By SIMON CONSTABLE
NEW YORK (TheStreet) -- The Trans Pacific Partnership, or Obamatrade as it's known to opponents, might be bad news for America's beleaguered manufacturing workers. That is, if it ever gets approved.
It's hard to come to any other conclusion after reading a recent working paper from the Federal Reserve that studied the effects of liberalizing trade with China in the past decade. The authors conclude that the U.S. lost 1 million factory jobs in just eight years through 2007.
The Trans Pacific Partnership could mean more of the same. By far the likeliest outcome will be "another trade-related disaster for U.S. domestic manufacturing," says Alan Tonelson, an international trade and manufacturing expert with more than three decades in the field.
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