The TPP, reached on Monday last week after marathon talks between the USA and 11 other Pacific Rim nations, aims to liberalize commerce in 40 percent of the world’s economy and would be a legacy-defining victory for US President Barack Obama.
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Beijing is supposed to the key player in the Regional Comprehensive Economic Partnership – this is a proposed 16 nation free trade area which would be the world’s biggest bloc and it consists of more than 3.4 million people. “We need an entirely different financial system which is part of the American productive economy, not as is now the case, Wall Street being an island unto itself”.
Not content to cast doubt on her seriousness as a steward of USA foreign-policy interests, especially the alliance with Japan, Clinton compounded the error by going out of her way to trash Obama’s trade deal with South Korea, volunteering that that agreement, in effect for barely 3½ years, “doesn’t have the results we thought it would have in terms of access to the markets, more exports, etc”.
China was invited to join the TPP by Hillary Clinton in 2012. The agreement would eliminate or significantly reduce tariffs on our products and deter non-science based sanitary and phytosanitary barriers that have put American agriculture at a disadvantage in TPP countries in the past. Despite a final agreement, the text is still being withheld from the public, notably until after the Canadian election on October 19.
In the United States, this trade agreement is a heavily politicized issue. This statement provides fuel to long-held allegations that the TPP is being used by the U.S.to balance against China. The Trans-Pacific Partnership (TPP) has the potential to open many leading global markets to Nebraska agriculture, but it is important we review all the details before determining whether this agreement should become law. I will also focus on whether this agreement will correct trade imbalances and establish enforceable standards to ensure Nebraska products are treated fairly in the TPP countries. The other two being Trade in Services Agreement (TISA) which covers 52 countries and TTIP, the EU-US version of TPP.
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The wide-ranging group of 26 former Asia-focused trade, economic, diplomatic, security and intelligence officials sent a letter on Wednesday to House and Senate leadership calling the Trans-Pacific Partnership (TPP) a “concrete manifestation of our rebalancing strategy toward Asia and a strategic necessity for the United States”.
