Both the Republican and Democratic presidential candidates said they oppose the Trans-Pacific Partnership, also known as the TPP.
But recent comments from top aides to Hillary Clinton have cast doubt over whether she’ll change her mind on the largest regional trade pact in history.
CCTV America’s Jessica Stone reports.
Democrats divided over Trans-Pacific PartnershipHillary Clinton might go back on her word on TPP, but a lot is at stake as of now. CCTV America's Jessica Stone reports.
Candidate Hillary Clinton may not be able to reverse her opposition to the Trans-Pacific Partnership even if she wanted to.
At the Democratic National Convention, TPP was a lightning rod for delegates representing working class voters, part of the party’s traditional base. They said the agreement favors corporations over workers.
Just days earlier, America’s top Democrat, President Barack Obama, explained why TPP won’t be a repeat of NAFTA, the North American Free Trade Agreement, that many Americans blame for the loss of jobs and stagnant wages.
“A number of the provisions inside of the Trans-Pacific Partnership address some previous criticisms of NAFTA and will make what is already an extraordinarily strong economic relationship between our two countries even stronger,” Obama said.
Hillary Clinton helped negotiate TPP but then changed her mind.
Republican candidate Donald Trump is trying to appeal to disaffected Democrats by vowing to stop the deal.
As of now, a lot is at stake. The 12 Pacific Rim nations that signed TPP boast a combined economic output of around $28 trillion. That’s roughly 40 percent of the entire planet’s output and 26 percent of world trade.
But the focus of working class Americans is more local than global. If they believe TPP threatens their jobs, they are likely to vote for any candidate opposing it.
Labor unions and environmentalists are among the 1,500 domestic groups that have called on the U.S. Congress to reject TPP. And with both major party candidates saying they won’t support it, the partnership could dissolve before it ever takes effect.
Saruhan Hatipoglu discuss TPP, US trade
For more on TPP and U.S. trade, CCTV America’s Rachelle Akuffo spoke to Saruhan Hatipoglu, CEO of BERI and CCTV Global Economics Analyst.
Adam Behsudi on Hillary’s trade policy
To further discuss Hillary Clinton’s trade policy outlook, CCTV America’s Rachelle Akuffo spoke to Adam Behsudi, trade reporter at POLITICO.