New research shows that TPP agreement will costs Canada 58.000 jobs, and not grow the economy. A new study from researchers at the UN and Tufts University shows the negative economic and impact of the TPP trade deal for Canada and its people. Researchers have found that GDP will not grow, but jobs will be lost.
The analysis shows that Canada can expect a mere 0.28% increase to GDP growth—effectively zero change—over the next ten years if the TPP is implemented. The situation is worse for the U.S. and Japanese economies, which will actually shrink under the TPP, according to the authors.
Even the loudest advocates of the Trans-Pacific Partnership Agreement (TPPA) concede that the macroeconomic benefits for Canada will be small, as we have written before. Canada’s former trade minister promised a $3.5 billion boost to the Canadian economy—a fraction of a percent—if the massive trade treaty goes ahead. The most optimistic forecasts, including a recent report from the World Bank, point to an increase of around 1% to the Canadian economy by the year 2030.”