Trans Pacific Partnership

Trans Pacific Partnership

The Trans Pacific Partnership is a trade agreement amongst 12 Pacific Rim countries including: Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, United States, and Vietnam. This partnership is believed to help benefit each of the nations involved. However, I believe that America will benefit, if not the most, greatly from the partnership for several reasons. The Trans Pacific Partnership claims they will support Made-in-America exports, enforce fundamental labor rights, promote strong environmental protection, and help American small businesses benefit from trade (RP Siegel). America’s economy will greatly benefit from exporting more goods and promoting small businesses. It will directly benefit national corporations and boost the American economy. The Trans Pacific Partnership aims to increase wages, cut costs, and improve the quality of goods. Most products today in America are imported. When looking at the products I buy online or in stores they are often made in other countries. I believe that increasing exports from the U.S. will help our economy.

Further it will also help countries like Japan and Vietnam who are large agricultural countries with protected economies. The influx of trade will increase the flow of their economy and boost production. The Trans Pacific Partnership is expected to lower trade and investment barriers. Free market economies are suspected to have the smallest benefits such as, Singapore, Australia, and New Zealand (dw.com). Although these countries will not benefit as greatly as others they will see economic growth. I believe the Trans Pacific Partnership will overall benefit each of the nations involved in varying ways and in different parts of their economy.

References:

http://www.triplepundit.com/2015/03/will-benefit-trans-pacific-partnership/

http://m.dw.com/en/the-pros-and-cons-of-the-trans-pacific-partnership-pact/a-18597149

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Trans Pacific Partnership

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