Trans-Pacific Partnership Free Trade Agreement

Trans-Pacific Partnership Free Trade Agreement.

Trans-Pacific Partnership Free Trade Agreement

There are various trade agreements between countries around the world. One of such is the Trans-Pacific Partnership (TPP). TPP is an enormous trade accord between the United States, Canada, and ten other countries largely comprised of Asian-Pacific countries that have been under negotiation for the past decade (Lydia DePillis, 2013). The idea behind TPP was to remove levies on goods and services among host member countries (Lydia DePillis, 2013). The ratification of the trade agreement, however, hangs in the balance as the Congress debates on a number of contentious issues that have been raised such as; TPP overlooks human rights violation, allows climate change to go unchecked and it allows currency manipulating countries to kill jobs in the U.S.

The U.S. Congress should not ratify the trade agreement as it allows currency manipulating countries like China which intentionally undervalue their currencies to defraud U.S. manufacturers and undermine any benefits from tariff reductions. Secondly ratifying the deal would allow climate change unchecked as the agreement does not entail any commitment fees or border fees that are enforceable to offset the cost of environment-damaging imports. Moreover, corporations of member countries would move to countries with weaker climate policies which is what U.S has been trying to protect (AFI-CIO, 2016). Lastly ratifying the agreement would turn a blind eye to human rights violation as some member countries such as Vietnam and Malaysia have been linked to some heinous acts of human violation such as jailing political dissidents and human trafficking (Public Citizen, 2016).

In conclusion TPP is a platform for growth in the Asian- Pacific region thus solidifying the relationship between the U.S with its allies in Asia, TPP also opens more opportunities for all American workers and businesses thus leading to more exports and higher incomes and it is also a platform for U.S to advance its values and help build a global trading system (Ustr.org, 2016). Hence before ratification in the current form of the agreement changes should be made to address the contentious issues.

 

 

References

DePillis, L. (2013, December 13). Everything you need to know about the Trans-Pacific Partnership. The Washington Post. Retrieved from https://www.washingtonpost.com/news/wonk/wp/2013/12/11/everything-you-need-to-know-about-the-trans-pacific-partnership/

AFl-CIO. (2016). Ten Critical Problems with the Trans-Pacific Partnership. Retrieved from http://www.aflcio.org/Issues/Trade/Trans-Pacific-Partnership-Free-Trade-Agreement-TPP/Ten-Critical-Problems-with-the-Trans-Pacific-Partnership

Public Citizen. (2016).The Trans-Pacific Partnership: Undermining Human Rights. Retrieved from http://www.citizen.org/Page.aspx?pid=6587

Ustr.org. (2016). What is the TPP? Retrieved from https://ustr.gov/tpp/#text

 

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Trans-Pacific Partnership Free Trade Agreement

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