What are: TPP and TAFTA?
TPP …. The 2005 Trans-Pacific Strategic Economic Partnership Agreement (TPSEP or P4) is a free trade agreement among Brunei, Chile, New Zealand, and Singapore.
It aims to further liberalize the economies of the Asia-Pacific region.
Since 2010, negotiations have been taking place for the Trans-Pacific Partnership (TPP), a proposal for a significantly expanded version of TPSEP.
The TPP is a proposed free trade agreement under negotiation by (as of August 2013) Australia, Brunei, Chile, Canada, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States, and Vietnam.
South Korea was asked by the US to consider joining the TPP but declined for the time being.
The TPP is ostensibly intended to be a “high-standard” agreement specifically aimed at emerging trade issues in the 21st century. These ongoing negotiations have drawn criticism and protest from the public, advocacy groups, and elected officials, in part due to the secrecy of the negotiations, the expansive scope of the agreement, and a number of controversial clauses in drafts leaked to the public.
TAFTA …. The Transatlantic Free Trade Area (TAFTA) or Transatlantic Trade and Investment Partnership (TTIP) is a proposed free trade area between the United States and the European Union.
It was considered in the 1990s and again in 2007. In 2013, “United States-European Union High Level Working Group on Jobs and Growth” recommended the start of negotiations on the Transatlantic Trade and Investment Partnership.
It represents potentially the largest regional free-trade agreement in history, covering more than 40% of world GDP, and accounting for large shares of world trade and foreign direct investment.
In case of a fully realized agreement until 2015, the European Commission expects 400,000 new jobs, an average a financial relief of 545 Euro for each household every year, as well as annual gains of $160 billion for the EU and $128 billion for the US.
However, others dispute these claims and criticize the treaty’s secret negotiations and copyright clauses.
****Tell Congress and President Obama that it’s outrageous to negotiate secret trade agreements behind closed doors.
Stop the TPP and TAFTA – the global Monsanto Protection Act on steroids! Every voice counts!
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