Lipinski: New Report Confirms TPP Trade Deal Would Hurt Middle-Class Americans, Especially Those in the Manufacturing Sector

Congressman Dan Lipinski (IL-3) released the following statement after the U.S. International Trade Commission (ITC) released their report on the economic impact of the Trans-Pacific Partnership (TPP):

“The ITC report shows that even under the best circumstances the TPP will continue the erosion of the American middle class.  If approved, manufacturers and their hard-working employees will be hit the hardest by this trade agreement, with our manufacturing trade deficit increasing by a whopping $24.1 billion per year.  

“Unfortunately, even that bad number may be overly optimistic; my testimony included in this report outlines past issues with the ITC’s analysis of the United States-Korea Free Trade Agreement.  Contrary to the ITC’s rosy predictions before that trade deal was passed, American workers have suffered greatly under it.  My testimony on the TPP also outlined areas that I believe the International Trade Commission should have taken into consideration when completing their economic analysis of the TPP, specifically the lack of attention to rules of origin provisions, currency manipulation, and the potential for depressed wages and job losses.  Unfortunately, they didn’t include those critical concerns.

“Americans can’t afford another trade deal crafted by multinationals for themselves.  I will continue to work to defeat TPP and any other trade agreement that doesn’t benefit America’s middle class, raise wages, and safeguard the consumer and environmental protections that we rely upon.”

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