CounteringTradeOpponents IssueswithTPP:PointandCounterpoint* * * Opponents Point * * * * * * * Counterpoint**

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Mabel Gibbs
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Cuntering*Trade*Oppnents *Issues*with*TPP:*Pint*and*Cunterpint* Tradeppnents,includingsmemembersfCngress,haveremainedutspkenthrughuttheintensedebateregardingtheTrans:Pacific Partnership,rTPP.

* * Oppnents *Pint* * * * * * * * Cunterpint** Investr*State*Dispute*Settlement*(ISDS) ISDS,rInvestrStateDisputeSettlement,isaprvisin cntainedintradeagreements,includingtpp,whichallws

1 Cuntering*Trade*Oppnents *Issues*with*TPP:*Pint*and*Cunterpint* Tradeppnents,includingsmemembersfCngress,haveremainedutspkenthrughuttheintensedebateregardingtheTrans:Pacific Partnership,rTPP.TaddresstheirmainargumentsagainstTPP,thisarticledecnstructsandcunterseach,whilestressingtheimprtancef acmpleted,cmprehensivetppagreement. * * Oppnents *Pint* * * * * * * * Cunterpint** Investr*State*Dispute*Settlement*(ISDS) ISDS,rInvestrStateDisputeSettlement,isaprvisin cntainedintradeagreements,includingtpp,whichallws bigcrpratinstchallengethelawsandregulatinsf svereigncuntriesinrdertbendtherulesintheirfavr.* WithISDS,largecrpratinscantakesvereign natinstaninternatinaltribunal,thrughwhichthey canreceivelargemnetarysettlementsfrmstates thatarefundtbeinfringingnacrpratin s prfit allattheexpensefthetaxpayer. ISDSprvidesnrmfrcuntriestregulateinthe future,andmanycuntrieshavehadtpullbackn regulatinsfrfearfbeingsuedthrughisds. Ifacuntrywantstadptprtectivelegislatinfrits citizens(frexample,minimumwage),acrpratin cansuefr millinsrevenbillins withtheclaim thattheselawseatinttheirprfits. i Thereisnprcessfrcuntriesrgrupstchallenge cmpaniesabusinglabrers. ii Overthepastfewyears,usefISDShasincreased tremendusly. ISDSisaprceduralmechanismprvidedfrininternatinalagreementsn investment,meanttprtectfreigninvestmentfrmillegalexprpriatinif thereisprffdiscriminatinagainstsaidfreigninvestment.* WithISDS,acrpratincantakesvereignnatinstatransparent internatinaltribunalwhenitbelievesahstcuntryisinvilatinfan agreement,rhaswrngfullyseizedprpertythrughdirectrindirect measures.generally,vilatinsccurwhenacuntrychangesplicyinaway thatcreatesanadverseclimatefrfreigncmpanieswhhavealready madeinvestmentsunderacntract. CrpratinsgenerallywinISDScasesne:thirdfthetimeandare usuallyawardedpenniesnthedllarincmparisnttheriginal claim. v Tw:thirdsfU.S.investrsthathaveusedISDSareindividualsrsmall andmedium:sizedenterprises. vi ISDSisalsusedtprtectfreigninvestmentbyallwingsettlementst takeplaceinamretransparentframewrk. ThetwcuntriesmstfrequentlytargetedbyISDS,Argentinaand Venezuela,arerankedasthe143rdand144thcuntries(utf144)in thewrldecnmicfrum s(wef)indexnefficiencyflegal FramewrkinChallengingRegulatins. vii 1

2 In2012alne,therewere58cases,whileinthe furdecadesfrm1959t2002,therewerenly 100casesfISDSwrldwide. iii CaseslikethatfaFrenchfirmsuingEgyptfr minimumwagehikesreflectaskewedsystemthat favrscrpratins. iv IP*Prtectins*and*Public*Health* Thestrictintellectualprperty(IP)prtectinsinTPPwill makemedicatinmreexpensiveindevelpingcuntries. IntheWEF sindexnefficiencyflegalframewrkinsettlingdisputes, ArgentinaandVenezuelaarerankedasthe130thand144thcuntries (utf144). viii ISDScanntchangeanatin slaws;thenlyutcmeisamnetary settlement. ix TheusefISDShassignificantlyincreasedinthepastfewyears,in cnjunctinwithafive:fldincreaseinfreigndirectinvestment(fdi)glbally since1991. x TPPcuntriesarentthemstfrequentusersfISDS. Intermsfdisputes,investrsfrmEUcuntriesarerespnsiblefrthe vastmajrityfcasessince1987. xi Therewereasmanyas252EUinitiatedcasesbetween2003and2013(r 273ifcasesagainstEUcuntriesareincluded),andtheratifEUtttal caseshasrisenfrm56percentintheperidfrm2003t2011t67 percentinthelasttw:yearperid. xii Thismakessense,astheEUaccuntsfrnearly50percentfglbalFDI stck,andmanydisputestakeplaceinsectrscharacterizedbyhigh levelsfgvernmentinterventin. xiii WithregardttheEgyptiancaseinvlvingaFrenchcmpany,SenatrWarren ftenreferst: VeliafFrance,awastemanagementcmpany,invkedISDSt enfrceacntractwiththegvernmentfalexandria,egypt,thatitsays requiredcmpensatinifcstsincreased;thecmpanymaintainsthat thewageincreasestriggeredthisprvisin. Thecase whichwuldresult,atmst,inamnetaryawardtvelia, nttheverthrwftheminimumwage remainsinlitigatin. xiv * IPrestrictins,cntrarytwhatSenatrWarrenandecnmistssuchas JsephStiglitzbelieve,haveinfactspurredpharmaceuticalresearchand develpment.* 2

3 ThesenewIPlawswillbstructlwer:pricedgeneric medicines. xv Theywillservetlimitrestrictinsndrugpricingt benefitbigpharmathrughincreasedprices. xvi Ofcurse,pharmaceuticalcmpaniesclaimtheyneed tchargehighpricestfundtheirresearchand develpment.thisjustisn ts.frnething,drug cmpaniesspendmrenmarketingandadvertising thannnewideas.overlyrestrictiveintellectual prpertyrightsactuallyslwnewdiscveries,by makingitmredifficultfrscientiststbuildnthe researchfthersandbychkingfftheexchangef ideasthatiscriticaltinnvatin.asitis,mstfthe imprtantinnvatinscmeutfuruniversitiesand researchcenters,likethenatinalinstitutesfhealth, fundedbygvernmentandfundatins. xvii! Jseph Stiglitz! CreativeapplicatinsfIPrightshaveresultedinthedevelpmentf medicinesfrpreviusly:ignredcnditins.asreprtedbythenew EnglandJurnalfMedicine, In2013,theFdandDrugAdministratin (FDA)apprved27newdrugsfrmarketing.Eightfthesedrugsarefr rphandiseases,includingsixrarecancers.infact,mrethanhalffthe 139drugsapprvedbytheFDAsince2009arefrrphandiseasesand cancers. xviii Thethreatfanunder:develpedpharmaceuticalmarketisexistentialwith respecttnn:cmmunicablediseases(ncds),suchascancersand cardivasculardiseases.ipprtectinsprvidepharmaceuticalcmpanies withtheincentivetresearchandmarketlifesavingdrugsthatcmbatncds, asshwnabve. xix! NCDsarethemstprminentdriverfhealthcarecsts,bthintermsf humanhealthandecnmicprsperity, andasiawillbethehardest hit. xx! Claiming63%falldeaths,thesediseasesarecurrentlythewrld smain killer. xxi!! Eightypercentfthesedeathsnwccurinlw:andmiddle:incme cuntries. xxii!! Halffthsewhdiefchrnicnn:cmmunicablediseasesarein theprimeftheirprductiveyears,andthus,thedisabilityimpsed andtheliveslstarealsendangeringindustrycmpetitiveness acrssbrders. xxiii!! Overthenext20years,NCDswillcstmrethanUS$30trillin, representing48%fglbalgdpin2010,andpushingmillinsf peplebelwthepvertyline. xxiv! By2030,ttalutputlsseswillsar,steadilyrisingverthenext20 yearsandpickingupsharplyby2030. xxv! Thehigh:incmecuntriesbearthehighestabsluteburdenflst utput,whiletheupper:middle:incmecuntries(agrupthat includeschina)havethesecndhighestburden,fllwedbylwer: middle:incmecuntries. xxvi 3

4 ! Theseheftysumscanbeputinperspectivebylkingathealth utlays.wrldexpenditurenhealthin2009ttalled[sic]us$5.1 trillin(us$754percapita)13,fwhich61%wasspentbypublic entities.thevastmajrityfthisexpenditure(us$4.4trillin)tk placeinhigh:incmecuntries,wherespendingpercapitawasus$ 3,971andthesharefpublicspendingwas62%fthettal.Atthe therendfthespectrum,lw:incmecuntriesspentanaveragef US$21percapita,fwhich42%wassuppliedbypublicentities. xxvii Onaglballevel,thereisaneedfrIPprtectinsthelpcmbatthefuture threatthatncdspse.! Rightnw,thereislittleecnmicincentivefrpharmaceuticalresearch anddevelpmenttaddressncds,buttpp sipprtectinsareaimedat creatingsuchanincentive. xxviii! Bilgics,frtunately,aregingtplayakeyrleintreatingcancerthrugh methdssuchasimmuntherapy. xxix Hwever,patentprtectinsanddataexclusivityareespeciallyimprtantfr themanufacturingfbilgics. Estimatesarethatthepre:apprvalcstfdevelpingabilgic appraches$1.2billinandthatthetimeneededtrecverthepre: apprvalr&dcstsbebetween12.9and16.2years. xxx IntheUnitedStatesthereisalreadyalawinplace(theBilgics!Price! Cmpetitin!and!Innvatin!Act!f!2009)thatprvidesfr12yearsf exclusivityfrthesedrugs. xxxi Bilgicsarestrictlyprtectedbecause,unlikegenericsmallmlecule medicineswhichrequiretheidenticalactiveingredientasthepineer medicine,bisimilarsdntneedthepineermedicineasareference pinttbecreatedandculdusethedatagatheredintheriginal medicine sclinicaltrialsinrdertbemanufactured. xxxii 4

Labr*and*Jb*Lsses* TPP,likepastagreements,suchastheNrthAmericanFree TradeAgreement(NAFTA),CentralAmericaFreeTrade Agreement(CAFTA),Chinapermanentnrmaltrade relatins(pntr)andunitedstates:kreafreetrade

5 Labr*and*Jb*Lsses* TPP,likepastagreements,suchastheNrthAmericanFree TradeAgreement(NAFTA),CentralAmericaFreeTrade Agreement(CAFTA),Chinapermanentnrmaltrade relatins(pntr)andunitedstates:kreafreetrade Agreement(KORUS),willcsttheUnitedStatesmillinsf middleclassjbs,prmteincmeinequalityanddebilitate themanufacturingsectr. AFebruary2014reprtfrmtheEcnmicPlicy Institutehighlightsthat5.7millinAmericanjbshave beeneliminatedbytradedeficitsver15years. xxxiv Americanwrkerscanntcmpetewhenwepartner withcuntriesthatmanipulatetheircurrencyandhave prlabrstandards. WhywuldanAmericancrpratininvestinthis cuntry,payamericanwrkers$15,$18,$20and hur,prvidehealthcare,dealwithenvirnmental regulatins,tradeunins,whentheycangabrad, paypeplepenniesanhur,nthavetwrry abuttheenvirnment. BernieSanders! CurrenttradenlybenefitstheCEOsandlarge multinatinalcrpratins,furtheringincme inequality.! The12:yeardataexclusivityinTPPisimprtantttheU.S. pharmaceuticalindustryandtheu.s.ecnmyalikebecause Abut 5,600medicinesareindevelpmentinthe12T.P.P.cuntries,accrding tthesenatefinancecmmittee.ofthse,3,372areintheunited States,includingmrethan900bilgics,whicharegrwnfrmlivecells. Theindustrycntributesnearly$800billinttheUnitedStatesecnmy eachyear. xxxiii!! TsayTPPwillcsttheUnitedStatesmillinsfjbsisanverstatement.Itis imprtanttrecgnizetheactualbenefitsffreetradeandwhytrade agreements,likenafta,cafta,korus,pntrandultimatelytpp,arenecessary. RegardingNAFTA. AnverwhelmingmajrityftheNAFTAtradedeficitstemsfrmU.S. fssilfueltradewithmexicandcanada. xxxviii RegardingChina,PNTRdidinfactleadtahugetradedeficitandthelssf manyu.s.jbs.but,itisequallyimprtanttntethatpntr*was*nt*a* traditinal*free*trade*agreement. GrantingChinaPNTRispartiallyrespnsiblefrjblssinthe manufacturingsectrasaresultftheliftingfuncertaintysurrunding investmentsinchina.thisabsencefuncertaintyledtalarge unexpectedutflwfinvestmentfrmu.s.cmpanies. xxxix 5

6 NAFTAcreatedahugedeficitwithMexicandlstthe UnitedStates680,000jbs.PNTRhasledtanetlss f2.7millinjbs.korushascstus75,000jbs. xxxv Manufacturingjbsthatusedtbeastablesurcef incmeandbenefitsfrthsewhwerentfrtunate enughtgtcllegenlngerexist. Tdaywhenyungpeplegraduatehighschl theydn thavethepprtunitytwrkinafactry andhaveauninjbandmakemiddle:class wages. BernieSanders! Instead,gdmanufacturingjbshavebeen replacedbyjbsatcmpanieswithlwwages,lw benefitsandare vehementlyanti:unin. xxxvi! 25%falljbsin1970weremanufacturingjbs; tdaytheyare9%. xxxvii! * Asaresult, skillintensiveindustriesmreinlinewithu.s.cmparative advantagedrelativelywellintermsfemplyment. Aftergranting ChinaPNTR,U.S.emplymentalsrseinindustrieswhereChinesetariffs declined. xl PNTRalsledttheeffrttimprveprductinthrughtechnlgyin theunitedstates,inrdertcmpetewiththechineselabrmarket.! Whilejbswerelst,prductivityhasrapidlyincreasedasaresultf theu.s.manufacturingsectrbecmingmrecapitalintensiveand seeingalargespikeinresearchandinvestmentinprductin technlgy. xli Nw,becausefalackfqualifiedwrkersandlwinterest,anissuethat manufacturingnwfacesis alackfwrkers. xlii Theindustryexpectsitwillneedtfillasmanyas3.5millinjbsverthe nextdecade inpartduetwrkerretirementsbutalsduetthe industry snascentu.s.revival. xliii Theindustrypredictsthatasmanyas2millinfthesefuturejbsmay gunfilledfrlackfqualified andwillingtalent. xliv Inreality,theaverageU.S.manufacturingwrker whalslikelyhldsa pst:secndarycredentialifntacllegedegree earned$77,506in xlv xlvi 6

7 PrlabrstandardsandlwerwagesabradhurtbththeU.S.andglbal market,yet,itisshrt:sightedtthinkthatprtectinismandrefusingt perateintheglbalmarketplacewillhelp. Prtectinrarelysavesjbspermanently.Frexample,aftertheBush:era steeltariffsin2002,200,000americanslsttheirjbsduethighersteel prices.that smrepeplethanthesteelindustryemplyedatthetime, andneinfurfthejbslstwerejbsinthesteelindustry. xlvii TPPwillleveltheplayingfieldwithstrictlabrstandards.TmMalinwski, AssistantSecretaryfrtheBureaufDemcracy,HumanRights,andLabrat thestatedepartment,ntedatarecentsenatehearingthatevenwithtpp unsigned,vietnamisalreadyallwingitscitizenstuninize afirstfrthe Cmmunistregime. Itisalsimprtanttntethat,incntrasttPNTR,amajrityfTPP cuntriesarealreadydevelped,highwagecuntriesthat,withthe exceptinfvietnam,dntpsethesamethreatthatan underdevelped:chinapsed,withitslargelabrsupplyanddemandfr investment.freetradewithvietnam,whichisafractinfthesizef China,willntresultinasimilaramuntfjblss. FreetradedesntnlybenefitCEOsandmultinatinalcmpanies;inrich cuntries,freetradeispr:pr. xlviii Therealincmelssfrmclsingfftradeis57%frthe10thpercentile ftheincmedistributinand25%frthe90thpercentile. xlix Lw:incmecnsumersspendrelativelymrensectrsthattrademre, whilehigh:incmecnsumersspendmrenservices,whicharetheleast traded.lw:incmecnsumersalsspendmrengdswithlwer elasticityfsubstitutinacrsssurcecuntries. l Inshrt,thereare largerexpendituresinmretradeablesectrsanda lwerratefsubstitutinbetweenimprtsanddmesticgdsfrpr cnsumers;thesetwfeaturesleadtlargergainsfrmtradefrthe prthantherich. li 7

8 U.S.smallandmedium:sizedenterprises(SMEs)alsstandtgainfrm tradeliberalizatin.infact,almst98percentfallexprtersand97 percentfallimprtersaresmes,representingalmst40percentfu.s. gdsexprtsand31.5percentfgdsimprts.inadditin,94percent fsmesareexprtersandimprters.therefre,tradeagreementsthat liberalizetradebarriers,likethetpp,shulddisprprtinatelybenefit SMEs.Incntrastwithlargebusinesses,SMEsgenerallybenefitthemst frmgvernmenteffrtstreducetradebarriersverseasastheir capacitytvercmethesebarriersbyestablishingsubsidiariesinther cuntriesismuchmrelimited. lii Hwever,thistrendfallsalngau:shapedcurve,meaningthatthereis smetruthttheargumentthattradeisleastbeneficialfrmedian: incmecnsumers.ultimately,theneshurtmstbyfreetradearethse inthemiddleclass. liii ThejblssesfrmagreementslikeNAFTA,aswellasactinssuchasPNTR, arerecgnizable,yetthisnegativeisfteninflatedandignresthepsitives. SinceNAFTA,frexample, newexprt:relatedjbsintheu.s.nwpay15: 20%mrethanthsefcusedndmesticprductin. liv Hwever,wages haventkeptpacewiththerapidincreaseinlabrprductivity,anddmestic incmeinequalityhasrisen(glbalinequalityisnasteady,butmdest decline). lv Tradehasntledtthistrend,butinsteadhasacceleratedtheeffectsf glbalizatin(specializatin,increasedprductivity)andhasntbeenmet withthenecessarydmesticpliciestlessenthegrwingpainsffree trade. ItisastretchtblameU.S.emplymentshiftsentirelynfreetrade.With regardtnafta, manufacturingintheunitedstateswasunderstress decadesbefrethetreaty,andjblssesinthatsectrareviewedaspart fastructuralshiftintheu.s.ecnmytwardlightmanufacturingand high:endservices. lvi 8

9 Clsing*Remarks* * Ultimately,ISDSisnecessarytprtectFDIandtattractinvestmenttdevelpingcuntries.Infact, BITswithISDSplayamresignificantrle inprmtingfdiinsuchsectrsthaninsectrswithpredminantlyprivatebuyers.thesimplereasnbehindthatpatternisthatthereisa greaterdegreefpliticalandregulatryriskinsectrswithsignificantgvernmentinvlvement. lvii SenatrWarreniscrrectinherassertin that,insmecases,isdsdesntallwcuntriesteasilyadptfutureregulatinsthataremeanttprtectcitizens,butaccrdingtthe OfficeftheUnitedStatesTradeRepresentative,inTPP,! Theinvestmentchapterwillincludecarefullydefinedbligatinsandexceptins designedtensurethatnthinginthechapterimpingesnlegitimateregulatinrprvidesfreigninvestrswithgreatersubstantiverights thanthsealreadyavailableunderu.s.law.itwillalsreaffirmtherightfanytppgvernmenttensurethatinvestmentactivityinitsterritry isundertakeninamannersensitivetenvirnmental,health,rtherregulatrybjectives. lviii CmbiningstrictanduniversallabrandenvirnmentalregulatrystandardswithISDSfrTPPcuntriesculdbeachangefrgd.The regulatinsthattppwillputinplacewillbecmetheagreedupnstandardfthenatinsinvlved;isdscaseswuldbeunabletchangethese standards.thiswillcreateamultilateralapprachtregulatinthatwillntnlyprtectwrkersandtheenvirnment,butleveltheinvestment playingfieldaswell. AstheU.S.ecnmyinevitablybecmesmreglbalized,itinturnbecmesmreprductiveandspecialized.Thisecnmicfluctuatinis inevitable;freetradeagreementsmerelyhastenthepacefthistrend.manufacturingasthemedian:incmestapleftheunitedstatesisn lngerthenrmandcannlngerbecuntedntsakupallunemplyment,butitstillhasalargerletplay.asmanufacturinginthe UnitedStateshasbecmemrevaluableandcmplex,secndaryeducatinrspecializedtraininghasbecmearequirementfrajbnthe factryflr,andthesejbswillbearundinthefuture.itisimprtantthattheu.s.educatinsystemmeetthistrend.manyfthese middle: classjbs exist,buttheeducatinrequiredtgetthemhasyettcatchup.theindustryandeducatinsystemmustadapt,andtheldmethd fdingthingscannlngerbeprtected.glbalecnmicintegratinisunstppable,barringlargescalewarrcataclysmicevents,and prtectinismhasbeenshwntdmreharmthangd. Itisimprtantthatpliciesbecmepractiveinsteadfreactive.TheneedfrtheU.S.gvernmentttakeanactiverleinassistingthse affectedbylabrmarketshifts,thrughprgramssuchastradeadjustmentassistance,isessential.mretimeandenergymustbedevtedt refrmingeducatinandexpandingwrkerrightstthsewhwrklw:incmeservicejbsinaneffrttmakethesejbsbetterpaying.as middle:incmemanufacturingjbsexperiencechangesandmarketshcks,theu.s.gvernmentneedstdmretcreateanewmiddle: incmeemplymentsectr.itistearlyttellwhetherthepresident srecentexecutiveactinnvertimepaywillbeastepintheright directin.whileitmayhelpwagedisparityfratime,inrderfrmeaningfulchangettakeplace,ashiftmustccurintheu.s.labrmarkett cmbatstructuralunemplyment,andthisisunlikelyttakeplacewithutgvernmentassistance. 9

10 i Warren,Elizabeth.TheTrans:PacificPartnershipClauseEveryneShuldOppse.WashingtnPst.February25,2015.AccessedJuly13,2015. ii Ibid iii Ibid iv Ibid v Investr:StateDisputeSettlement:ARealityCheck.CSIS.AccessedJuly13,2015. vi Ibid vii CmpetitivenessRankings.GlbalCmpetitivenessReprt2014:2015.AccessedJuly13,2015. viii Ibid ix Investr:StateDisputeSettlement:ARealityCheck.CSIS.AccessedJuly13,2015. x Ibid xi Ibid xii Abbtt,Rderick,FredrikErixn,andMartinaFerracane.DemystifyingInvestr:StateDisputeSettlement.ECIPE.2014.AccessedJuly13,2015. xiii Investr:StateDisputeSettlement:ARealityCheck.CSIS.AccessedJuly13,2015. xiv Dn'tBuytheTradeDealAlarmism.WashingtnPst.March11,2015.AccessedJuly13,2015. xv Stiglitz,Jseph.Dn'tTradeAwayOurHealth.TheNewYrkTimes.January31,2015.AccessedJuly13,2015. xvi Ibid xvii Ibid xviii Lybecker,Kristina.RefcusingtheTPPDebate:IPRightsAreCriticaltImprvingPublicHealth.IPWatchdg.June1,2015.AccessedJuly13,2015. xix Ibid xx Ibid xxi Blm,D.E.,Cafier,E.T.,Jané:Llpis,E.,Abrahams:Gessel,S.,Blm,L.R.,Fathima,S.,Feigl,A.B.,Gazian,T.,Mwafi,M.,Pandya,A.,Prettner,K., Rsenberg,L.,Seligman,B.,Stein,A.Z.,&Weinstein,C.(2011).TheGlbalEcnmicBurdenfNncmmunicableDiseases.Geneva:WrldEcnmicFrum. xxii Ibid xxiii Ibid xxiv Ibid xxv Ibid xxvi Ibid xxvii Ibid xxviii Lybecker,Kristina.RefcusingtheTPPDebate:IPRightsAreCriticaltImprvingPublicHealth.IPWatchdg.June1,2015.AccessedJuly13,2015. xxix BilgicalTherapiesfrCancer. NIH,NatinalCancerInstitute.AccessedAugust5,2015.* xxx Lybecker,Kristina. PrtectingDataExclusivity,PrtectingtheFuturefMedicine. IPWatchdg.Nvember10,2013. xxxi Ibid xxxii Ibid xxxiii Weisman,Jnathan. PatentPrtectinfrDrugsPutsPressurenU.S.inTradeTalks. NewYrkTimes.July30,2015. xxxiv Dn'tBuytheTradeDealAlarmism.WashingtnPst.March11,2015.AccessedJuly13,2015. xxxv FrmaBernieSandersspeechntheSenateFlr xxxvi Ibid 10

11 xxxvii Ibid xxxviii TradeinGdswithMexic. UnitedStatesCensusBureau.April3,2015. xxxix Pierce,Justin,andPeterSchtt.TheSurprisinglySwiftDeclinefU.S.ManufacturingEmplyment.April1,2015.AccessedJuly13, xl Ibid xli Ibid xlii Kim,Anne. Manufacturing s Branding Crisis. Republic3.0.August,2015. xliii Ibid xliv Ibid xlv Ibid xlvi US.BureaufLabrStatistics,Manufacturing!Sectr:!Real!Output!Per!Hur!f!All!Persns[OPHMFG],retrievedfrmFRED,FederalReserveBankfSt.Luis xlvii Wrstall,Tim.WhySteelTariffsWn'tSaveJbs.Frbes.July19,2014.AccessedJuly13,2015. xlviii Fajgelbaum,Pabl,andAmitKhandelwal.MeasuringtheUnequalGainsFrmTrade.NatinalBureaufEcnmicResearch.July1,2014.AccessedJuly 13,2015. xlix Ibid l Ibid li Ibid lii Ibid liii Ibid liv Sergie,Mhammed.NAFTA'sEcnmicImpact.CuncilnFreignRelatins.February14,2014.AccessedJuly13,2015. lv Lakner,Christph,andBrankMilanvic.GlbalIncmeDistributin:FrmtheFallftheBerlinWallttheGreatRecessin.WrldBank,2013. lvi Sergie,Mhammed.NAFTA'sEcnmicImpact.CuncilnFreignRelatins.February14,2014.AccessedJuly13,2015. lvii Abbtt,Rderick,FredrikErixn,andMartinaFerracane.DemystifyingInvestr:StateDisputeSettlement.ECIPE.2014.AccessedJuly13,2015. lviii Investr:StateDisputeSettlement(ISDS).UnitedStatesTradeRepresentative.March1,2015.AccessedJuly13,

i 13 xxi 59 xli 107 ii 15 xxii 62 xlii 110 iii 17 xxiii 65 xliii 112 iv 20 xxiv 67 xliv 114 v 22 xxv 69 xlv 117 vi 25 xxvi 72 xlvi 119

CONTENTS Introduction 7 i 13 xxi 59 xli 107 ii 15 xxii 62 xlii 110 iii 17 xxiii 65 xliii 112 iv 20 xxiv 67 xliv 114 v 22 xxv 69 xlv 117 vi 25 xxvi 72 xlvi 119 vii 27 xxvii 75 xlvii 121 viii 29 xxviii 77