Aug 18 2018
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Trans-Pacific Partnership (TPP) should pass Congress because it will benefit companies, employees, and the U.S.

Posted by admin in Blog 1 Comments

NEW YORK (TheStreet) -- United Parcel Service (UPS) CEO David Abney told Fox Business' "Cavuto: Coast to Coast" that the Trans-Pacific Partnership (TPP) should pass Congress because it will benefit companies, employees, and the U.S.

With both Republican presidential candidate Donald Trump and Democratic presidential candidate Hillary Clinton opposed to the trade agreement, "there's a sense of urgency" to get it passed before either one takes office, Charles Payne noted.

The American public has made it clear they don't want the agreement, Payne said. "What are they missing?" he asked Abney.

"I don't believe it's clear that the American public doesn't want it," Abney replied, noting there was simply a "vocal group" of people that were opposed to the agreement.

A recent Pew Research Center survey showed that more than 50% of Americans view trade agreements as a positive, Abney said.

"I believe there are a lot of people that do see the beenfits" such as creating more jobs, he said.

Some critics say the North American Free Trade Agreement (NFTA) took away jobs and that this one will do the same, Payne pointed out.

"You have to remember that NAFTA was 20 years ago. TPP is a 21st century agreement that is tailored to conditions we're facing today," Abney explained. The Trans-Pacific Partnership (TPP) takes e-commerce into account and has "a lot" of additional protections, he said.

"Could you say to the American public that TPP would create more jobs than it would destroy?" Payne asked.

"Absolutely," Abney said. The U.S. International Trade Commission (USITC) said that the agreement would be "a positive from a financial standpoint" and would increase exports and jobs, he said.

Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

TheStreet Ratings team rates UPS as a Buy with a ratings score of A. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks the team rates.

1 COMMENTS

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Clark Jason
May 16, 2018

Very informative article, seems to me safe deposit boxes are still the safest anyways. Considering safety measures employed by safe deposit companies and added insurance too.

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