~~October 6, 2015~~
The United States, Japan and 10 other Pacific Rim nations on Monday, October 5, 2015, reached final agreement on the largest regional trade accord in history, teeing up what could be the toughest fight President Obama will face in his final year in office: securing approval from Congress.
Now the deal faces months of scrutiny in Congress, where some bipartisan opposition was immediate. That debate will unfurl against the backdrop of a presidential campaign in which populist anti-trade talk against the deal is already prominent.
“As it appears in … full read/full credit”
The Trans-Pacific Partnership (TPP) is a proposed regional regulatory and investment treaty. As of 2014, twelve countries throughout the Asia-Pacific region have participated in negotiations on the TPP:
Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States and Vietnam.
The proposed agreement began in 2005 as the Trans-Pacific Strategic Partnership Agreement (TPSEP or P4). Participating countries set the goal of wrapping up negotiations in 2012, but contentious issues such as agriculture, intellectual property, and services and investments have caused negotiations to continue into the present, with the last round meeting in Ottawa from 3 -12 July 2014. Implementation of the TPP is one of the primary goals of the trade agenda of the Obama administration in the United States of America.
~~TPP Trade Agreement Passed~~
The Young Turks
~~Published on Oct 5, 2015~~
The United States and 11 other countries have officially reached an agreement in the Trans-Pacific Partnership or TPP. If you’re thinking there is going to be more transparency now that they’ve reached a deal, think again. Cenk Uygur and Ana Kasparian of The Young Turks break down this historic agreement.
Read more here: http://www.theguardian.com/business/2…
“Trade ministers from 12 countries announced the largest trade-liberalizing pact in a generation on Monday. In a press conference in Atlanta, trade ministers from the US, Australia and Japan called the the Trans-Pacific Partnership an “ambitious” and “challenging” negotiation that will cut red tape globally and “set the rules for the 21st century for trade”.
The deal – in the works since 2008 – is a major victory for the US president, Barack Obama.
“This partnership levels the playing field for our farmers, ranchers and manufacturers by eliminating more than 18,000 taxes that various countries put on our products,” the president said in a statement.
“It includes the strongest commitments on labor and the environment of any trade agreement in history, and those commitments are enforceable, unlike in past agreements.”
While it still faces major hurdles, not least in Congress, the deal could reshape industries and influence everything from the price of cheese to the cost of cancer treatments. It is expected to set common standards for 40% of the world’s economy, become a new flashpoint for the 2016 presidential campaign, and could become a legacy-defining agreement for the Obama administration.”
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