Should the United States ratify the TPP? | The Tylt
The Trans-Pacific Partnership (TPP) has come under intense fire for being a bad deal. Bernie Sanders, Donald Trump and Hillary Clinton have all gone on record opposing it.
What is the TPP?
The TPP is a free trade agreement (an agreed-upon set of rules for trade) between twelve Pacific Rim nations. In a nutshell, the agreement makes trade easier between member nations, adds stronger intellectual property protection, raises labor and environmental standards in all member nations, and creates a formal way for corporations to sue governments.
Why are people opposed to it?
Critics of TPP say that the agreement was made in secret by corporate lobbyists and corrupt politicians. They argue that this is not the correct venue and format to create far-reaching policies.
They also say that there’s no way for members to enforce the new standards. There’s nothing to stop a member nation from simply saying they won’t comply.
On the intellectual property front, critics say the new regulations are directly opposed to how the internet works. Remixing content would become illegal and could stifle creativity and innovation.
Along those same lines, the TPP would give pharmaceutical companies the right to prevent generics from coming onto the market for at least eight years in member nations. People say this keeps life-saving drugs from those who need it, and only serve to make the rich richer.
Finally, critics are questioning if it’s a good idea to give corporations the ability to sue states for lost profits. Countries have the right to regulate as they see fit—creating a tribunal that supersedes governments makes corporations even more powerful.
But is the TPP really a bad deal for America?
One of the biggest arguments in favor of the TPP is the trade agreement will cement the United States' position in Asia by reducing member nations' reliance on trade with China. If the United States does not take the lead here, China would most likely step up to write the rules for trade in the region.
Many of the proposed regulations in the agreement are already in place in some form within the member nations. What the TPP does is level the playing field for all members, making it easier to trade and conduct international business.
What do you think?
Should the United States ratify the TPP?
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