The Trans Pacific Partnership Agreement Essay

786 Words Oct 16th, 2015 4 Pages
One of the most anticipated deals being made and discussed is the Trans-Pacific Partnership. This partnership is between twelve countries including Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States, and Vietnam” (Agreement 1). “The negotiation process has been going on for nearly a decade, and if established, would be among the largest trade deals in history” (No labels 1). “The countries involved in this trade account for nearly 1/3rd of the world 's trade” (No Labels 1). Many questions can be asked about this deal and what the countries are discussing and trying to approve entails.
First of all things to be asked is what this deal is trying to accomplish. “The TPP would lift tariffs and quotas, creating a free-trade policy between the involved nations” (No Labels 1). Tariffs protect suppliers from being undercut by other countries. This deal does not include China or India which will improve the economy of the smaller countries that are included. The tariffs on goods used between these countries range from a broad spectrum. Regulations need to be put into this deal to keep it secure and safe. “The largest regulation to be set will be labor laws and environmental standards in Asia” (No Labels 1). The deal has been very secretive and information is limited to know how countries are acting and what is actually going on. With all of the hype for news on this deal people are wondering what the pros and cons…

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