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Trans-Pacific Partnership Discontinued
The Trans Pacific Partnership, or “TPP”, is a trade deal to open trade with several pacific rim coast countries and the United States. Over the last fifteen years, trade deals have been one of the focal issues within the political economical debate. Trade deals are essentially agreements between two or more countries to more “freely trade” with each other. These deals are a hot topic in contemporary politics. Proponents of the Trans-Pacific Partnership claim it helps American exports by lowering the prices on goods, while opponents of the partnership say that it ships away American paying jobs to cheaper overseas labor.
Countries Involved In TPP
The TPP Explained
The trade deal is aimed to ease trade relations with countries in the pacific rim, while also making the United States more competitive with trading giant, China. One provision of the deal is to lower tariffs between the countries involved, essentially creating a free-trade zone. For example, many of Japans tariffs are in the double-digits for products including beef, different kinds of cheeses, and oranges during the winter months. The Trans-Pacific Partnership aims to cut or eliminate tariffs all across the spectrum of countries included in the deal, excluding the more sensitive products. This would allow for more flexibility and deeper trade relations among the countries involved.
Countries like Vietnam have extremely low labor and environmental standards, and the United States wants to put all countries involved on a level playing field. Making countries instill a minimum wage, adhere to certain environmental standards, and supervise the protection of intellectual property benefits all party's involved and allows for fairer trade. Data flows between countries and restrictions on services were to be eased and deregulated within the Trans-Pacific Partnership as well.
Do you support the Trans-Pacific Partnership
Trans-Pacific Partnership Shapes 2016 Election
Many lawmakers have praised the bill saying it would be a boom for American business by increasing American exports. Hillary Clinton has said before the Democratic primary season that the TPP is the gold standard of trade deals, so why is the bill being discontinued? The public did not take news of a new trade deal very well. Using previous trade deals such as NAFTA (North American Free Trade Agreement) as a barometer, middle class workers have expressed that one of those exports to other countries is jobs.
There were two candidates during the entire election season that made it a point to openly oppose the Trans-Pacific Partnership, Senator Bernie Sanders and Donald Trump. After Sanders lost to Hillary Clinton in the Democratic primary, Donald Trump was the only candidate left that was vehemently against the Trans-Pacific Partnership and trade deals overall. Hillary Clinton opposed the trade deal during the primary and general election, but she had previously supported it. Leaked emails from her campaign manager ,John Podesta showed that she had never stopped supporting it. The public's support of his populist policies and the middle class's disdain for trade deals has lead to Donald Trump being elected.
Trans-Pacific Partnership Defeated
Soon after his victory, Congressional Republicans have announced that the bill will not get passed through a lame duck congress and will most likely never come into fruition. President-elect Trump has repeatedly said that he wants to negotiate a “better deal”, however he has not publicly stated which new provisions he would be negotiating. The public is also not fond of other trade deals, as these deals are believed to ship American jobs oversea at the expense of the American worker.
People are unsure what is to become of our old trade deals like NAFTA or ones still in the making, such as TTIP (Trans-Atlantic and Investment Partnership). Companies like United Technologies and Cardone have been moving their factories across seas for cheaper labor at the expense of the American worker. The public wants companies to keep their plants here and employ American workers. What we can expect is government leaders that are going to heed the warnings of the American Electorate about their concerns with these deals giving away their jobs, or they will soon find out the American public will give away their jobs too.