Myth vs. Reality

Myth vs. Reality | Trade Edition | 11-02-16

MYTH: Economic ties between nations revolve around the importation and exportation of goods and services. REALITY: Maintaining good economic relationships with other countries has benefits beyond imports and exports. It also gives foreign businesses confidence to invest in the United States. In 2014, U.S. affiliates of foreign companies employed more than 6.6 million workers in… Read more

Myth vs. Reality | Trade Edition | 10-26-16

MYTH: Since the U.S. already has free trade agreements with seven of the eleven other participants in TPP, the agreement does not provide any additional benefits. REALITY: In addition to improving the FTAs negotiated earlier (see the Myth vs. Reality 9-29-16), TPP establishes improved trading obligations with Vietnam and Malaysia. More importantly, TPP provides important… Read more

Myth vs. Reality | Trade Edition | 10-19-16

MYTH: Failure to ratify the Trans-Pacific Partnership or TPP will affect U.S. leadership in Asia. REALITY: There is a strong case that failure to ratify TPP will leave a void in the Asia-Pacific region that will be filled by others, most notably the Chinese, who are negotiating a less stringent trade agreement with the region called… Read more

Myth vs. Reality | Trade Edition | 10-12-16

MYTH:  A trade agreement like the Trans-Pacific Partnership (TPP) sacrifices U.S. sovereignty. REALITY: That is not the case. The legal requirements established by Congress in the Bipartisan Congressional Trade Priorities Act of 2015 are part of the negotiated agreement. Thus, any provision of TPP that violates U.S. federal or state law will not have an… Read more

Myth vs. Reality | Trade Edition | 10-05-16

MYTH:  Globalization (fueled by free trade agreements) is the root of our economic woes; including the decline in manufacturing, falling employment and growing income inequality. REALITY: Trade has been made the scapegoat for a host of economic problems. Economists are telling us that these negative trends are more strongly influenced by technology and the way it… Read more

Myth vs. Reality | Trade Edition | 9-29-16

MYTH:  NAFTA should be renegotiated. REALITY: The Trans=Pacific Partnership (TPP) in effect does that by addressing NAFTA’s shortcomings. TPP learns from past trade agreements, including NAFTA, by upgrading existing standards and setting new high standards that reflect today’s economic realities. The TPP upgrades NAFTA by: Adopting highest environmental standards of any trade agreement with fully-enforceable requirements…. Read more

Myth vs. Reality | Trade Edition | 8-1-16

MYTH:  The Trans-Pacific Partnership (TPP) is a disaster. REALITY:  TPP benefits U.S. exporters and workers by leveling the playing field for American workers and American businesses in TPP countries: Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam.

Myth vs. Reality | Trade Edition | 7-25-16

MYTH:  The Trans-Pacific Partnership (TPP) is a disaster. REALITY:  TPP benefits U.S. exporters and workers by leveling the playing field for American workers and American businesses in TPP countries: Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam.