​Third Way Statement on the Signing of the Trans-Pacific Partnership

“There’s just no doubt: modern trade deals work.”

WASHINGTON — Third Way Vice President for the Economic Program Gabriel Horwitz issued the following statement on the signing of the Trans-Pacific Partnership:

“There is an unmistakable trend in U.S. trade deals since the dawn of the 21st century: they work. Nearly all recent trade deals have improved our balance of trade in goods—that is, we make and ship more stuff than we bring in from those countries. In the aggregate, the gains have been substantial. In the 17 countries we’ve signed trade deals with since 2000, for example, our trade balance in the blue-collar goods sector went from a $2.8 billion deficit to a $30.9 billion surplus.

“That’s why we congratulate President Obama and U.S. Trade Representative Michael Froman on signing the Trans-Pacific Partnership (TPP) trade agreement. TPP covers 40% of the global economy. Its signing is another massive step forward to enacting the most ambitious trade deal the U.S. has ever imagined. It tears down barriers to Made in the USA products and looks to continue the strong trend that we have seen from recent trade deals. Because there’s just no doubt: modern trade deals work.”