The Trans Pacific Trade Agreements Essay

808 Words Oct 9th, 2015 4 Pages
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 that represents roughly 40 percent of global G.D.P. and one-third of world trade.” (Granville) It is the largest trade accord in history. The nations in the pact are expected to change their domestic laws and policies to what the arranged agreement states. TPP is said to be useful in boosting America 's economy and increasing more exports rather than increasing imports. “The United States is eager to establish formal trade agreements with five of the nations involved — Japan, Malaysia, Brunei, New Zealand and Vietnam — and strengthen Nafta, its current agreement with Canada and Mexico.” (Granville) The pact deals with issues like tariffs, quotas, environmental, labor and intellectual property standards, data flows, etc. The nations…

Related Documents