Elections have consequences, and one of them is being declared by Democrats already – the TPP Trade Deal is dead.
From the Washington Post:
The Senate’s soon-to-be top Democrat told labor leaders Thursday that the Trans-Pacific Partnership, the trade deal at the center of President Obama’s “pivot” to strengthen ties with key Asian allies, will not be ratified by Congress.
That remark from Sen. Charles E. Schumer (D-N.Y.), who is expected to be the incoming Senate minority leader, came as good news to the AFL-CIO Executive Council, which met Thursday in Washington. Schumer relayed statements that Republican congressional leaders had made to him, according to an aide who confirmed the remarks.
Obama’s signature global trade deal had been on life support for months as both Democrats and Republicans campaigned against unfair trade policies ahead of the Nov. 8 election. And Donald Trump’s triumph in the presidential race cemented its fate.
This is rather remarkable, and I’m not sure it’s the smart thing to do, but it is what Trump promised, and his victory is a sign that the Republicans will need to press with the will of the people whose candidate won. Now we have to wonder if Trump really is going to try to “re-negotiate” the other trade deals and start tariff wars with our closest trade partners. And if he doesn’t, how will his supporters react?
The world is about to be set on fire, and we might as well pop our popcorn over the embers…