Congressman Smith ready to review Trans-Pacific Partnership agreement

“The TPP agreement is historic and will save American families hundreds of millions of dollars by providing American businesses with improved access to critical markets throughout the Pacific Rim”.

If adopted, the Trans-Pacific Partnership would become the largest regional trade deal in history, according to the New York Times. This includes provisions for neutral and transparent global arbitration of investment disputes.

Vietnam’s inclusion in the TPP would be seen as a triumph for the Vietnamese government, even though it carries risks for the Communist Party and could give a rare boost to reformers and activists campaigning for change in the country.

But when the Obama Admin. goes out prospecting for allies in its quest to ensure ratification in Congress, it may do better to spare its breath in pitching USA automakers.

The agreement will also deepen the Republic’s existing trade relationships by including components which were left out of previous agreements.

“The IPA has advocated that while Free Trade Agreements (FTAs) and other trade agreements are beneficial to our economy, more can be done to realise the benefits, especially for small business and small-to-medium enterprises”, Conway said.

Without the TPP, China, which isn’t part of the agreement, would wind up setting rules in the region. Trade deals shouldn’t encourage a race to the bottom when it comes to environmental and labor protections; instead, they should push for standards that protect the long-term interests of their people.

“With global trade flows declining in the first half of this year, the TPP has the potential to provide a much needed stimulus to the world economy, with the benefits felt way beyond the 12 signatory states”, ICC Chairman Terry McGraw and Secretary General John Danilovich said in a joint statement. Sending a bad signal to other prospective trade partners, India had petulantly called off the talks over the European Union banning the sale of a few generic drugs. Trade ministers announced the deal in Atlanta on Monday after over five years of negotiations. This was one main concern that was discussed in the meeting prior to the closing of the deal.

The head of the world’s biggest dairy exporter said he was “very disappointed that the deal falls far short” of its original ambition to eliminate all tariffs. Supporters of the TPP have promoted the pact as a counterweight to China’s growing influence.

“There are winners and losers but overwhelmingly this will drive enormous job growth and create all sorts of wonderful opportunities”.

Public health advocates, environmentalists, and labour groups are among the critics.

If both Canada and the US hold out, the TPP would definitely collapse.

The partnership is comprised of the United States, Canada, Mexico, Peru, Chile, New Zealand, Australia, Singapore, Malaysia, Brunei, Vietnam and Japan.