Wednesday, November 16, 2016

TPP is almost dead

There may be several policies expected to be altered after Donald Trump seats the President of the US. One of the issues with certainty and cruciality is Transpacific Partnership (TPP).

TPP is an international coalition regarding trading with reduced taxation and non-taxative barriers. It is expected to promote domestic industries in each member for enhanced demand of exporting.

However, TPP is criticized in several aspects. For example, many Japanese farmers are opposing it because cheaper food imported from foreign countries will threaten domestic products. Also, lawsuit cases of intellectual rights will be increases following the enforcement of TPP, according to some lawyers.

The greatest member of TPP is the US, needless to say. The US seemed to open the gate to export their massive products not limited to agricultural commodities but also intellectual properties.

It is suspected, however, that the US itself is planning to withdraw TPP. So far, Democratic Party was opposing TPP because of its policy to protect domestic labors. Hilary Clinton was also reluctant to support TPP.

On the other hand, Republic Party is welcoming to free trade as a principle. According to their belief, TPP is to be respected, I think. However, Donald Trump, and some other Republicans are against TPP, claiming it will destroy domestic industries.

Sydney Morning Herald: TPP: Trans-Pacific Partnership dead, before Trump even takes office

Then, the US is unlikely to ratify TPP finally. Meanwhile, the Japanese government passed the bills related TPP through widespread criticism of opposing parties. It looks like a black joke.

I am supporting TPP, not only for tree trading policy, but also for it will be a counter to China. China has great potential in the world trade. But it tends not to accept Western ruling such as copyright. If the US takes a tough negotiation with China, TPP will be a powerful weapon, I think. Unfortunately, Trump seems not think so.

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