’US President Barack Obama’s ‘pivot to Asia’ after his 2012 re-election sought to check China’s sustained economic growth and technological progress. Its economic centerpiece was the Trans-Pacific Partnership (TPP). But the US International Trade Commission (ITC) doubted the Washington-based Peterson Institute for International Economics (PIIE) and other exaggerated claims of significant TPP economic benefits in mid-2016, well before US President Donald Trump’s election. The ITC report found projected TPP growth gains to be paltry over the long-term. Its finding was in line with the earlier 2014 findings of the Economic Research Service of the US Department of Agriculture. Meanwhile, many US manufacturing jobs have been lost to corporations automating and relocating abroad.
Trans Pacific Partnership
Donald Trump has instructed United States Trade Representative, Robert Lighthizer, and National Economic Advisor, Larry Kudlow, to review re-joining the Trans-Pacific Partnership (TPP) according to declarations given by Senator Ben Sasse to reporters after leaving a meeting on trade that Trump had with lawmakers and governors from farming states just a few hours ago.