Wednesday, October 25, 2017

As President Donald Trump ended the United States Participation in the Trans-Pacific Partnership, a huge trade pact five years in making among countries representing 40% of the world economy. President Donald Trump removed the United States from participating his first day in office. Japanese told the "Financial Times" that Tokyo is ready to carry the TPP forward in the same form it was in when Donald Trump killed it. Japanese trade officials said "We will start talks on an eleven-member TPP, minus the US."



https://www.nytimes.com/2017/07/14/business/trans-pacific-partnership-trade-japan-china-globalization.html

2 comments:

  1. What do you all think about the agreement? If 18000 different tariffs were negotiated away for the US, how will the lack of US participation affect trade between the US and these 11 other countries?

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  2. I feel like there are a lot of decisions made around the world right now, that are rushed and should have been discussed more before actually taking action. President Trump has announced leaving many agreements (i.e. NAFTA, even if this did not happen). Looking just at the headlines and typing "USA leaves" into google, gives a scary impression of what could be possible in the future. Agreements do have their pros and cons, but for most of them the pros outweigh the cons, which is why we have them. Leaving the TPP, and being a major trading partner to most of the member states does not sound like a good or thought threw idea. Negotiation without the US will not only cause tariffs within the US, that other countries are not willing to bear, but also tariffs among the other 11 countries, that might keep the US from trading on the same level as today. Not participating in these negotiations sounds more like a disadvantage to me, than leaving the TPP as an advantage.

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