Article Date: 10/08/2015
In 1994 when NAFTA went into effect, a lot of companies had to migrate south. Alarming numbers flood this article including the following: 700,000 U.S. jobs have been lost due to trade deficits with Mexico, 65,000 United States manufacturing plants have closed since 2001, and only 12 million manufacturing jobs exist in the U.S. currently, down 30 percent from 1990. That said, those who follow manufacturing are looking at Trans-Pacific Partnership agreements with a magnifying glass.
There has been a recent surge of manufacturing to the United States, especially in relation to quality. “Since 2010, the nation has added nearly one million manufacturing jobs.” Consequently, critics are worried that TPP might endanger those manufacturing gains. With TPP details not yet public, one thing is clear: currency manipulation was not ruled upon; therefore, countries can manipulate their currency, making their goods less than ours. Hillary Clinton has already publicly opposed the pact. Without a doubt, TPP will affect the pharmaceutical, automotive, and agricultural industries, but will the impact be positive for the United States?
To read more of this article from The Atlantic, please click the following link: http://www.theatlantic.com/business/archive/2015/10/trans-pacific-partnership-tpp-manufacturing/409591/