TPP seen as doomed after Trump victory
The Trans-Pacific Partnership deal – that would have created the world’s largest free-trade zone – is all but dead, now that the Obama administration has given up hope of a last-ditch effort to ratify it amid a rising tide of protectionism.
A former senior adviser to Prime Minister Justin Trudeau is calling on Canada to shift focus and try to negotiate free-trade deals with Japan and other Asian countries.
Departing U.S President Barack Obama had been determined to win an uphill fight to get congressional approval of the deal during the lame-duck session in the final weeks of 2016. That was before Donald Trump, a fierce opponent of the TPP, won the presidential election Nov. 8.
New York Senator Chuck Schumer, soon to be the senior Democrat in the U.S. Senate, told labour leaders this week the Trans-Pacific accord will not be ratified by the U.S. Congress. The Washington Post reported that Mr. Schumer was relaying statements made to him by Republican Congressional leaders in the wake of the Trump victory.
The Canadian government declined to comment on the fate of the TPP Friday, with a spokesman for International Trade Minister Chrystia Freeland saying the Liberals will continue to seek the opinions of Canadians on the deal.
The pact, however, will mean little for the 11 countries that negotiated it without the participation of the largest economy: the United States.
“We made a commitment to consult Canadians on the Trans-Pacific Partnership, and we will abide by that commitment,” Alex Lawrence, press secretary for Ms. Freeland, said in a statement. “The House of Commons trade committee is studying the TPP’s impact, and has not concluded its consultations; we will continue to support this work.”
Read the rest of the full article here: http://www.theglobeandmail.com/news/politics/tpp-seen-as-doomed-after-trump-victory/article32831222/
Make sure to follow this profile @contentjunkie to stay up to date on more great posts like this one.
THANK gOD.
The World Enslavement Project has been halted. Good News.
I don’t believe it for a second, Trump has singed no documents or contracts that he will not follow through on the TTP, in fact as a business man he is most likely to do the trade deal now, but they might change the name to confuse everyone.
The Public still don’t get it you can’t change the system by voting, he might have been the lesser of 2 evils but he will do what the shadow government wants or face a JFK exit.
tpp didn't benefit trump enough. he will rattify it a lot or just start over. tpp would make some industries practically invincible and those industries, like natural resources and manufacturing are not Trumps big focus. He needs a deal that makes his business invincible. We will see how it changes, it will change without a doubt and that could be a great thing for plebs. trump makes money from plebs by hook or by crook he needs them to have money so he can get it from them.
This post has been ranked within the top 50 most undervalued posts in the first half of Nov 12. We estimate that this post is undervalued by $6.85 as compared to a scenario in which every voter had an equal say.
See the full rankings and details in The Daily Tribune: Nov 12 - Part I. You can also read about some of our methodology, data analysis and technical details in our initial post.
If you are the author and would prefer not to receive these comments, simply reply "Stop" to this comment.
Good, fuck the TPP.
Excuse my language on this one, but I really don't feel good about these huge multinational trade deals.