Everyone Just Loves the TPP These Days

By Matthew McMullan
Full sail ahead on a trade deal that most of America doesn’t want. | Photo by Flickr user Aah-Yeah.

And they’re all especially enthusiastic to its approach on currency manipulation.

Just in case you hadn’t heard, negotiations regarding the Trans-Pacific Partnership (TPP) are taking place in Washington, DC. Lots and lots of people have shown up because they just love it so dang much.

All of those people were totally jazzed, no doubt, to hear President Obama brush off the concerns of TPP’s myriad critics with a simple “those who oppose these deals ironically are accepting a status quo that is more damaging to American workers.”

But if they weren’t jazzed, there are plenty of people in DC who were! Congressional Democrats are getting super-pumped about supporting the TPP:

"'The notion that any of us are wedded to the status quo is false,’ said Rep. Dan Kildee (D-Mich.). 'All of us agreed that in a period of globalization we want trade to be more free and clear. But to me the status quo is continuing to accept a paradigm that allows an agreement to be negotiated without Congress's role being considered.’"


"Rep. Tim Ryan (D-Ohio) said that unless the administration made significant changes to the proposed deal, including new protections on currency manipulation, Democrats would 'fight the administration tooth and nail on this.'"

Hrmmm. How about that: The president’s liberal base is vowing to fight him tooth and nail over a TPP agreement that doesn’t address currency manipulation. Well, um … how about free-trader economists like Art Laffer?

Oh, dang. He doesn’t like it either.

So as Obama administration officials continue to push for a trade deal that America either doesn’t know about or wants, bear this in mind: A lot of recent trade agreements have been bad deals for U.S. workers. And another one that doesn't include a measure to curb currency manipulation isn't going to win a whole lot of support.