Paul Krugman and TPP

I've got to take some issue with my friend Paul Krugman over his blogpost pronouncing the Trans-Pacific Partnership (TPP) no big deal. As a trade question he is undoubtedly right. The countries in the pact are ones with whom the United States already has extensive trade ties and generally low barriers. Eliminating or reducing the remaining barriers cannot possibly have much impact on the U.S. economy.

However it is a misunderstanding to see the TPP as being about trade. This is a deal that fo...