Asia Pacific Trade Agreement Wiki

The agreement was designed so that it could finally create a new internal market, something like the EU`s. South Korea did not participate in the 2006 agreement, but expressed interest in joining the TPP[35] and was invited by the United States to the TPP negotiations after the successful conclusion of its free trade agreement between the United States of America and the Republic of Korea in December 2010. [36] South Korea already had bilateral trade agreements with some TPP members, but areas such as vehicle construction and agriculture still needed to be agreed, making multilateral negotiations on the TPP a little more complicated. [37] South Korea could join the TPP as part of a second round of expansion of the trade agreement. [38] Emily J. Blanchard argues that while the TPP has been severely criticized by the political left, progressives should support the TPP: “The TPP`s promise to create a new progressive regulatory framework – an agreement on child labour and discrimination in the workplace, measures to punish illegal logging and trade in protected species , as well as protection against consumer fraud – would be an essential step on the progressive agenda. [149] The original TPP was assumed by some that it would likely bring China`s neighbours closer to the United States and reduce its dependence on Chinese trade. [166] [167] [23] [24] [25] [184] [185] [186] [186] [187] [187] If ratified, the TPP would have strengthened American influence over future rules of the world economy. U.S. Defense Secretary Ash Carter said the adoption of the TPP was as valuable to the United States as the creation of another aircraft carrier. [23] President Obama argued that if we do not adopt this agreement – if America does not write these rules – then countries like China will.” [188] According to the Congressional Research Service, “many Asian politicians could interpret – well or not – a failure of the TPP in the United States as a symbol of diminishing American interest in the region and the inability to assert leadership… If the tPP fails to reach the conclusion, China could effectively allow China to develop regional rules on trade and diplomacy through its own trade and investment initiatives, which could create regional rules and standards that are less beneficial to U.S.

interests. [21] Michael J. Green and Matthew P. Goodman assert that “history will be merciless if the TPP fails… If Congress rejects the TPP, the attempt to negotiate a similar agreement in Asia would revive U.S. demands – and in the meantime, alternative rules such as the RCEP, which exclude the United States, are likely to be underway.