Dictation transcription – Demanding trade enforcement legislation at the same time that we consider fast-track authority for the largest trade deal ever isn’t obstructionism — it’s common sense. TPP will affect more than 40% of the world’s gross domestic product. It will eliminate tariffs on imports coming from Vietnam and elsewhere in Asia, and ask American workers to compete with workers making anywhere from 29 cents to $1.29 an hour.
TPP could undercut U.S. automakers by allowing a tidal wave of Japanese car imports. Though TPP could reduce trade barriers, Japan’s automotive import tariff is already at zero percent, but only six out of every 100 cars sold in the Japanese market is imported.
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And TPP could expand the ability of multinational corporations — such as Big Tobacco firms — to circumvent the legal process and challenge laws they don’t like in the name of free trade.
USA TODAY’s Editorial Board may argue that export opportunities through TPP could create American jobs. But the same promises were made during the South Korea free-trade agreeement, and we’ve seen $12 billion in new imports to the U.S. from Korea for only $1 billion worth of new exports for American companies.
By demanding increased trade enforcement in conjunction with fast track for TPP, we can crack down on countries that manipulate their currency to give their exports a price advantage over American-made products. We can give the steel industry and others new tools to fight back when foreign imports undercut their business. And we can put an end to the import of certain products made with forced or child labor.