Officials released details of a sweeping Pacific Rim trade deal Thursday, setting the stage for a raucous debate in Congress: Would the pact promote US exports and jobs?
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The group explained the TPP if enacted would allow online advertising networks and data brokers to write their own rules for personal data protection, the only requirement being that they meet “weak and self-serving standards”.
Trudeau is planning to attend both the upcoming G20 and APEC summits in November, where Japan is keen to talk to Canada about the TPP.
The text indicates that the TPP not only affects traditional “trade” matters, such as tariffs and quotas, but also sets rules regarding financial regulations, food safety standards, medicine patents, government procurement, energy exports and more.
The White House says the agreement known as TPP, which was reached last month, would wipe out numerous tariffs and import restrictions on autos, agricultural products, chemicals and consumer goods. The TPP signatories constitute 40 percent of the world economy.
Mustapa said the cost benefit analysis on the trade agreement was now being carried out by PricewaterhouseCoopers and the Institute Of Strategic and worldwide Studies and is expected to be completed within two to three weeks. If ratified, the TPP will be a legacy-defining achievement for Obama and his administration’s pivot to Asia, aimed at countering China’s rising economic and political influence.
The Reserve Bank of New Zealand and its 11 counterparts in the Trans-Pacific Partnership trade and investment pact have agreed to avoid unfair currency manipulation as part of a regionwide push for greater cooperation, adopting … Or would it expose more American workers to low-wage competition and give multinational corporations too much power?
“The TPP means that America will write the rules of the road in the 21st century”, Obama previously said.
“Along with the landmark North Asian bilateral trade agreements we have concluded with China, Japan and South Korea, the TPP forms a transformational series of agreements that will contribute substantially to the diversification of our economy in this critical post mining boom phase”. US Trade Representative Michael Froman warned that trying to reopen the complex deal could unravel the whole package.
Recent United States trade agreements have taken from 12 days, in the case of Oman, to 113 days, for Chile, between the conclusion of negotiations and release of the text. “As Congress begins to read and analyze the text of the Trans-Pacific Partnership, we can only hope they do not fall for the same empty promises that have been made with every other free trade agreement to date”.
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“The TPP’s secretive, lobbyist-controlled policymaking process has led to a deal that upholds corporate rights and interests at the direct expense of all of our digital rights”, it said.
