Controversial Text of Trans-Pacific Partnership Agreement Released

But TPP, which will set common standards on issues ranging from workers’ rights to intellectual property protection in 12 Pacific nations, was kept largely from public scrutiny, angering transparency advocates concerned over its broad implications. The text details plans for handling of trade of all types of materials including live eels.

Australia’s Trade and Investment Minister Andrew Robb welcomed the release of the complete text of the deal, stressing that at the end of the negotiations TPP members had agreed to release details as soon as possible.

The pact calls for improved freedoms and more attention to the needs of indigenous people and overall public health, better access to medicine for people living in the TPP countries and increased protections for drug patents.

There’s no guarantee the pact won’t raise hackles with a few USA lawmakers, who have questioned whether it would help US exports and create jobs or just expose more American workers to low-wage competition.

The full text of the deal was released on Thursday.

Already both sides of Congress were demanding changes, such as withdrawing the potential exclusion of tobacco policies from the investor-state dispute process, stronger disciplines on so-called currency manipulation, and revisiting the deal on pharmaceuticals, Kelsey said in a statement.

Earlier this week, Hatch outlined expectations the administration must meet as Congress considers TPP in an OpEd for The Hill.

Even if Obama is gung-ho on the deal, prominent fellow Democrats like Bernie Sanders and Hillary Clinton have strongly opposed the TPP as it now stands.

On Thursday, US President Barack Obama officially notified Congress of his intention to sign the deal, however he must collect support in Washington to ensure it is going to be officially approved.

The 12 countries that have signed the agreement are Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, United States and Vietnam.

The countries must officially sign the deal – and then their legislatures must ratify it, which isn’t guaranteed.

The expert added that for now, Korea should take time to closely assess the regulations of the trade pact before deciding when to join, and that joining with other countries with similar interests could be a strategy for negotiating terms. Nevertheless, it said joining the multilateral trade bloc would be a boon to South Korean exports and that it will closely examine the agreement before making a final decision.

While the group said the agreement isn’t flawless, it’s an improvement over current tariff rates.