The Media Exaggeration On TPP, In Fact Little Positive Impact
By Dean Baker for FAIR - It is amazing how the elite media can be dragged along by their noses into accepting that the Trans-Pacific Partnership (TPP) can have a big impact on trade and growth. If I had a dollar for every time the deal was described as “massive,” or that we were told what share of world trade will be covered by the TPP, I would be richer than Bill Gates. We continue to hear superlatives even as the evidence suggests the trade impact will be trivial. For example, the New York Times reported that US tariffs on Japanese cars will be phased out over 30 years. Wow! The most optimistic growth estimates show a cumulative gain by 2027 of less than 0.4 percent, roughly two months of normal GDP growth.