TPP Economic Gains Will be Minimal, Study Claims
The economic gains generated through the Trans-Pacific Partnership (TPP) will be nominal but will contribute to growing wealth inequality in the U.S., Center for Economic and Policy Research analyst David Rosnick argued in a September-released study. The U.S. may only…
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see cumulative Gross Domestic Product (GDP) gains of 0.13 percent by 2025 should the TPP be implemented, said Rosnick, citing other research. “Most workers are likely to lose—the exceptions being some of the bottom quarter or so whose earnings are determined by the minimum wage; and those with the highest wages who are more protected from international competition,” said Rosnick. “Rather, many top incomes will rise as a result of TPP expansion of the terms and enforcement of copyrights and patents.” U.S. trade officials continue to eye a TPP negotiation conclusion by the end of 2013 (see 13091118).