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Trans Pacific Partnership details released

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2015-11-05

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The details of one of the most ambitious free trade deals in history have been released . For more on that‚ Bruce Harrison joins me now in the studio. Bruce‚ the Trans Pacific Partnership would free up commerce in 40 percent of the world's economy. Hello Connyoung. It's a massive deal‚ and now the governments' of the 12 countries that agreed to it can sift through its pages and decide if they want to approve the deal. U.S. President Barack Obama has been the driving force behind the TPP but he's struggled to gain support among U.S. lawmakers‚ both Democrats and Republicans. Even though Obama says the deal would allow the U.S. to challenge China's economic rise and growing political influence‚ it appears there are more skeptics than supporters in Congress. In the U.S. and the other Pacific Rim countries reviewing the deal‚ it's really going to come down to what's in the fine print. For example‚ details on local content thresholds for the auto industry are unclear. And U.S. footwear importers are also waiting to see how long duties would remain in place. The Hill reports the White House has it's work cut out. It'll need to assure Democrats that chapters on labor and environment are the strongest ever negotiated‚ and the deal won't lead to job losses like previous agreements. Factory and export economies like Malaysia and Vietnam would benefit largely from the deal‚ due to the perks that would be created by tariff elimination. Just getting to this point has been rocky. Transparency advocates have been angry because the details were largely kept secret‚ despite the deal's broad implications. Reporter : harrison.j.bruce@gmail.com

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