The TPP?
Based in President Obama's shift toward Asia, the TPP was set to become the largest free trade deal in the world, encompassing nearly 40% of the global economy. For those in favor, the trade partnership would have vastly increased U.S. influence and investment abroad, increasing economic growth while creating new jobs. Those in opposition saw the shift as a move that would decrease American jobs and manufacturing.
Background:
- The beginning of the TPP started in 2005 when Brunei, Chile, New Zealand and Singapore initiated a trade agreement. In 2008, when President Bush showed interest in joining the agreement, that pushed other regional countries to consider as well.
- The agreement became under threat in the presidential election, while Donald Trump removing the U.S. from the agreement in 2017.
- The TPP includes covering tariffs, intellectual property rights, labor and environmental standards, dispute resolution mechanisms, and other aspects of trade.
- The goal of the agreement was to ensure that the United States was writing the rules of global trade and not other actors like China.
- Some of the main provisions are outlined below.
- Reduction / elimination of tariffs. The estimated total tariff reduction for member states was 98%.
- Investment Rules. The TPP added increase rules to protect investors and regulate investment practices among the parties.
- E-commerce regulation. The TPP is the first regional trade deal that outlines specific rules regarding e-commerce.
- Intellectual property protections. The TPP also includes extensive protections for IPP, including copyright terms, and protections for biologics.
- Many think tanks and experts believed that the TPP would have boosted the U.S. economy
- The TPP also offered numerous geostrategic advantages, including bolstering relationships with regional actors. Moreover, the TPP would strengthen the relationship between Tokyo and Washington.
- Many experts also argued that the TPP would have increased environmental, labor, and ethical standards in many developing countries.
- During the 2016 election, Trump criticized the deal, arguing that many jobs would be pushed overseas and increase the trade deficit.
- The CPTPP, the agreement that countries created following the removal of the United States, continues many of the standards outlined in the TPP. However, there are large differences.
- The biggest shift was the decrease in the amount of time IPP was under copyright.
Additional Resources:
Potential Debate Resolutions:
This House regrets the development of global free trade.
This House, as the United States, would reenter the TPP.
This House regrets the formation of free trade deals, like NAFTA and the TPP.
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