Canada, 10 other countries to move forward on new TPP after U.S. withdrawal

[Independent voter]

I'm in favor of the TPP and wished the US hadn't dropped out of it. There's a lot of good reasons to support the TPP like it's a net gain for the US, it'll really help boost the poorer countries and it's good for world stability and defense.

Yes, there are always losers in any trade deal but overall it was a good deal.

So Japan, Australia and Canada are going ahead with TPP maybe the US will join up later. Or the way Trump is, next week he might announce were joining the TPP after all.






http://www.ctvnews.ca/business/canad...awal-1.3423572

Canada and 10 other countries agreed this weekend to re-evaluate the Trans-Pacific Partnership, the controversial trade deal that has been assumed dead since the U.S. pulled out in January.

However a Canadian group opposed to the TPP says the deal should not be revived.
Trade officials said the deal would change significantly without American involvement, although leaders from the 11 remaining countries are still figuring out what a revised trade plan would look like.

In its current form, the partnership requires U.S. participation before it can go into effect. But a revised TPP wouldn't be as simple as taking the U.S. out of the existing deal: each of the 11 remaining countries will have to re-evaluate its own trade needs absent of American involvement.

Ministers attending the Asia-Pacific Economic Conference (APEC) in Hanoi, Vietnam this weekend discussed taking another look at the terms of the deal. Officials from the countries involved, which include Australia, Malaysia, Mexico, and Singapore, among others, have agreed to present assessments to their leaders when they meet for an annual APEC summit in Vietnam in November, which will also include U.S. President Donald Trump, Russian President Vladimir Putin and Chinese President Xi Jinping.
Since the U.S withdrawal, Japan and New Zealand have been spearheading efforts to revive the deal. Both countries have ratified the agreement and moved forward on legislation related to the deal. But Canadian officials stress that even the countries most enthusiastic about the previous agreement understand that it must be significantly altered before it can move forward.
New Zealand Trade Minister Todd McClay said the remaining countries are open to others joining provided they accept the trade agreement's high standards on labour and environmental protection. He said the door remains open to the U.S., even after President Donald Trump withdrew from the pact in January, saying he prefers bilateral free trade deals.

Supporters of the agreement argue that opening the Canadian economy to foreign markets could benefit sectors including forestry, manufacturing and agriculture, especially production of canola, beef and pork. But there are also concerns about intellectual property provisions, including patent extensions, as well as the potential for job loss within Canada.

Sujata Dey, trade campaigner for the social action organization The Council of Canadians, called the TPP "a huge corporate power grab" that should be abandoned completely rather than re-worked. The group takes particular issue with the policy's investor-state dispute settlement, which allows companies to sue governments over any regulations that reduce their profits.

"These trade agreements are old-school because our world problems have changed," Dey said, citing environmental crises. "Until we stop copying and cutting the old trade agreement that we've been doing for the last 30 years, it's not going to be a trade agreement that works for our new reality."

In response, a Liberal government official who did not want to be named indicated that the concerns of Canadians will be taken into account in formulating a new deal. Trying to sell a new version of the TPP to the public that doesn't include free and progressive fair trade would be an uphill battle for the federal government, he said.

The China-led 16-member Regional Comprehensive Economic Partnership will meet Monday in Hanoi to further discussions on a separate deal seen as an alternative to the TPP. It is expected to be finalized by the end of this year.

[NED funded]

Net gains for the US are minimal (like NAFTA), hence why it was pushed as a IR policy plan to set new rules for international trade(More labor safety, IP protection, etc) , since the ones by the WTO are shite. ( see china)

[breadisfunny]

hopefully the u.s. pulls out of nafta as well.

[caervek]

Has he said anything about killing TTIP? or is that disgrace still on?

[Shadowferal]

The TPP was a disaster in the making...
No one gives a shit about boosting poorer countries at their own country's expense. And the one paying the biggest cost would have been US workers.
Those getting the biggest benefits are multi-national companies pushing slave wages...

[NED funded]

The good thing about this is that it should shut up people that were against the TPP on the (insert 3rd world country) behalf.

[Bullettime]

The TPP was a disaster in the making...
No one gives a shit about boosting poorer countries at their own country's expense. And the one paying the biggest cost would have been US workers.
Those getting the biggest benefits are multi-national companies pushing slave wages...

The problem is more that the TPP needed to be adjusted, not killed. By backing out entirely and ripping it up, all we've done is give China a free pass to increase their economic power.

It gives them a lot more power and leverage in our eventual confrontation and a trade deal like the TPP is critical long term economically, militarily, and for our overall foreign policy. If not replaced, it's going to backfire against the US incredibly hard 20-30 years down the line.

[GennGreymane]

How many people actually read TPP?

[Azadina]

The TPP was a disaster in the making...
No one gives a shit about boosting poorer countries at their own country's expense. And the one paying the biggest cost would have been US workers.
Those getting the biggest benefits are multi-national companies pushing slave wages...

There are long term gains for doing so. More than "boosting" them by dropping expensive bombs all over them anyway.

[Bullettime]

There are long term gains for doing so. More than "boosting" them by dropping expensive bombs all over them anyway.

TPP could also be considered an investment. While the terms of it may not have been favorable even to Democrats, revision over repeal in this case. It was an investment into keeping the US's market and economic power greater than China's going forward by beating them to the punch with longterm trade agreements.

Without something like that in place, China has free reign to move in and greatly increase their own sphere of influence.

[GennGreymane]

TPP could also be considered an investment. While the terms of it may not have been favorable even to Democrats, revision over repeal in this case. It was an investment into keeping the US's market and economic power greater than China's going forward by beating them to the punch with longterm trade agreements.

Without something like that in place, China has free reign to move in and greatly increase their own sphere of influence.

China thinks ahead, the US does not. This is an issue.

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The US is only capable of thinking ahead in 1 industry, the military. China not only things ahead in terms of their military, but in various other fields.