Do Corporate Media Need To Lie To Promote Trade Deals?
By Dean Baker for FAIR - I understand people can have reasonable differences of opinion on trade deals like the Trans-Pacific Partnership (TPP), but why is it that the proponents have to insist, with zero evidence, that not doing the deal was an economic disaster? Yes, I know the political argument, which seemed to arise late in the game, that US standing in the world has collapsed because we didn’t follow through on the TPP. But let’s just stick with the economics. Politico (8/7/17) ran a lengthy piece saying that the US pullout from the TPP undermined the hopes for a revival of rural America. It cited as evidence a report from the United States International Trade Commission that projected the deal would have increased agricultural output by 0.5 percent when fully phased in, 15 years from now. Seriously, folks, a 0.5 percent increase in output is going to save rural America? That’s three months of normal growth; who are you trying to fool? The New York Times (8/8/17) joined the act with a news article that started out by pointing to the costs from the Trump administration’s ambiguities on trade policy.