TRANS PACIFIC PARTNERSHIP IS NOTHING WITHOUT USA


01/12/2016




According to Reuters, Japan's Prime Minister Shinzo Abe said The Trans-Pacific Partnership (TPP) would be meaningless without U.S. participation, regarding President-elect Donald Trump’s sayings about withdrawing TPP. In his campaign Trump promised to pull out of the deal which is a job-killing "disaster’’ and repeated this in his recently revealed video about his first 100 days in the Oval Office.TPP is a trade agreement among twelve of the Pacific countries, except China. The final proposal was signed on 4 February 2016 in Auckland, New Zealand after long negotiations for 7 years. Agreement foresees economic growth, creation and retention of jobs, innovation, productivity, rising competitiveness and better living standards. Also, states promised to promote transparency, enhancelabour and environmental protections. The TPP contains measures to lower both non-tariff and tariff barriers to trade. Besides treaty includes establishment of a dispute-settlement mechanism between regarding states and investors.

 


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