Tuesday, October 06, 2015
Cue and queue lobbyists for and against this trade pact. The Trans-Pacific Partnership is both detested and celebrated and will be full employment for lobbying and PR firms for months to come. Unions hate the deal because to them it means lost jobs. Businesses support it because it means less expensive and faster ways of engaging in commerce with Asia. Expect to hear a lot from both sides until the crucial vote in Congress supporting or denouncing the deal. And if the trade pact is upheld, the complaints won't go away. Some are still denouncing the North American Free Trade Agreement (NAFTA), which went into effect in 1994. Will it help or harm the US? We won't know for 10 to 15 years after the deal is approved. It will take that long for business investment cycles to be fully implemented. Meanwhile, brush up your foreign languages.