TPP Daily Debunk #1: The Most Progressive Trade Agreement Ever

An article in AFL-CIO America’s Unions (November 10, 2015) titled “TPP Daily Debunk #1: The Most Progressive Trade Agreement Ever” (http://www.aflcio.org/Blog/Political-Action-Legislation/TPP-Daily-Debunk-1-The-Most-Progressive-Trade-Agreement-Ever) questions whether the TPP is a progressive agreement or not. The author explains that the 11 members of the TPP will not benefit by a trade deal that permanently locks in increased corporate power and rights. Some of the trade-offs of the agreement is the fact that it creates extreme monopoly rights for global pharmaceutical companies and provides them more power to drive up costs for Medicare and public health programs in all the TPP countries, resulting in higher drug prices. Also the article challenges this commercial deal and the power that it gives to foreign companies, which will take home the taxpayer dollars to compensate for lost expected profits. How will the TPP impact the international trade for members and non-members of the deal? How will the increase in net exports be balanced with the potential decrease of local investment in the US triggered after the TPP?

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