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Politics & Government
Tue April 30, 2013
Is the TPP a threat to U.S. auto makers?
On the surface, it sounds like easing trade restrictions with foreign nations could present new opportunities and more business for American companies like the Detroit Three automakers.
But, is there a deeper danger to American jobs in these overseas trade agreements?
Michigan Democratic Congressman Gary Peters voiced his concerns about a new multi-lateral trade agreement known as the Trans-Pacific Partnership.
"[The TPP] is a number of Asian countries coming together and looking at free trade agreements between them and increasing trade," Peters said.
Congressman Peters believes that letting Japan into the TPP could be dangerous for U.S. auto companies.
Japan operates on a nearly completely closed market economy, which Congressman Peters doesn't feel is fair, and which makes it difficult for U.S. auto companies to sell cars.
Conversely, President Obama is pushing for the Partnership as a means to increase exports as a key step in economic developments for the United States.
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