Almost nothing that the president proposed in his State of the Union address would benefit the economy, with one important exception.
Trade may be the one area in which Congressional Republicans and the president can work together, and Obama has called the Trans Pacific Partnership a high priority that would not only strengthen the U.S. as a leader in the Pacific Rim, but also create jobs, boost investment, and be a boon to small businesses.
In this interview with KMED’s Bill Meyer in Medford, Ore., IPI resident scholar Dr. Merrill Matthews says the importance of fast tracking the TPP is an area in which he agrees with President Obama. Matthews discusses the benefits of fast tracking the deal, and takes a listener call to debunk myths and tout the economic benefits of trade expansion.
Matthews specifically addresses:
- How the large majority of markets are outside the US, which means in order for the US economy to expand, partnering with outside markets in trade is a necessity and will require concessions from both parties;
- U.S. companies are beginning to reverse “offshoring” trends;
- How the fast track process works, and its benefits to the U.S. ; and
- How President Bill Clinton and House Speaker Newt Gingrich worked together to fast track NAFTA.