As the debates rage on and the U.S. gets ever closer to selecting a new President, it’s time once again to look at the opposing viewpoints on the TPP.
In getting to the bottom of the issues that matter, we bring you the main arguments for and against one of the most controversial provisions in the agreement – the Investor State Dispute Settlement and Investment Chapter.
We believe it’s important to look at this dense, far-reaching document from all applicable angles and engage in a healthy back and forth on the key issues that will affect Canadians if and when it comes into law.
For Canada, the agreement will likely result in an increase in both imports and exports, including products such as machinery, canola, beef, pork, minerals and seafood. Canadian companies will gain a competitive advantage over exporters from non-TPP countries who must still face the existing tariffs, while the same will be true for organizations importing goods to Canada.
As environmental groups and analysts make headway with reading through and analyzing the agreement, some groups have come out resolutely against the agreement, arguing that tying these economies together more tightly will make it harder to pass more stringent environmental relations in the future and expressing concern about the TPP’s failure to address climate change.
Though coverage of the top-level talks has been dominating the headlines, the actual meat of the negotiations remain shrouded in secrecy, only hinting at the issues that may be holding countries back from signing the deal (though Wikileaks has also leaked drafted sections of the deal). These secret TPP negotiations are starting to irk some of those involved.
Despite their loss in Congress this week, the vigorous opposition to TPP will continue when the actual treaty is finalized and presented to Congress for ratification. Is the TPP deal another giant sucking sound as former presidential candidate Ross Perot called the NAFTA agreement?
In the hopes of avoiding a drawn out or failed negotiation of the Trans Pacific Partnership (TPP), the U.S. Congress is negotiating legislation that would allow trade deals to be put on the fast track with few delays and even fewer amendments, also referred to as a trade promotion authority (TPA).
If you are worried about the possible effects of tariffs and trade wars on your international business you are not alone. Check out our #TradeElite Twitter chat recap below for insights from global trade experts.
What would happen if the United States decided to terminate NAFTA, and how can you prepare a NAFTA Plan B to handle the potential resulting scenarios?