A Vote for the Trans Pacific Partnership
In an op-ed published in The Greenville News before Tuesday’s election, Furman professors Brent Nelsen (Political Science) and Tom Smythe (Business and Accounting) argued that international trade is good for the U.S. economy and the Upstate. And that is true even if both presidential candidates opposed President Obama’s signature trade agreement, the Trans Pacific Partnership (TPP).
The professors wrote: “The TPP will benefit the Upstate directly; it will also bring broader benefits to the national economy. If TPP passes, tariffs on manufactured goods and agricultural products in other countries will be eliminated. Thus, the cost of U.S. products will decrease for customers in Pacific Rim countries, raising demand for American (including Upstate) goods. More broadly, lower tariffs on foreign goods will likely lead to a drop in consumer prices for all Americans.”