Happy to be Wrong About TPA

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President Obama Signing TPA, TAA

U.S. President Barack Obama signed into law on Monday legislation to speed trade bills through Congress. JONATHAN ERNST/REUTERS

As of today TPA and TAA are law.  President Obama signed the two bills this morning.  I have mixed feelings about this.  Like every economist worthy of the name I favor free trade.  But I also predicted that TPA would never make it to the Oval Office.  I was wrong, but in this case I’m happy to be wrong about TPA. Mea culpa.