TPP: What You Need To Know

                           (Photo: J. Calgary, flickr)

                            by David Parmer

As of early October 2015, negotiations for the Trans Pacific Partnership (TPP) free trade deal are heading for a conclusion. Negotiations have been proceeding since 2010, so this will be a big occasion if the deal reaches an agreement.

Maybe you have seen the initials TPP in the headlines, and even seen some robust protests against the agreement on TV without understanding what it was all about. Here is a short introduction that might make all things TPP a bit more clear.

What: The Trans Pacific Partnership is a multi-lateral free trade agreement. It is intended to bring integration among the participating Pacific Rim nations.

Who: The countries party to the TPP are,

• Australia
• Brunei Darussalam
• Canada
• Chile
• Japan
• Malaysia
• Mexico
• New Zealand
• Peru
• Singapore
• United States
• Vietnam

Purpose: To create increased exchange of goods and services by creating the premier 21st century free trade agreement. TPP has provisions for labor rights and labor practices, and it aims to eliminate tariffs on goods and services. It also aims to harmonize the regulatory framework for companies that work in various countries.

Objections: There are a long list of objections that opponents to the TPP give. These include,

• The TPP benefits only the wealthy and corporations
• Corporations will be able to sue governments, thus degrading environmental protection legislation
• Jobs will go off shore and be lost
• GMO labeling will be undercut
• The US will increase export of fossil fuel obtained by fracking
• Negotiations are secret and not transparent

Sticking Points: The question of intellectual properties is reported to be a big point of contention. Also the question of state enterprises poses a problem for some members.

Bottom Line: There seems to be a good chance that the agreement will be passed in the autumn 2015 Atlanta meeting. If so, will this be the end of the story, or will opponents find other means to express their opposition to the deal of the century? We should know soon enough if there is another chapter in this story and if the TPP is everything good that proponents say it is, or if it will bring the negative consequences that opponents fear.