The policy and political bottom line of today's grim trade data: Americans' election-year trade revolt is spot on and we need a new American trade policy. If any more evidence was needed, the actual outcomes of the pact that served as the TPP's blueprint makes the case in a depressingly stark way.
President Obama is likely to use the State of the Union to push for passage of the Trans-Pacific Partnership (TPP) and the rigged "fast track" trade promotion authority. Here are some facts to counter the expected public relations campaign.
With the Republicans and the Obama administration attempting to rush headlong into a new trade agreements with Korea, and possibly also with Panama and Colombia, it is incumbent on Americans to apply a bit of empiricism.