In one of his first actions as President, Donald Trump signed an Executive Order that put the final death nail in the proposed Trans-Pacific Partnership (T.P.P.) this week. My guests today will discuss what was in the T.P.P., what the U.S. will be missing out on by backing out of the T.P.P., and why Trump's decision just opened a window for China to become the dominant player in the Pacific Rim.

I'll talk with the outgoing U.S. Trade Ambassador Michael Froman who negotiated the Trans-Pacific Partnership on behalf of the U.S., and then I'll talk with two leading economists who both served as the Chairman of the President's Council of Economic Advisors. Prof. Austan Goolsbee, served as Chairman of the C.E.A. under President Barack Obama, and Prof. Martin Felstein held that position under President Ronald Reagan, but they BOTH agree that free trade is a net win for the U.S. and the demise of the T.P.P. is a terrible loss opportunity for America.

If you enjoyed today’s podcast, then follow Prof. Austan Goolsbee at @Austan_Goolsbee and Amb. Michael Froman at @MikeFroman. You can read many articles by Prof. Martin Feldstein at www.nber.org/felstein, and articles and research by Prof. Austan Goolsbee are at www.faculty.chicagobooth.edu/austan.goolsbee.

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