Trans-Pacific Partnership: Job Creation in a Global Economy

The U.S. Treasury Department said Monday that the countries will continue to separately work together “strengthen macroeconomic cooperation, including on exchange rate issues”.

So here’s what we know: The deal’s details have not yet been released, and a timeline for a USA vote can not yet be predicted.

“If China participates in this system in the future, that will contribute to both Japan’s security and the stability of the Asia-Pacific region”, he said. Important dairy-state lawmakers, like House Ways and Means Committee Chairman Paul Ryan, a Wisconsin Republican, and Rep. Ron Kind, a pro-trade Democrat also from Wisconsin, will also be waiting to closely scrutinize the deal’s dairy details.

Benoît Simard, who runs a dairy farm in Stanstead, Que., said he’s concerned about the potential new market. “Ultimately, stakeholders may seek to influence the final deal through additional side agreements and through TPP’s implementing legislation in the United States, leaving opportunities for interested parties to still make an impact”. Such weaker rules of origin would simply confer the benefits of the TPP to countries outside of the agreement, and would weaken critical existing North American auto supply chains. The remaining 17 percent would only have to have 35 percent TPP content to get tariff benefits under the deal. You want to memorialize the TPP press conference in Atlanta by framing a transcript and hanging it in your office, right?

Worldwide Trade Minister Ed Fast has acknowledged the Conservative government, which has signed trade deals with more than three dozen countries over the last decade, faces the challenge of persuading overly cautious Canadian businesses to hunt for new markets overseas.

Congress gets a vote on the deal, known as the TPP.

“TPP may be the final blow to manufacturing in America”. But serious concerns have been raised on a number of key issues. That is a big concern, especially since among the countries included in the TPP is oil-rich Brunei, a country that adopted a vicious new penal code past year that threatens the rights and lives of women, lesbians, and gay men.

“It is time for the rest of us to stop letting multinational corporations rig the system to pad their profits at our expense”, said Sanders, who says he will fight the deal in the Senate. “Unfortunately, there is still no satisfactory plan to ensure that Mexico – a country where economic competition with USA workers is the most intense – changes its laws and practices to comply with its obligations in the agreement”.

Meanwhile, in other parts of the globe, world leaders were generally upbeat about the deal.

During a news conference on Tuesday, Japanese Prime Minister Shinzo Abe praised the agreement. But the article also notes a national election is coming October 19 and it remains uncertain whether Canada’s Parliament will ratify the deal. “The government must come clean now on what ugly compromises they have made behind closed doors”, she said.

“Trade Minister Tim Groser can’t avoid the fact that the TPPA doesn’t actually break down trade barriers with markets like Canada, and it will be another 25 years before milk powder tariffs in the United States market are gone”.

“The agreement reached today by the countries negotiating the Trans-Pacific Partnership is a very positive development”, said global Monetary Fund Managing Director Christine Lagarde. Excluding China, East Asia purchased a smaller share of USA exports in 2014 than it did five years earlier, despite a 54 percent increase in total US exports in that period.

Even though President Obama has not yet released details of the Trans-Pacific Partnership announced Monday, supporters and opponents are making their voices heard – at full volume.

HOW CUBA MOVED FROM CARROT TO STICK: Economics is only part of the reason USA agricultural exports to Cuba declined from $710 million to $291 million between 2007 and 2014, writes Danny Vinik for POLITICO’s The Agenda.