U.S. leadership is premised on putting forward rules that other countries can buy into and requires consistency and predictability. That’s one of the harms of pulling out of the TPP—a lot of countries really went out on a limb, and it really raises a huge question mark, because they’d be extremely cautious about going down a similar path with the United States again.
[On the ongoing trade negotiations] If we’re serious about resolving the core issues that the U.S. has with China, then this is going to be a way station that’s going to require a lot more continued focus by the administration for a number of months if not years.
A good trade agreement will lead to job losses because what you’re trying to do is create more competition. Inefficient industries die, you create new opportunities, and new sectors...What you need to have is a mechanism in place to allow workers to take advantage of the new jobs, and the U.S. does not do that well.