Beyond the specific economic benefits of the agreement, several of the leaders talked about how TPP fit in their own domestic reform agenda – whether it was in Japan and the third arrow of Abenomics; or in Vietnam where TPP will require significant reforms of the state-owned enterprise sector, the labor regime there, the IPR regime as well, and how TPP will help those countries further their domestic reform efforts. “A bad deal for American workers”, AFL-CIO President Richard Trumka said. But this is, after all, a trade deal; climate issues are being dealt with elsewhere.
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Lawmakers in the nation’s capitol are reviewing the text of the Trans-Pacific Partnership, an agreement that solidifies trade relations between America and 11 other countries including Mexico and Canada. Pharmaceutical companies complain they aren’t getting enough protection for their patents.
Hollywood, Silicon Valley and agribusiness mostly like the deal, which protects entertainment copyrights, eases the flow of data across borders, and opens doors for USA exports of meat and rice to Asia.
With such interlocking trade agreements entered into under Asean, plus China, Japan, and the U.S.; with Apec and even as far as Nafta and European Union, it now becomes clear that what many countries grudgingly acceded under the more democratic arrangement of the World Trade Organization (WTO) would now be entrapped once they ratify the membership with TPP.
First, he said, the TPP’s impact has probably been oversold.
“We reject Barack Obama and kufr [disbelieving] leaders because they are a country that has clearly launched attacks against Muslims and until now, continues to attack Muslims”. “It’s clearly good for the entertainment and tech sectors”. He said the United States would be relentless in tackling terrorist threats and was thankful to all other parties who stood by it to combat terrorism.
No trade agreement ever negotiated-TPP included-is flawless. There would no trade package the TPP could offer in exchange for membership, similar to that of the Chinese-initiated Asian global Infrastructure Bank.
Debate on the country’s possible participation in TPP emerged following President Joko “Jokowi” Widodo’s statement during his USA visit that Indonesia meant to join the group. Obama hasn’t been subtle about pushing that geopolitical argument.
US Trade Representative Michael Froman said on Thursday he expected Congress to vote on a 12-nation Pacific Rim free-trade deal early next year. To American workers, it’s not.
Rather, the TPP could impose a universal regulatory system of controls and standards favorable and beneficial to the United States and to its multinational corporations. The US isn’t openly taking sides between Beijing and regional capitals on territorial claims, but rightly backs the right of free navigation in the area.
Connolly said the 28 Democrats who support trade promotion authority (TPA) or fast-track, which will streamline the deal through Congress, “are pretty solid” in their support.
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“Things are on the move and the U.S.is looking a little more positive and a little stronger in the region than they have in a number of years”, Sherry Gray, director of global programs at the Humphrey School of Public Affairs, told an editorial writer. And like any trade agreement, it creates winners and losers.
