Before modern day trade agreements for the Pacific Rim countries, there was the Asia Pacific Economic Cooperation, which was a model for the New Zealand/Singapore Closer Economic Partnership. This led to the making of The Trans Pacific Strategic Economic Partnership Agreement. These renowned economic agreement between various countries in the Pacific were the rough drafts for the current trade agreement. The influence of these successful economic strategies pacts leads the Pacific Ocean border nations to today 's agreement, The Trans Pacific Partnership. The Trans Pacific Partnership is a supposed free trade agreement between 11 countries. According the New York Times, these countries have an “annual gross domestic product of nearly $28 trillion
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The Trans Pacific Partnership has benefits for the economy, agriculture, and manufacturing. This agreement would lead to and end of copious amounts of high taxes on American products. “The Office of the United States Trade Representative said it eventually would end more than 18,000 tariffs.” (Calmes). More positives of the new pact reported by Office of United States Trade Representative are that the TPP provides new and commercially meaningful market access through significant tariff reductions, requires TPP countries to eliminate all agricultural export subsidies, discourages countries from imposing export restrictions, and many more. The White House claims that protect a free and open internet, protect consumers from fraud and deception, require comprehensive anti-corruption and transparency measures, and help simplify export rules for small businesses. On the other hand, some downfalls of the agreement are that the pact could “expose America to offshore American jobs and increase income inequality, expose the U.S. to unsafe food and products, and roll back Wall Street reforms” (Public Citizen). This list directly clashes with the views of The White House and the President. There are many supporters and opposers of the the trade comprise. Since there are a lot of secrets about the union, there is room for misinterpretation and fear. Only more time will tell and prove either side of the
The Trans Pacific Partnership has benefits for the economy, agriculture, and manufacturing. This agreement would lead to and end of copious amounts of high taxes on American products. “The Office of the United States Trade Representative said it eventually would end more than 18,000 tariffs.” (Calmes). More positives of the new pact reported by Office of United States Trade Representative are that the TPP provides new and commercially meaningful market access through significant tariff reductions, requires TPP countries to eliminate all agricultural export subsidies, discourages countries from imposing export restrictions, and many more. The White House claims that protect a free and open internet, protect consumers from fraud and deception, require comprehensive anti-corruption and transparency measures, and help simplify export rules for small businesses. On the other hand, some downfalls of the agreement are that the pact could “expose America to offshore American jobs and increase income inequality, expose the U.S. to unsafe food and products, and roll back Wall Street reforms” (Public Citizen). This list directly clashes with the views of The White House and the President. There are many supporters and opposers of the the trade comprise. Since there are a lot of secrets about the union, there is room for misinterpretation and fear. Only more time will tell and prove either side of the