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New Pacific Trade Deal With Japan Is Game Changer
INVESTOR'S BUSINESS DAILY ^ | Apr.31, 2013 | STEVE FORBES

Posted on 04/30/2013 6:18:19 PM PDT by expat_panama

For anybody disheartened about years of disappointing economic news, Japan's recent announcement that it intends to join the Trans-Pacific Partnership (TPP) offers a real reason to celebrate.

Free trade agreements (FTAs) historically are some of the most surefire ways to open up new markets to U.S. exporters while enhancing American interests abroad. They create economic growth by fostering innovation and efficiency and, as a bonus, they generally produce invaluable political benefits.

As FTAs go, Japan's participation in TPP makes this trade pact the Super Bowl and the World Cup of trade agreements wrapped into one. It's a game changer.

It will give American exporters increased access to Japan, a $5.4 trillion economy — the third largest in the world — and one with which the U.S. now has no FTA in place. TPP will eliminate tariff and nontariff barriers inside Japan, letting more U.S. industries export goods and services to Japan...

(SNIP)

TPP is moving forward — with or without Japan. But without Japan's participation, any benefits to the U.S. economy will be marginal, at best. Does anyone believe the status quo is preferable to an economy in which U.S. exporters are suddenly granted new market access to one of the largest economies in the world?

President Obama took a decidedly protectionist position when he campaigned against Sen. John McCain in 2008.  

By bringing Japan into TPP and sealing this critical economic and strategic partnership, he has a valuable, once-in-a-lifetime opportunity to bring tangible benefits for U.S. industries while cementing his legacy as a free trader. It's an opportunity that should not go to waste.

(Excerpt) Read more at news.investors.com ...


TOPICS: Business/Economy; Editorial; Foreign Affairs; News/Current Events
KEYWORDS: business; economy; japan; protectionism; trade
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1 posted on 04/30/2013 6:18:19 PM PDT by expat_panama
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To: BfloGuy; central_va; AEMILIUS PAULUS; Elsie; cynwoody; 1rudeboy; Toddsterpatriot; Mase; ...

fwiw


2 posted on 04/30/2013 6:23:13 PM PDT by expat_panama
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To: expat_panama

Big fleas have little fleas
Upon their back to bite ‘em.
Little fleas have lesser fleas
And so ad infinitem.

anon from the time of Leeuwenhoek


3 posted on 04/30/2013 6:24:58 PM PDT by gorush (History repeats itself because human nature is static)
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To: expat_panama
Free trade agreements (FTAs) historically are some of the most surefire ways to open up new markets to U.S. exporters while enhancing American interests abroad.

I like Steve Forbes, however this statement is pure BS.

4 posted on 04/30/2013 6:31:44 PM PDT by central_va (I won't be reconstructed and I do not give a damn.)
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To: central_va

Of course. What does Steve Forbes know about business?


5 posted on 04/30/2013 6:37:54 PM PDT by 1rudeboy
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To: expat_panama

Great....more Free Trade...just what we need /sarc

With the EU collapsing....Communist China now off-shoring the off-shoring the US did....and massive Trade Deficits...the US needs more Free Trade now like it needs more Islamic Terrorists collecting Food Stamps

Outside of useless economists at Liberal univesities..few are pushing Free Trade as something “positive”. free Trade does not work....and there is no evidence it does. Period


6 posted on 04/30/2013 6:47:11 PM PDT by SeminoleCounty (GOP - Greenlighting Obama's Programs)
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To: SeminoleCounty

Never thought of Ronald Reagan as a useless economist at a Liberal University . . . but there ya’ go again.


7 posted on 04/30/2013 7:09:07 PM PDT by 1rudeboy
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To: expat_panama

Probably they would need to actually put “free” into the free trade agreement for it to really work otherwise it’s pretty much the SOS.


8 posted on 04/30/2013 7:19:23 PM PDT by RetiredTexasVet (The Team: Progressives, Margret Sanger, Josef Mengele and the Butcher of Philadelphia)
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To: SeminoleCounty

Mainland China is offshoring?

I don’t think so.


9 posted on 04/30/2013 7:20:58 PM PDT by Cringing Negativism Network
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To: Cringing Negativism Network

Uh, yeah . . . to Viet Nam. Don’t follow this stuff very much, do you?


10 posted on 04/30/2013 7:33:37 PM PDT by 1rudeboy
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To: SeminoleCounty; 1rudeboy; expat_panama
free Trade does not work....and there is no evidence it does. Period

Let me submit exhibit one: The United States of America. Long the largest free trade zone in the world. We're also the wealthiest in the world.

11 posted on 04/30/2013 7:49:02 PM PDT by 1010RD (First, Do No Harm)
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To: 1010RD

Don’t mind the drive-bys . . . they’re fun to engage once, but then . . . .


12 posted on 04/30/2013 7:50:57 PM PDT by 1rudeboy
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To: 1010RD

You are making a mistake.

You presume that because we have been the most wealthy, we will be the most wealthy.

I see nothing we are currently doing, to support that.

We are exporting everything of value, and buying imported crap. More all the time.

Meanwhile we have racked up a 17 trillion deficit. Approximately.

We are selling our own nation.


13 posted on 04/30/2013 7:53:18 PM PDT by Cringing Negativism Network
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To: Cringing Negativism Network

I haven’t “racked up” a deficit. I keep a tight budget. And I drink Heineken to my heart’s content, which appears to bother you.


14 posted on 04/30/2013 7:56:24 PM PDT by 1rudeboy
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To: Cringing Negativism Network

Perhaps you’ve read this paper already?:http://www.bea.gov/scb/pdf/2008/03%20March/0308_locations.pdf

Here are some more recent follow ups:

Is the US still the worlds leading economy?

http://www.census.gov/newsroom/cspan/myths/20130329_cspan_myths_slides_8.pdf

Have US companies off-shored their production to low wage countries?

http://www.census.gov/newsroom/cspan/myths/20130329_cspan_myths_slides_9.pdf

What are the facts about US companies moving off shore?

http://www.census.gov/newsroom/cspan/myths/20130329_cspan_myths_slides_10.pdf

Where is US Manufacturing?

http://www.census.gov/newsroom/cspan/myths/20130329_cspan_myths_slides_13.pdf

You’ll note that in the world’s greatest free trade zone state-level economic policies like regulation and taxation has caused manufacturing to move from high tax and regulation states to low tax and regulation states.

Isn’t free trade and American federalism grand?


15 posted on 04/30/2013 8:15:51 PM PDT by 1010RD (First, Do No Harm)
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To: 1rudeboy
And I drink Heineken to my heart’s content, which appears to bother you.

Well, there *is* that Bolshevik red star on the bottle...

16 posted on 04/30/2013 8:19:33 PM PDT by Spirochete (Sic transit gloria mundi)
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To: 1010RD

In response I say just two things.

China, not America, is now the world’s biggest exporter.

And: America is now nearly 17 trillion in debt.


17 posted on 04/30/2013 8:22:14 PM PDT by Cringing Negativism Network
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To: Spirochete
That red star always bothered me, and I do prefer Beck's. But no bar around me serves it on tap, and if these moron protectionists have their way, I'd have to drink Bud. To be patriotic, or something . . . while not doing a damn thing about the budget deficit.

So there ya' have it, people. Drink Bud instead of Heineken, and let the fact that our government spends too much money fall by the wayside. It's the patriotic thing to do.

18 posted on 04/30/2013 8:30:48 PM PDT by 1rudeboy
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To: SeminoleCounty
Great....more Free Trade...just what we need /sarc

With the EU collapsing....Communist China now off-shoring the off-shoring the US did....and massive Trade Deficits...the US needs more Free Trade now like it needs more Islamic Terrorists collecting Food Stamps

Outside of useless economists at Liberal univesities..few are pushing Free Trade as something “positive”. free Trade does not work....and there is no evidence it does. Period

I think there's an assumption here that countries with freer trade are poorer for it. The following Heritage Foundation chart ranks countries with the freest trade policies at the top and the ones with the most restrictive ones at the bottom. If you examine the list you'll see that most of the countries with the freest trade policies are also the ones with the highest per capita GDP. The converse is also true, meaning many of the countries with the most restrictive trade policies are also among the poorest in the world:


19 posted on 04/30/2013 8:40:59 PM PDT by Zhang Fei (Let us pray that peace be now restored to the world and that God will preserve it always.)
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To: SeminoleCounty
free Trade does not work....and there is no evidence it does. Period

You're right.

We need the government to manage trade.

Of course to do that we'll need the government to set prices. And for that to work we'll need the government to set quotas.

And for all of those to work we'll need to abandon freedom to trade, true and mutual cooperation, which is the fulcrum of property rights on which mankind is lifted from the barbarism of nature into civilization.

Perhaps our government will package these diktats in convenient 5 year plans.

We can call them the New Economic Plan. I sure it will usher in an age of wealth and wonder...

Why is it on Free Republic people decry actual freedom and want government dictating who can trade with whom and on what terms. As though the beknighted hand of the bureaucracy had someone fostered all the wealth these posters utilize to share their views...

20 posted on 04/30/2013 8:41:52 PM PDT by Gunslingr3
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To: 1rudeboy

Don’t you have any micro-breweries there?


21 posted on 04/30/2013 8:52:36 PM PDT by ROCKLOBSTER (HEY RATS! Control your murdering freaks.)
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To: 1rudeboy
But no bar around me serves it on tap, and if these moron protectionists have their way, I'd have to drink Bud.

Anheuser-Busch was bought by InBev (Belgians). Does that make it an import now? :)

Should I buy the Nissan made in Mississippi, or the Chevy made in Mexico?

It's hard to be Patriot Consumer...

22 posted on 04/30/2013 8:52:49 PM PDT by Gunslingr3
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To: 1010RD

free Trade does not work....and there is no evidence it does. Period

Let me submit exhibit one: The United States of America. Long the largest free trade zone in the world. We’re also the wealthiest in the world.


Again. No proof Free Trade works. Prove it with facts...


23 posted on 04/30/2013 8:53:29 PM PDT by SeminoleCounty (GOP - Greenlighting Obama's Programs)
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To: ROCKLOBSTER

Plenty. But I’m a lager-drinker . . . so people can take their over-hopped ales and shove them.


24 posted on 04/30/2013 8:54:08 PM PDT by 1rudeboy
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To: SeminoleCounty
Again. No proof Free Trade works. Prove it with facts...

Ok. North Korea. "Free trade" haven, or not?

25 posted on 04/30/2013 8:55:43 PM PDT by 1rudeboy
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To: Zhang Fei

Still does not prove Free Trade works

Actually, #6 on that list...Norway....has arguably the highest tariffs in the world. And, not a member of the EU

The other nations ranked high also manufacture very little. Their economic strength is based on having favorable banking rules. OK, Liechtenstien does produce a lot of False Teeth


26 posted on 04/30/2013 8:57:15 PM PDT by SeminoleCounty (GOP - Greenlighting Obama's Programs)
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To: Gunslingr3

Government already runs Free Trade. Look at all the laws we have to pass to enforce “Free” trade

Who do you think runs the EU? The Trade Fairy?


27 posted on 04/30/2013 8:58:57 PM PDT by SeminoleCounty (GOP - Greenlighting Obama's Programs)
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To: SeminoleCounty
Actually, #6 on that list...Norway....has arguably the highest tariffs in the world.

Did you just pull that out of your ass?

28 posted on 04/30/2013 9:00:33 PM PDT by 1rudeboy
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To: 1rudeboy
people can take their over-hopped ales and shove them.

Oh, a beer hater. I hear Coors has practically no flavor...especially when chilled to almost freezing.

29 posted on 04/30/2013 9:00:47 PM PDT by ROCKLOBSTER (HEY RATS! Control your murdering freaks.)
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To: 1rudeboy

Ok. North Korea. “Free trade” haven, or not?


Actually....US Free Trade with Communist China keeps their government afloat, by proxy. And, NoKo has trade agreements w So Korea...even joint factories...until a few weeks ago

Commies love Free Trade


30 posted on 04/30/2013 9:01:44 PM PDT by SeminoleCounty (GOP - Greenlighting Obama's Programs)
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To: SeminoleCounty
Norway: The trade-weighted average tariff rate is one of the world’s lowest at 0.4 percent. Although there are some trade-distorting agricultural subsidies, non-tariff barriers are largely nominal and not burdensome.

The Heritage Foundation


31 posted on 04/30/2013 9:03:01 PM PDT by 1rudeboy
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To: ROCKLOBSTER

When my friends see me drinking Coors or Coors Light, they know I’m trying to sober up.


32 posted on 04/30/2013 9:03:59 PM PDT by 1rudeboy
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To: 1rudeboy

Actually, #6 on that list...Norway....has arguably the highest tariffs in the world.

Did you just pull that out of your ass?


No. Its fact

Obviously you posses neither the facts nor the intelligence to discuss the issue of Free Trade.

But, hey, expected from people who support the same economics like Al Gore, George Soros, Karl Marx, Bill and Hillary Clinton, John Kerry, and all the Liberals in both parties and major universities who keep pushing failed Free Trade

Lemme guess....you have a Cypriot bank account?


33 posted on 04/30/2013 9:05:46 PM PDT by SeminoleCounty (GOP - Greenlighting Obama's Programs)
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To: SeminoleCounty
Commies love Free Trade

You meant to add, "arguably." That's the signal for "I don't know what the hell I'm talking about."

34 posted on 04/30/2013 9:06:08 PM PDT by 1rudeboy
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To: SeminoleCounty

I posted my source, Heritage . . . put up or shut up.


35 posted on 04/30/2013 9:07:10 PM PDT by 1rudeboy
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To: Gunslingr3

There is no freedom in having trillions of dollars of deficits with COMMUNIST China


36 posted on 04/30/2013 9:11:22 PM PDT by SeminoleCounty (GOP - Greenlighting Obama's Programs)
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To: 1rudeboy

Norway: The trade-weighted average tariff rate is one of the world’s lowest at 0.4 percent. Although there are some trade-distorting agricultural subsidies, non-tariff barriers are largely nominal and not burdensome.

The Heritage Foundation


Wrong.

They have some of the highest tariffs in the western world.


37 posted on 04/30/2013 9:12:46 PM PDT by SeminoleCounty (GOP - Greenlighting Obama's Programs)
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To: SeminoleCounty

I’ll just take your word for it, then. Who are those folks over at Heritage, anyway? /s


38 posted on 04/30/2013 9:13:58 PM PDT by 1rudeboy
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To: SeminoleCounty
Norway's tariffs are on agricultural products. It's a farmer's boondoggle, not industrial policy. The average % applied to non-agricultural goods was 0.5%. Tariff data on Norway:

TRADE POLICY                          
WTO accession 1 January 1995          
Trade Policy Review 9, 11 October 2012          
GPA accession  1 January 1996              
Tariffs and duty free imports                    
Tariff binding coverage (%)      100        
MFN tariffs     Final bound Applied 2011          
Simple average of import duties              
All goods       20.3   7.8            
Agricultural goods (AOA)   132.7   55.8            
Non-agricultural goods   3.2   0.5            
Non ad-valorem duties (% total tariff lines)   10.6   6.8        
MFN duty free imports (%, 2010)              
in agricultural goods (AOA)   43.3          
in non-agricultural goods   96.4          
Services sectors with GATS commitments   111            

39 posted on 04/30/2013 9:16:14 PM PDT by Zhang Fei (Let us pray that peace be now restored to the world and that God will preserve it always.)
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To: SeminoleCounty
Commies love Free Trade

Yes! Those that want to control everything, don't want to control trade. LOL!

40 posted on 04/30/2013 9:17:12 PM PDT by Toddsterpatriot (Math is hard. Harder if you're stupid.)
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To: SeminoleCounty
There is no freedom in having trillions of dollars of deficits with COMMUNIST China

Free trade would lead to a balancing of trade deficits. What you oppose is a government running trillions of dollars in deficits (China using the proceeds of their trade with us to then buy that government debt (they own approx $1 trillion).

There is no need to conflate them, as only one of them (our government's profligacy) is actually a problem.

41 posted on 04/30/2013 9:19:59 PM PDT by Gunslingr3
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To: expat_panama

Upon reading the USTR’s circulars and papers on the TPP, it’s more of the same BS that we’ve seen from the US on the issue of trade:

We drop our tariffs and standards and receive a paucity of concessions in return.

In this case, we’re going to phase out our tariffs on imports of Japanese vehicles, and in return, the Japanese will allow up to 5,000 of each US vehicle “type” to enter their country.

Yea, that sounds like “free trade.”


42 posted on 04/30/2013 9:22:38 PM PDT by NVDave
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To: NVDave
In this case, we’re going to phase out our tariffs on imports of Japanese vehicles, and in return, the Japanese will allow up to 5,000 of each US vehicle “type” to enter their country.

Do you remember where you saw this? Even if it were true, I'd be skeptical that this will affect Japan automaker plans much vis-a-vis US production. Whatever the rules in place, they can always be changed. Reagan pushed through voluntary export restraints, and he was the most free-market president we've had since Silent Cal. Besides, costs in Japan are prohibitive. Labor is about the same, but land, utilities and sundry items are prohibitively expensive. Shipping costs are a factor, since cars take up a lot of space and are pretty heavy.

43 posted on 04/30/2013 9:32:44 PM PDT by Zhang Fei (Let us pray that peace be now restored to the world and that God will preserve it always.)
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To: Zhang Fei

Here:

http://www.ustr.gov/about-us/press-office/fact-sheets/2013/april/US-consultations-Japan

As with so many things done by the US Government, the frosting on top sounds really nice.

It’s only when you drill down into it you find you’re eating whipped cream spread over a turd.


44 posted on 04/30/2013 9:49:42 PM PDT by NVDave
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To: Cringing Negativism Network

China is now offshoring to, among others, Brazil now.


45 posted on 05/01/2013 1:15:01 AM PDT by Spktyr (Overwhelmingly superior firepower and the willingness to use it is the only proven peace solution.)
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To: Toddsterpatriot

You think surrendering economic authority to NAFTA....and NAFTA Court ....along with surrendering trade and economic authority to the WTO and the WTO courts as “smaller government”?

I bet Harvard Business School taught you that one

None of the Alinsky-ite Free Traders still have yet to provide any evidence that Free Trade works. Come on...even noted Free Trade and NAFTA supporter Al Gore has had to said something proving Free Trade works...you know....like he has with Global Warming...


46 posted on 05/01/2013 2:36:21 AM PDT by SeminoleCounty (GOP - Greenlighting Obama's Programs)
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To: 1rudeboy; fieldmarshaldj; AuH2ORepublican; BillyBoy

I’m so sick of the term “game changer”.

Anyway, it never ceases to amaze me how many freepers are protectionist. More paleocon nonsense like the 17th amendment repeal.

Don’t they know that

A)Tariffs are taxes and the cost is passed on to the consumer
B)They’re on the same side as big labor on this issue


47 posted on 05/01/2013 3:21:01 AM PDT by Impy (All in favor of Harry Reid meeting Mr. Mayhem?)
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To: Cringing Negativism Network

Neither of which are a free trade problem.


48 posted on 05/01/2013 3:59:53 AM PDT by 1010RD (First, Do No Harm)
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To: SeminoleCounty

1. Where do you shop?

2. Are you a retired Cook County Democrat?


49 posted on 05/01/2013 4:02:06 AM PDT by 1010RD (First, Do No Harm)
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To: central_va

He understands.....you of course do not and never will


50 posted on 05/01/2013 4:09:52 AM PDT by bert ((K.E. N.P. N.C. +12 .....History is a process, not an event)
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