What is the Trans- Pacific Partnership (TPP)? The Trans- Pacific Partnership (TPP) is a trade and investment plan that is being negotiated in the Asia-Pacific region. The TPP wants to increase trade and investment with other partner countries, promote change, economic growth and create jobs. There are 12 members of the TPP that negotiate, this group forms strategies for growing economies. The TPP is representing more than 792 million people and the GDP is $28.1 trillion. |
Canada
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The process started in December 2011, gathering information and getting advice from provinces, territories, businesses, non-governemental organizations and the general public. All Canada's international trade agreements go through the House of Commons where they are debated and voted on, then approved by parliament. The TTP has three main points which are: TPP will strengthen trading partnership between Canada and Asia- Pacific reducing tariffs on Canadian tariffs and it would benefit exporters across Canada in a number of areas such as agriculture, wood products, chemicals, and seafood. Also it would also create a market that could be foreseeable for Canadian services providers. It will include new members and this could lead to economic growth raising Canada's international trade. It will also give Canada to work alongside the U.S. to increase North American integration and supply chains. Being apart of the TPP will help make sure Canadian businesses are not disadvantaged with its competitors. TPP will increase the flow of the people, data and capital. It will also be able to provide investors with a stable investment in TPP countries. TPP will support Canadian innovation. The Government is continuing to keep Canadians up to date during negations, the Government continues to communicate with stakeholders on the TTP negotiations. Despite all the benefits that the TPP brings to Canada, the TPP has become a contraversial issue. The TPP has been negotiating in secret meetings led by the government and corporations. People have been protesting against TPP whether it be online or in public. People are worried the “trade” deal will give corporations more power to undermine public policy. Also people are worried about the environment, public health, and agriculture. The problem with the TPP is people feel they have been misled and have been kept out of the loop.The last TPP meeting was held in Washington, D.C. and the next meeting will be take place in January from January 26 to Feb 1 in New York City. These meetings will carry on the negotiations on the Trans Pacific Partnership.
U.S.
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The Trans Pacific Partnership (TPP), From the American Side
The TPP affects about a third of the world’s international trade. America is a huge contributor to this deal. The issue is an extremely controversial one that has stirred up a lot of discontent in the United States. The primary concern is the lack of transparency in the deal. The actual text is not open to the public or even the US Congress. The negotiators of the deal are the twelve representatives from the countries that are involved in the deal (including Barack Obama) as well as hundreds of officials from private corporations and banks that have access to the deal.
Though the text is not public, parts of it that have been leaked have been thoroughly disputed. One of the things that Americans don’t like about the act is that it would give corporations the right to sue the American government for making laws that would reduce their expected earnings. So for example if there were sanctions made around dumping waste into a certain river and there was a company that intended to do so. The company would be able to sue the American government for the money they are losing because they could not dump waste into the river. Other concerns with the TPP are amendments that affect the price of medicine, local labour laws, the environment, food safety standards and internet freedom.
There are many members of Congress that state that they are very concerned about the lack of transparency of the TPP. The press has called this deal “A Corporate Trojan Horse” and “NAFTA [North American Free Trade Agreement] on steroids.”
Barack Obama states that the deal will create job growth, higher income better trade and higher investment standards for all the countries involved, including the US. He says that this will continue to be his “case” to Congress and the American people. In supporting the TPP Obama is turning away from his fellow democrats and siding with the Republicans on the issue.