The controversial Trans Pacific Partnership (TPP) trade agreement currently awaiting congressional approval would have a positive impact on the American economy according to a new report from the US International Trade Commission (USITC).
Specifically, the independent federal agency said President Obama’s signature trade agreement would have the biggest impact on the food and agriculture sectors which would see a $10 billion increase output by 2032, year 15 of the agreement. Though its impact may be small, the report says the agreement will lift gross domestic product by $42.7 billion, 0.15 percent, by 2032 and increase employment through the addition of 128,000 jobs (0.07 percent).