what was the TPP
designed to do?
Not a lot of people know
what TPP stands for. TPP also known as Trans-Pacific Partnership are twelve
countries that border the pacific ocean TPP is expected to eliminate tariffs on
goods and service. So how big is the TPP? The twelve countries include,
Australia, Brunei, Chile, Malaysia, Mexico, New Zealand, Canada, Peru,
Singapore, Vietnam, Japan and Of course the U.S.. These 12 countries the
Biggest and fastest growing commercial partners, It counted for 1.5 trillion
worth of trade in goods in 2012 and $242 billion worth service in 2011, it also
Makes up roughly 40% of the world’s economic output.
http://www.speaker.gov/general/myth-vs-fact-setting-record-straight-trade-promotion-authority
1.5 trillion worth of trade goods is an amazing amount. I cannot even begin to wrap my head around that number with so much trading going on around with other trade sections as well. I thought this was very enlightening. Thank you for sharing!
ReplyDeleteSadly the full elimination of tariffs has not come into play among the partnership. What has the US lost and gained by turning against the TPP after so many years of being a part of its creation?
ReplyDelete