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

1146 Words Sep 12th, 2015 5 Pages
“The Trans-Pacific Partnership is an Asia-Pacific regional free trade agreement currently under negotiation between the Unties States and about a dozen countries surrounding the Pacific Ocean” (Weddle, 2013). It’s a giant free trade deal that has been in the process of negotiation for about a decade. The ultimate goal of the deal is to join countries together through a unified agreement and make free trade among these counties smooth and painless. The trade agreement covers everything from tariffs to standards for food safety. If signed, this deal would affect many aspects of the economy. For starters, “Its provisions to enforce ‘intellectual property rights’ would strengthen patents restricting the availability of prescription drugs” (Miller, 2015). This will increase prices, adding an additional financial burden to families who are already struggling to afford wildly expensive drugs. For instance, those suffering from cancer or other terrible diseases are already facing massive expenses in order to provide the proper drugs and care for themselves or their loves ones. This deal will only make matters worse for them. The Trans-Pacific Partnership could also have dramatic ramifications on the business world and the manufacturing industry. “The U.S. would have to agree to waive buy American procurement policies” (Nash-Hoff, 2015). Instead, every company in every country that signs the agreement will have just as much opportunity to “bid on government procurement…
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