August 23, 2016
Of course the NYT didn’t actually say this, instead it told readers:
“…the White House and congressional Republican leaders mostly agree on the economic benefits of trade.”
Actually, unless the paper has mind readers on staff, its reporters are not in a position to know whether the White House and Republican leaders have the same views on the economic benefits of trade or if they even have views on the economic benefits of trade. It is entirely possible that they are pushing the Trans-Pacific Partnership (TPP) out of a desire to ingratiate themselves with the powerful industries that stand to benefit from the deal. Since the NYT can only know what the White House and Republican leaders say, it would be best if they restrict their reporting to what they know to be true.
The piece also makes a point of noting a study by the footwear industry reporting that the TPP will save the country $4 billion on footwear. It would have been helpful to note that this figure is a projection of savings over the next ten years. The projected savings of $400 million a year comes to 0.0022 percent of GDP or roughly $3 a year per household. According to the study, the TPP will raise the deficit by $1.2 billion as a result of the lower tariffs on imported shoes. The other $2.8 billion in projected savings will come from lower wages and reduced profit in the retail and related industries.
Comments