The Trans Pacific Partnership Is An Asia Pacific Regional Free Trade Agreement

The Trans-Pacific Partnership (TPP) is a grand, 21st century regional free-trade treaty which was commenced on 2003. It initiated as a trade contract involving Singapore, New Zealand and Chile. Presently, the TPP consists of 12 countries as their members that includes US, Malaysia, Mexico, Canada, Japan, Brunei, China, Korea, Australia, Peru and Vietnam. Other countries like Bangladesh, Philippines, Indonesia, India etc. have also revealed their concern in merging with the TPP trade agreement. In 2011 the Trans-Pacific Partnership countries declared that the TPP is expected to “develop trade and investment accompanied by the TPP partner countries, to uphold innovation, economic expansion and advancement, and to support the formation and preservation of jobs. TPP will undo prospects for American employees, families, businesses, farmers, and ranchers by offering increased permission to some of the greatest growing markets in the world.

These export trade agreements, in the next two decades, will create thousands of available jobs, and also boost the GDP by approximately $25 billion, which benefits consumers, households and economic growth. There are several strategies under the new trade agreement that targets partnership and bring benefits:

Since its creation in 1994, the North American Free Trade Agreement (NAFTA) is a major issue of debate in the United States. The most important issue with NAFTA is how the agreement affects the U.S. economy. NAFTA has had a broad impact on the U.S. economy through creative destruction, globalization, job restructuring, and isolationism. All of these components have had both positive and negative influences on the U.S. economy. Creative destruction creates new jobs to replace the ones that were originally ended by NAFTA, globalization expands ideas, products, and business, but also causes the U.S. to lose money, job reconstruction recreates jobs to fit the functions of NAFTA and sometimes causes workers to lose their original jobs, and isolation

In fact, trade with Canada and Mexico supports 14 million American jobs and generates $1.3 trillion annually in goods and services traded across our borders. However, with the implementation of trade agreements such as the NAFTA, the world has become more interconnected, and citizens must be aware of the effects such trade agreements have on their living standards and job security.

After the controversial TPP fast track legislation was passed by Congress, the world woke up to the devastating effects of other "trade agreements."

Since ancient times, societies have used forms of trade in order to benefit themselves and their communities. From bartering in Ancient Egypt, to the international trading the world has today, trading has found its way into various sectors of modern civilization. The idea of free trade dates back to sixteenth century Spain and it was believed by certain economists to be the reason why certain civilizations flourished more than others. Free trade was an idea The U.S., Canada and Mexico struck gold with when they implemented the North American Free Trade Agreement, better known as, “NAFTA”. The use of NAFTA is in America’s best interest because, it benefits U.S. jobs, improves trade relations, promoted specialization of trade.

In the recent 2016 election Mr. President, Donald J. Trump has repeatedly voiced his opinion about the North American Free Trade Agreement (NAFTA). According to Tami Luhby from CNN (2016), Mr. President is quoted saying, “NAFTA is a disaster and one of the worst trade deals in history.” However, without NAFTA we would not be able to import nearly half of the goods we receive. For instance, Ford, one of the leading car manufactures is located in Mexico. With most of the cars America imports being from Mexico (Valdes-Dapena, 2016). With all the media hype surrounded around NAFTA it is hard to not let the media persuade you. However, I am here to explain why NAFTA is making our economy stronger and stronger every day.

What I have learned about the Trans-Pacific Partnership is that, it is an exchange between American and other eleven nation, Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam. TPP help American jobs with more higher-payment and to sold more Made-in-America items to other foreign countries so American jobs and workers would be strong and supportive. TPP ensure that any small business including farmers, and inventors can battle in part of the fastest creating business section. TPP fought for a way and a deal that puts American laborers first, so that nobody can beat them if they compete.

The governments purpose is to protect an individual’s rights to life, liberty, and the pursuit of happiness. The government also represents the people’s interests which implies a representative government, the rule of law majority rule, and a constitutional government. People believe their rights to life, liberty and the pursuit of happiness are being violated by this trade agreement. A mere 6, out of the 30 total chapters that construct the Trans-Pacific Partnership have to do with trade. This begs the question: what is the content suggested in the other 24? Jim Hightower writes: “The other two dozen chapters’ amount to a devilish ‘partnership’ for corporate protectionism. They create sweeping new ‘rights’ and escape hatches to protect multinational corporations from accountability to our governments. One notion that is expressed in those 24 chapters is the prices of prescription drugs will increase, which could absolutely threaten the governments protection of life and happiness. The Trans- Pacific Partnership would upsurge “costs for national health programs and over time jeopardize many and perhaps millions of lives in the Pacific region. In the Doha Declaration of 2001, all World Trade Organization (WTO) members—including the U.S.—acknowledged the humanitarian costs of pharmaceutical monopoly rights and

The Trans-Pacific Partnership is a controversial free trade agreement between Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States, and Vietnam, which encompass forty percent of the total global economy, making it the largest trade deal signed in the last twenty years. While President Barack Obama has been pushing this agreement, many politicians have come out against it, including presidential hopefuls Donald Trump and Bernie Sanders, calling it a “disaster”. Companies such as Ford Motor Company has also come out against Trans-Pacific Partnership because there is not a currency-manipulation provision (Sehgal). The Trans-Pacific Partnership is also controversial in other countries that

As mentioned earlier, the TPP is a major potential free trade agreement between twelve of the Pacific Rim countries. The countries are Australia, Canada, Japan, Malaysia, Mexico, Peru, The United States, Vietnam, Brunei, Chile, New Zealand, and Singapore (Freil, Sharon, Gleeson, Thow, Labonte, Stuckler, Kay, and Snowdon 1). Interestingly enough, this agreement is the technical successor to the P4 agreement that was initialised in 2006 (Elms 29). This agreement was held between Chile, Brunei, New Zealand, and Singapore. In 2008 the U.S. showed large interest in joining this agreement giving spark to a new agreement that has enticed other Pacific Rim countries (Elms 29). Taking charge of this new agreement the U.S. has laid down most of the TPP 's foundation to create an agreement that should allow for a

TTIP is a trade and investment deal that is being negotiated between the USA and the European Union. The advantages and disadvantages of the TTIP agreement are a topic of intensive debate. Nonetheless, the overall forecasts are rather promising. The US department of State predicts an annual benefit of $130 billion for the US and $163 billion for the EU, as well as a contribution of $140 billion to the world economy. The agreement is thought to broaden markets of both sides, strengthen energy security, create more opportunities for small business, help lower unemployment, and ensure stable long-term economic growth, making both US and EU more competitive on the

Recently Obama has been talking with South Korea about a free trade agreement. In this agreement it is likely to result in very few if any net jobs in the short run, according to the government. Although, “praising the deal reached by his trade negotiators, President Obama said on Monday that the accord would “boost our annual exports to South Korea by 11 billion” and “support at least 70,000 American jobs” (New York times). This deal will be very beneficial to industries including Detroit automakers and manufacturers of industrial and electronic equipment and high technology products. This type of deal would not only help out economy but provide many jobs for a lot of people out there looking for jobs. It would boost our economy and help out financially for those of low income.

The first piece of news I would like to write about is from BBC “World Business Report” reporting on the signing of the Trans Pacific Partnership trade deal in Auckland (New Zealand) on 4th February 2016. The aim of the TPP deal is to free up trade and investment between 12 countries across the Pacific Rim, that account for about 40% of the global economy: Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, USA and Vietnam. Those countries now have two years to ratify or reject the pact; however, if only ten nations ratified without Japan and the United States, the pact would not be enforced. New Zealand trade minister, Todd McClay, stated that according to Central Bank forecasts all the participating countries would benefit from the Trans Pacific Partnership trade deal. Despite the governments’ enthusiasm, there have been protests in different countries by those who claim that, because of this deal, corporations will profit and small companies and workers will lose.

The United States has always been promoting trade cooperation among international and inter-regional countries through Free Trade Agreement (FTA), which usually resulted in the elimination of the trade tariffs on variety of products. However, there are many controversies raised by these type of agreements. For example, some may argue that the FTA does not thoroughly discuss or examine the other problems of international trading apart from the import and export tariffs. Free trades seem to undermine the “fair trade” perspective that includes the well-being of the employees and the effect on the environment and the society of the pledged countries. Until recently, the U.S. initiated, the Trans-Pacific partnership (TPP), a global trade agreement that will impose stricter provisions on the labor issues such as workplace safety, labor issue, and labor dispute to the pledged countries.