch. The Game Theory Argument for Fast-Track Trade Authority

 

While public debate rages over the Trans-Pacific Partnership, the real issue before Congress right now is merely whether or not President Obama should be granted fast-track authority, which allows him to negotiate a treaty on behalf of the United States and then present it to the Congress for a straight up-or-down vote with no amendments allowed. As I note in my new piece for Defining Ideas at the Hoover Institution, there’s a very strong game theory rationale for giving the president this ability:

… [F]ast-track is a good solution to a complex two-stage bargaining game. At stage one, the President and his trading partners are well aware of the prospect that the Congress could turn down a trade treaty if it is perceived, no questions asked, to put the United States in a worse position. So Congress will agree to a treaty that is better than the status quo ante for the U.S., but not so one-sided that it will drive our potential trading partners away. Hence, a stage one agreement will leave everyone better off.

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What follows is an example of typical BBC coverage American politics and then an example of their coverage of the recent TPP trade votes in congress. (I should mention that this is an example of the coverage if they were forced to be truthful to their viewers) Date line: Any typical day watching BBC World. […]

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TPP: EVER EXPANDING COMPLEXITIES OF WORLD TRADE AND GOVERNMENT POLICIES  THIS IS IMMENSE! Its over-whelming complexity resembles “rammed through” legislation for CSKT Water Compact and Obama Health Care plan. This Trans-Pacific Partnership, TPP initiative, is not a free-trade deal, but total integration and convergence of the European Union and U.S. Trans-Atlantic Partnership network. While influencing about […]

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Promoted from the Ricochet Member Feed by Editors Created with Sketch. Sovereignty, Technical and Actual

 

cropped-iStock_000017452286XSmallIn this interview (hat tip to Melissa P), Senator Ted Cruz explains why he believes Senator Jeff Sessions is mistaken in the claim that the Trans-Pacific Partnership proposal would undermine America’s sovereignty.

Cruz points out that the international body a trade agreement like this sets up is merely advisory. In a trade dispute, the court would mediate between the two nations to judge whether or not the original agreement has been honored. But it would not be able to enforce its judgement. That lack of force is the difference between a government and … well, that other thing.

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