Rep. Davis backs trade deal, but ‘devil is in the details’

Under the China-Australia Free Trade Agreement signed in June, tariffs on more than 85 percent of goods traded between the two countries will be cut to zero immediately.

Obama said he plans to make a broad case to the public on the merits of the TPP deal, as well as to mayors, governors and other constituencies.

U.S. President Barack Obama said on Tuesday that he is confident his administration will be able to win approval from Congress for the Trans-Pacific Partnership (TPP) trade deal. “Supply management should have been kept right out of TPP negotiations”.

Fitch Ratings cited one academic study by Robert Lawrence modelled gains in GDP by 2025 attributable to the pact ranging from 0.4% for the USA to 13.6% for Vietnam.

Vilsack said estimates show the agreement should increase exports by $130 billion.

The American Farm Bureau said, “We hope the agreement will bring a more level playing field for farmers and ranchers by reducing tariffs and removing non-science based barriers to trade”.

“It could also be a stepping stone to closer economic engagement across the Asia-Pacific region”, she said.

“From the statements made by our negotiators, it appears that the agreement will eliminate tariffs and other market access barriers in most markets, and substantially increase access in remaining markets”, said Texas farmer and American Soybean Association President Wade Cowan.

“A Labor government did not agree to the inclusion of ISDS clauses in agreements we negotiated, we don’t believe they are sensible policy – but ultimately when it comes to this agreement we are going to analyse it closely”.

But most environmental groups are extremely unhappy with the TPP.

To use that influence in a way that opens up economic opportunity for American businesses and workers in 40 per cent of the world’s economy represents a substantial success in using that sway to benefit the American people, he said.

Zhang Yansheng, secretary-general of the academic committee of the National Development and Reform Commission, said five TPP nations－Australia, New Zealand, Singapore, Chile and Peru－have already inked FTA deals with China.

“I suspect any new dairy access is largely smoke and mirrors with quotas on carefully selected products… the problem is we can’t see the details to assess that”.

Countries such as Thailand and Indonesia, which have been looking to boost foreign investment and exports, may come under pressure to join TPP should FDI and trade flows from Japan and the United States shift to member countries such as Vietnam and Malaysia.