"No one," he added, "is going to lose access to markets. It's that they're not going to gain access to markets, and that's very hard to observe."
Medium Term: Accountants, Computer Programmers, Travel and Other Service Industries
One of America's biggest goals in the TPP was to open up the rest of the world to our service industry exports.
According to the International Trade Administration, approximately 68% of all export-supported jobs in the United States are within the service industries (although those still account for less than half of the value of U.S. exports). Many of these involve skilled professions, and a major goal of this trade deal was to create new markets for those industries.
Just as importantly, it was to prevent those industries from being crowded out in the long run.
"It's not that Vietnam is now not going to buy U.S. business services," Jensen said. "It's that in 10 or 15 years, they're going to buy business services from China because China is rushing to fill the vacuum. And a lot of the TPP partner countries are saying, 'well, if the U.S. isn't going to play ball, we'll do business with China."
"Japan is [now] not going to open up to our services and Malaysia is not going to open up to our services, and as Vietnam grows they're not going to open up to us," he added. "They're going to open up to China."