The Trans Pacific Partnership Agreement Essay

1420 Words Oct 6th, 2016 6 Pages
The Trans-Pacific Partnership agreement (TPP) is an agreement involving 12 nations in the Pacific Rim. Although not yet ratified, this free-trade agreement (FTA) is a significant and purposeful step in the international cooperation of these 12 nations. It is an extension of the Trans-Pacific Economic Partnership (TPSEP), an agreement among four nations, which involves three of the nations that signed the TPP: Singapore, New Zealand and Brunei. This is the first trade agreement of the 21st century and it is ready to make a big impact in the world’s economy. This agreement will be successful in the region by “reducing and eliminating tariffs, fostering competition, and creating greater opportunities for businesses” (Coyle). They also, “agreed to promote environmental protection practices and enforce laws protecting workers” (Coyle). With all the societal, technological and globalized changes that have occurred since the last major trade agreement—the North American Free Trade Agreement (NAFTA)—this FTA is more than just important, it is critical in establishing an economic and political relationship between these 12 nations. There are significant statistics that elicit the importance of this FTA in that, “the signatories comprise nearly 40 percent of global GDP, a market of more than 800 million people, and around one-third of world trade” (Sethi). These numbers prove that the agreement does not solely benefit the United States. It also benefits the other 11 nations included…

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