Key Provisions Of The Trans Pacific Partnership Agreement

This paper focuses on the key provisions of the Trans-Pacific Partnership Agreement. The agreement is an expansion from the Trans-Pacific Strategic Economic Partnership Agreement to now include 12 countries. The U.S. government has specific objectives, 13 in fact, for the agreement. If finalized, the agreement would encompass 40 percent of the world’s economy and produce over $300 billion U.S. dollars a year. Labor, goods, services, textiles, and intellectual property make up some of the key provisions of particular interest to the U.S. The President’s Administration is seeking â€Å"Fast Track Approval† to move this agreement unmolested through Congress for ratification. Due to many conflicting and competing outside interests, the negotiation proceedings have been kept secret so as to not complicate an already very complex and multi-faceted situation with cultural and bilingual challenges. Although not specifically stated, this endeavor is the U.S. governm ent’s economical approach to controlling the expanding sphere of influence of China by leveling the playing field with many of China’s trading partners. Introduction This paper will look at U.S. objectives for the emerging Trans-Pacific Partnership (TPP) and explore the roadmap or game plan of how the President of the United States (POTUS) and his Administration desire to make the TPP binding. The process will not be easy. There are skeptics of the TPP who highlight some legitiment issues which should be addressed.Show MoreRelatedThe Trans Pacific Partnership Agreement983 Words   |  4 PagesEvaluating the Theoretical Policies in the Trans-Pacific Partnership Agreement Liberalism asserts several tenets that explain the United States’ people’s failure to approve of a potential trade agreement, the Trans Pacific Partnership. Classical Liberalism refers to a series of concepts which are contingent upon individual autonomy. The Trans-Pacific Partnership Agreement (TPP) refers to a proposed free trade deal amongst 12 countries across the Asia-Pacific region including the USA. The tenets ofRead MoreThe Trans Pacific Partnership ( Tpp ) Is A Multilateral Free Trade Agreement Essay1507 Words   |  7 PagesThe Trans-Pacific Partnership (TPP) is a multilateral free trade agreement that aims to facilitate economic integration among its twelve member states. Scholars Capling and Ravenhill describe the agreement as â€Å"transregional† since it unites various states from five distinct regions: Oceania, North America, East Asia, Southeast Asia, and Latin America. After eight years of negotiations, the TPP was signed on February 4, 2016 bu t has yet to be ratified and implemented by its signatories. BesidesRead MoreTrans-Pacific Partnership: The Secret Negotiations2301 Words   |  9 Pagesplans for the Trans-Pacific Partnership, a substantial expansion and revision of the original 2005 Trans-Pacific Strategic Economic Partnership Agreement between Brunei, Chile, New Zealand, and Singapore (Hsieh 368). The new agreement would include at least five other countries (Canada, Malaysia, Mexico, Peru, the United States, and Vietnam), with the potential for Japan and South Korea to join as well (Office of the United States Trade Representative). The Trans-Pacific Partnership represents theRead MoreThe Trans Pacific Partnership ( Tpp )1178 Words   |  5 PagesThe Trans-Pacific Partnership (TPP) is a 12-nation Asian-Pacific trade agreement that seeks to increase economic integration among participating nations by lowering barriers to trade, improving trade facilitation and enhancing standards harmonization. Upon completion , the TPP trade area would comprise a region with $28 trillion in economic output, making up around 39 percent of the world’s total output. If the TPP is successfully implemented, tariffs will be removed on almost $2 trillion in goodsRead MoreTrans Pacific Partnership : A Free Trade Agreement Essay1719 Words   |  7 PagesThe Trans-Pacific Partnership is something that you may have heard of on the news, but like many, you probably do not know what exactly it is. The Trans-Pacific Partnership or TPP as it is commonly referred to in shorthand is a free trade agreement that the United States and 12 countries which includes Australia, Canada, Japan, Malaysia, Mexico, Peru, the United States, Vietnam, Singapore, Brunei, and New Zealand. Free Trade means that tariffs are virtually dismantled in between countries to supposedlyRead MoreThe Idea And Operation Of Free Trade Essay1771 Words   |  8 Pagesinternational gains. In free trade agreements, such as the North American Free Trade Agreement (NAFTA), sovereign states are able to import and export goods without tariff barriers and government intervention. Thus, facilitating trade between nations. Consumers could then purchase quality products at lower costs. Free trade also has the potential to boost globalization through the global interconnectedness. In order for free trade to work smoothly among nations, trade agreements are created to implementRead MoreIn This Report I Will Be Identifying The Different Types1237 Words   |  5 PagesIn this report I will be identifying the different types of trade, discussing the role of the World Trade Organisation (WTO) in global trade and how specific trade agreements operate and their impact on international trade. 2 Types of trade Free trade is the minimal amount of tariffs, quotas and taxes to allow countries to trade â€Å"freely†. The opposite of free trade is known as protectionism; the practice of shielding a country s domestic industries from foreign competition by taxing imports. ThereRead MoreThe Benefits Of Free Trade1920 Words   |  8 Pagesfor more than 85 percent of the job loss in manufacturing between 2000 and 2010† (Irwin, 2016). The president also seems to not understand that trade lowers prices for consumers. A Mercatus Center paper titled, â€Å"The Benefits of Free Trade: Addressing Key Myths,† states that â€Å"prices are held down by more than two percent for every one-percent share in the market by imports from low-income countries like China.† Trump’s decision to withdraw the US from the TPP was a mistake. His decision will not onlyRead MoreThe World s Biggest Financial Regulation Essay1896 Words   |  8 Pagesnations came together to sign the world s biggest financial regulation to date: the Bretton Woods Agreement. We saw a shift of global power and an era of constructive peace since, yet it came at a heavy economic cost in the failure of the dollar and the breakdown of the system shortly after. Today, the U.S. is reaching out to its Asian allies through the Trans-Pacific Partnership (TPP), a free trade agreement that aims to lift tariffs and expand trade relationships between nations accounting for 40% ofRead MoreImpact Of Trade Agreements On An International Scale1534 Words   |  7 PagesIntroduction Trade agreements have been around for the past several centuries, and naturally, they have evolved. Earlier on, they were used exclusively as agreements between nations to reduce tariffs on each other’s products. Tariffs, however, were not the only way a nation could protect its industries. Trade agreements have evolved to address this situation, and instituted measures to disincentivize circumvention of the spirit of these agreements. Evolving still, trade agreements have now grown into