Groups take sides as text of trade deal is released

“This is not a climate change policy, it’s not an agreement to do with climate change…it’s a trade agreement that looks at trade issues”, Robb told the ABC. Labor-just weeks after eventually agreeing to support the China-Australia free-trade agreement-is not saying whether it supports the TPP agreement yet, owing to the need to actually read the document first.

Trade Minister Tim Groser has welcomed the announcement today by President Obama, under the Bipartisan Congressional Trade Priorities and Accountability Act of 2015, as a crucial step towards signature of the Trans-Pacific Partnership.

The pact would eliminate tariffs on textile and apparel goods traded between the 12 TPP countries – the U.S., Canada, Japan, Mexico, Peru, Chile, Australia, New Zealand, Brunei, Malaysia, Vietnam and Singapore – with many tariffs going to zero on day one, and others being phased out.

The deal is reportedly expected to represent up to 40 percent of the world’s Gross Domestic Product (GDP) once enacted.

China is not among the 12 Pacific-Rim countries which last month agreed to the trade pact, the most ambitious in a generation.

While Hatch said he would carefully study the text, released on Thursday, he saw problems with provisions on tobacco, labor rules and dairy. Congress has additional time beyond that to debate and vote on legislation to enact the agreement. We hope you will benefit from these insights, prepared by our global team of lawyers from Dentons offices across several of the TPP countries.

The Obama administration on Thursday posted the full text of the proposed Trans-Pacific Partnership, an worldwide trade deal to allow America to “write the rules of the road in the 21st century”.

After more than five long years of negotiations between nations of differing power there are winners and losers, and it can be definitely said that no TTP country got everything that they wanted.

Political analysts highlight that the TPP will be a “legacy-defining” achievement for U.S. President Barack Obama, an extremely business-friendly Democrat who has continually thrown workers under the bus as he kowtowed to big business throughout his presidency. Hillary Clinton, the front-runner for the Democratic Presidential nomination had also favored the deal when she was Secretary of State but is now opposed to it.