What Is the Tpp Agreement

The TPP Agreement, also known as the Trans-Pacific Partnership, is a trade agreement between 12 countries that was signed in February 2016. Its main goal is to deepen economic ties and increase trade between member countries, which collectively make up 40% of the world`s GDP and about one-third of global trade.

The countries involved in the TPP Agreement are Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States, and Vietnam. Negotiations for the TPP began in 2008 and were finally concluded in 2015, after numerous rounds of negotiations and meetings.

One of the key features of the TPP Agreement is its focus on reducing tariffs and other barriers to trade between member countries. This is expected to lead to increased trade and economic growth for all member countries, as well as greater access to new markets and investment opportunities.

The TPP Agreement also includes provisions related to intellectual property, labor rights, and environmental protection. For example, member countries are required to provide minimum standards for labor rights and environmental protection, and also must enforce strong intellectual property rights.

Critics of the TPP Agreement argue that it gives too much power to large corporations and could undermine public services and labor protections. They also argue that the agreement could lead to job losses in certain industries, particularly in the United States.

Overall, the TPP Agreement is a complex and controversial trade agreement that has both supporters and opponents. It remains to be seen how the agreement will affect the economies and people of member countries, and whether its benefits will outweigh its potential costs.