Crista Huff recalls when Hillary Clinton called TPP “the gold standard.” The most focused statement Clinton made about the TPP was as follows: “I’m going to have a special prosecutor. We’re going to enforce the trade deals we have, and we’re going to hold people accountable.” That statement is absurd. First, trade deals are generally enforced by taking grievances to the World Trade Organization and/or the global courts, via the Investor-State Dispute Settlement (ISDS) mechanism. These contentious situations often take years to be resolved. And while the aggrieved parties await resolutions, American industry suffers. For example, the U.S. steel industry’s production fell 27% in 2015, largely due to currency manipulation and illegal dumping on the part of Asian nations, especially China. If Clinton were going to appoint a special prosecutor – and we’re assuming here that such a person would actually have the power to make a dent in trade problems – why didn’t she influence the appointment of such a person at any point during the last 30 years?
Sign up (on the right side) for the instant free Financial Survival Toolkit and free weekly newsletter.