Government Cover-up of the Cannibalization of the U.S. Economy, in the Making

Faced with the prospects of an even larger trade deficits resulting from the Trans-Pacific Partnership (TPP) and the Transatlantic Trade and Investment (TTIP), the current Administration is prompted to take preemptive measures by proposing to distort manufacturing statistics that could have widespread implications with the value of U.S. exports surging and our trade deficit significantly shrinking. This dangerous falsehood will convey the message that our economy, particularly industrial sectors like manufacturing, is growing at an accelerated rate, when in fact it is not. It will also be relied on to support trade and investment agreements that have had, in reality, a negative impact on U.S. manufacturing and its workers.

Another serious implication involves the method that various agencies use to calculate domestic content of goods and services for measuring associated U.S. jobs. Domestic content is the key factor in the application in Buy American laws and U.S. Export-Import Bank policies.

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