Benefits Of Trans-Pacific Partnership

724 Words 3 Pages
Jamie Moran
Political Science 270
Analytical Paper: Spring 2016
May 18th 2016
Trans-Pacific Partnership What is the Trans-Pacific Partnership and how does it benefit Americans? Should people support the Trans-Pacific Partnership or will it affect them greatly? These are all important questions that Americans need to ask themselves when looking into the Trans-Pacific Partnership. To answer the first question briefly the Trans-Pacific Partnership or TPP for short is basically a giant free trade deal between United States, Canada, and 10 countries (Australia, Japan, Malaysia, Mexico, Peru, Vietnam, Chile, Brunei, Singapore, and New Zealand)
That is in the Asia-Pacific region that has been under negotiation for nearly a decade now. It is expected
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Parker on Stanford news, “Stanford economist Micahel Boakin says the proposed Trans-Pacific Partnership should expand trade and increase growth in the U.S, but some businesses and workers may encounter stiffer competition from imported goods.” The benefits of the TPP would bring to the U.S economy, businesses, and workers would be a higher growth in income, greater efficiency and lower cost and increased variety for consumers. One of the many actions that the TPP would do is eliminate many tariffs and if the TPP is ratified and implemented by the parties with minimal slippage, “reduce non tariff barriers such as excessive red tape and protection of stated owned enterprises, which enables American firms and their workers to expand exports to these markers. One state that benefits a lot is California because it plays a central role in regards to trade with Asia, from goods and services. However, with everything there is always a downside. With the TPP the downsides consist of potential complications if two or more sides want to trade and agree to the trade then it would be better off but if one side refuses to trade then the complications would arise. Also, some small losses in trade liberalization would be towards firms and workers since they will have to face greater import competition. This could be solved with the Trade Adjustment Assistance program, which can relocate the firm. According to the United States Trade Representative, “TPP is a platform for engagement and growth in the Asia-Pacific Region. It solidifies relationships with our allies and firmly establishes the United States as a leader in the Pacific,” it also promotes jobs and growth in the U.S because it levels the playing field for American workers and American businesses, leading to more made-in-America exports and more higher paying American jobs

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