China said on Thursday it did not feel targeted by a US-backed regional trade accord, the Trans-Pacific Partnership, but would evaluate the likely impact comprehensively. Instead, we are being presented with a trade deal, negotiated in secret mainly by corporate lobbyists, that looks to offshore U.S. workers’ jobs and attacks workers’ living standards, raises real concerns about food safety and our ability to protect the environment, and allies the United States with governments that engage in forced labor and abuses of their own citizens, like Malaysia, Vietnam and Brunei.
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It aims to counter the might of China and will cut trade barriers affecting everything from the price of cheese to the cost of cancer treatments.
An agreement was reached earlier this month among the 12 nations involved in negotiations aimed at creating a Trans-Pacific Partnership free trade agreement and that agreement must now pass the scrutiny of the federal Parliament for ratification and implementation.
Winemakers across the Pacific Rim are hailing a huge new trade deal, saying it will mean easier access and fairer trading conditions, but there are no guarantees that any savings will filter down to the consumer.
RCEP, which comprises the 10-nation ASEAN club plus six others – China, India, Japan, South Korea, Australia and New Zealand – is a Beijing-backed trade framework that has gained prominence as an alternative to USA plans. Together they account for 40 percent of the world trade. These critics say free trade deals in general make it easier for us employers to move jobs to nations that have lower wages and fewer environmental regulations.
The agriculture and water resources minister further said that the negotiation is not the end but the beginning of a new bond between the 12 TPP member countries.
American auto parts makers have been wary of the TPP, because it initially allowed vehicle companies to use more cheap parts from countries that don’t have to abide by the treaty, like China. “We’re cautiously optimistic that the tariff phaseout period will be beneficial to California wine exports”.
“The Liberals will support the deal”, Harper predicted.
“It is a major outcome not just for Japan, but also for the future of the Asia-Pacific”, Abe told reporters shortly after the deal was clinched.
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Prime Minister Malcolm Turnbull today welcomed the deal, which he said would provided guaranteed access for Australian businesses in areas including telecommunications, mining services, transport, health, education, finance, legal and tourism.
