Both of Trump’s claims seem overblown.

First, while there is quite a bit of uncertainty associated with the TPP projections, it is difficult to support the claim that millions of U.S. jobs will be lost. The TPP will increase competition among the signatories in economic areas (for instance, finance and technology) in which the United States is a dominant player – and that should be on the whole a good thing for the U.S.

The simple truth is that trade agreements change the composition of jobs in the economy. Some workers will be happier with their new jobs, and others will not. Whatever the job losses from the TPP, a roughly equal number will be created.

Second, in theory the ISDS could be a disaster for governments that seek to enact or enforce laws and regulations that they believe are in the public interest but conflict with corporate interests. However, the TPP seemingly addresses these concerns, and the White House has detailed the many specific ways in which the TPP will go beyond previous agreements in order to protect against frivolous claims and threats to signatories’ sovereignty.

Claims about the impact of trade, and especially trade agreements, will continue to animate the ongoing presidential campaign. Given the importance of the topic, it is essential that claims be weighed against the evidence and that voters understand what trade can and cannot do.