The Economist (February 22, 2014)
“If not championed by leaders who understand its broad benefits,” free trade “will constantly be eroded by narrow economic nationalism. Mr Obama now appears to be surrendering to protectionists within his own party. If he cannot drag Democrats back to their senses, the world will lose its best opportunity in two decades.” Estimates have placed the combined benefit from the Transatlantic Trade and Investment Partnership (TTIP) and the Trans-Pacific Partnership (TPP) at $200 billion for the U.S. alone and $600 billion worldwide.
Tags: Benefits, Democrats, Free trade, Leaders, Nationalism, Obama, Opportunity, Protectionists, Surrender, TPP, TTIP, U.S.
Chicago Tribune (October 8)
“President Barack Obama’s decision to skip a trip to Asia … was understandable given the circumstances, but it also has consequences. This is a crucial moment in America’s negotiations for free trade with Asia, and Obama is 10,000 miles away from the action.”
Tags: Asia, Circumstances, Consequences, Free trade, Negotiations, Obama, U.S.
Wall Street Journal (March 21)
“The TPP will go ahead with or without Japan. For Tokyo, sitting on the sidelines would only serve to isolate the country at a time when it needs to open up. Japan would lose benefits as high as $295 billion by 2025.” Despite Prime Minister Abe’s recent moves, membership is hardly a done deal. “To secure his country’s future, Shinzo Abe will have to overcome entrenched interests at the party, state and international levels.”
Tags: Abe, Entrenched interests, Free trade, Isolation, Japan, Membership, TPP
Wall Street Journal (January 28)
British Prime Minister David Cameron discussed the future of the EU, raising important points on Europe’s waning competitiveness, excessive regulation, free trade agreements and the primacy of the single market. European leaders largely were not listening. “Yet the picture of Europe that Mr. Cameron sketched on Wednesday is an EU worth belonging to, not just for Britain but for every other European state that does not want to sacrifice prosperity and democratic representation on the altar of centralization. Mr. Cameron’s critics should read his speech twice.”
Tags: Competitiveness, David Cameron, EU, Free trade, Regulation, UK
The Economist (December 22)
Freer trade is a no-cost measure that the U.S., Japan and Europe can take to boost otherwise weak forecasts of economic growth. “The gains to be had from sluggish rich countries opening their borders to each other’s goods and services look enticing. The world is less integrated than most people realise.” A TPP deal alone “could raise the region’s GDP by more than 1%” and there are two other major trade pacts (an EU/U.S. transatlantic pact and an EU services agreement) with strong potential. “Now is the time to act.”
Tags: Economic growth, Europe, Free trade, Japan, TDP, TPP, U.S.
Washington Post (October 14)
Passage of the free trade agreement with South Korea took half a decade: a disgrace. Still there is ample cause for celebration. “South Korea is a stable democracy in Northeast Asia and a growing, trillion-dollar market. Under the new deal, 95 percent of industrial and consumer goods will soon move tariff-free between the United States and South Korea, adding $12 billion annually to U.S. exports — and fortifying an alliance that helps maintain peace and security in China’s neighborhood…. So, go ahead: Declare the glass half full and raise it to the long-overdue victory for free trade.”
Tags: Alliance, Democracy, Free trade, South Korea, U.S.
