Trans Pacific Partnership Pros And Cons

As the world embarks in an era of advancement in international communications, it surely opens up gateways to the formation of international relations. International communications has in other words, led to the establishment of beneficial trade links in hopes to strengthen either country's economy. The Trans-Pacific Partnership otherwise known as the TPP, is primarily an agreement made by several countries in order to allow a free trade of capital, goods and services. It permits them to flow without the quotas, tariffs and taxes which are used to protect a country's domestic industries from external competition. As of 2015, the TPP consists of 12 countries and represents $28.5 Billion of the world's gross domestic product (GDP) (The Government …show more content…
The focus of this paper will be on the economic view of both international and domestic relations regarding the TPP.

As for Canada, the TPP is an additional partnership to its initial NAFTA agreement; the North American Free Trade Agreement, signed by Canada, the United States and Mexico in 1994 (The Government of Canada, 2016). The Trans-Pacific Partnership has similar free trade agreements as the NAFTA, but simply involves a greater array of countries that long the pacific coast. In addition, the TPP further includes agreements such as; cultural protections, increased corporation protection, free flow of information, copyrights and trademarks, patents and drug costs, etc…. (Sinclair & Trew, …show more content…
The Trans-Pacific Partnership is therefore a great involvement for Canada. It gives the country access to free trade with stable economies, countries whom acquire Canada's major imports. This also allows for lower import prices for our higher consumerist country and will in result, raises Canada's income level as well as raises standards of living in the long