(Associated Press) A contentious trade deal between the United States and 11 Pacific Rim nations would give the U.S. economy a modest boost, an independent federal agency reported Wednesday.
The U.S. International Trade Commission said the Trans-Pacific Partnership would increase economic growth and create jobs. But the gains would be vanishingly small: After 15 years — 2032 if the agreement takes effect next year — the deal would add just 128,000 jobs, an increase of less than a tenth of 1 percent. Exports would increase, but imports would increase more, the report said.
U.S. Trade Rep. Michael Froman said the report shows that "TPP will benefit our economy at home and allow the U.S. to help set the rules of the road for trade in the Asia Pacific."
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