The Trans-Pacific Partnership Agreement

The Trans-Pacific Partnership (TPP) Agreement has been at the center of much political disagreements. Some people claim that the TPP is harmful to the US while others disagree. The United States International Trade Commission (USITC) has prepared a report on the TPP. The report provides information about the TPP’s potential impact on the US’ economy and specific industries.

Overall, the USITC found that the TPP would positively effect the US economy and specific industries. However, this impact would be somewhat small. The USITC estimates that real annual American income would be .23% ($57.3 billion) higher due to the TPP. Real GDP would be higher by .15% ($42.7 billion) and employment would be .07% (128,000 full time jobs) higher. Several US industries will also experience positive gains. For example, the US poultry industry would experience an increase in the price competitiveness of exports. Also, the US dairy industry would experience slightly higher output (by 1.3%) if the TPP were to be adopted.

The USITC’s report can be found here.

 

Image: https://usitc.gov/

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