United States pushes Vietnam to improve labour rights in TPP deal

Republican U.S. Senate Finance Committee Chairman Orrin Hatch said Friday that the Obama administration might have to renegotiate parts of the 12-nation Trans-Pacific Partnership trade deal, the text of which was released Thursday.

But the bill has its detractors as well, most pointedly the Electronic Frontier Foundation, which has called for protests of the deal and other “secret” trade agreements in Washington, D.C. November 16 and 17.

“We were pleased to have the opportunity to review the TPP agreement in full today and it confirms the positive results our negotiators were able to achieve over the past five years of talks”. He added that it will get rid of 18000 taxes which countries impose on U.S. goods.

ISDS was left out of the Howard-era U.S. free-trade agreement, but it has made its way into the TPP.

The accord must be signed and ratified by the respective countries and many may face uphill battles, not least in the United States as it tries to convince a sceptical Congress.

It remains uncertain, however, whether US lawmakers will immediately work on relevant legislation after Obama signs the initiative, which would cover a few 40 percent of the global economy. The deal cuts trade tariffs and sets common standards in trade for all the countries.

That bilateral agreement would require Vietnam to change laws or enact new ones to allow workers to form unions independent of the government, and they would be empowered to strike not only over wages and hours, but also over working conditions and rights.

The White House on Thursday released full text of the Trans-Pacific Partnership, bringing in a mixed bag of ag react. The US has also welcomed Seoul’s interest in the TPP.

While the United States has not accused any of the TPP members of currency manipulation, it has criticized South Korea, which wants to join the trade group, of keeping its currency artificially low.

Japan has pledged to ease trade barriers on imported French fries and butter – products which have been in short supply in the Asian market – while Malaysia will eliminate tariffs on all imported alcohol for the first time in a trade agreement.

RILA said that retailers look forward to educating consumers and Congress on the benefits of free trade in the months ahead.