Details of the proposed Trans-Pacific Partnership (TPP) trade agreement have been released by the 12 nations that signed its terms on Oct. 5, 2015, after seven years of negotiation.
The TPP would be one of the largest trade deals in decades. Among its many features, it is being touted as removing 98% of the tariffs between the 12 signatory countries that represent many of the biggest and most advanced countries on the Pacific Rim, including Canada, the U.S., Mexico, Peru, Chile, New Zealand, Australia, Singapore, Malaysia, Brunei, Vietnam and Japan — with the notable exceptions of China as the world’s second-largest economy, as well as South Korea, Russia, and emerging economies in Southeast Asia and elsewhere.
The preamble to the TPP document states the goal is to establish a comprehensive regional agreement that promotes economic integration to liberalize trade and investment, bring economic growth and social benefits, create opportunities for workers and businesses, raise living standards, benefit consumers, reduce poverty and promote sustainable growth.
The deal still needs to be ratified by all 12 member countries — which could take at least a couple of years.
Mining industry associations and other mining proponents in Canada and beyond supported the TPP as soon as the deal was announced in October, and little has changed now that the details — all 30 chapters and 6,000 pages’ worth — are available online.
Most metals and minerals moving between the 12 countries already have low or no tariffs. There are plenty of little-known exceptions though, with the TPP lifting tariffs such as 11.7% on Japanese metals and minerals, 40% on Vietnamese iron and steel, and 50% on Malaysian chemical products.
More opportunities for miners and mining contractors may arise from new TPP restrictions on state-owned enterprises that would force them to act more like private enterprises, and be less preferential in hiring contractors from their own countries.
There is also the intention in the TPP to better harmonize labour laws and worker safety requirements between the signatory nations.
The reaction to the TPP has been much more critical from groups representing environmentalists, health care providers and high-tech industries. Environmentalists are furious that climate change-related measures are barely incorporated into the deal, and health care proponents see little harmonization between the members, while high-tech professionals see weaker intellectual property laws.
One of Canada’s best known high-tech entrepreneurs, Jim Balsillie of Research in Motion and Blackberry fame, has come out with a scorching indictment of the TPP after studying large sections of the deal. The Canadian Press reported that he concludes the TPP “will harm Canadian innovators by forcing them to play by rules set by the treaty’s most dominant partner: the U.S.”
Balsillie told the CP he’s “not a partisan actor, but I actually think this is the worst thing that the Harper government has done for Canada … I think 10 years from now, we’ll call the signature the worst thing in policy that Canada’s ever done … it’s a treaty that structures everything forever — and we can’t get out of it.”
He added that “I think our trade negotiators have profoundly failed Canadians and our future innovators. I really lament it,” and said the government should have sent a more sophisticated negotiating team.
The new Liberal government has not yet reacted to release of the TPP details, and has been careful to point out the deal was negotiated by Stephen Harper’s defeated Conservative government. In Canada at the federal level, the TPP is in the hands of the newly appointed International Trade Minister Chrystia Freeland, who says she will review it, and asks for Canadians to send her comments on it.
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TPP, et al, Scrutiny;
Harmless taxpayers still Fear how much Global Corporate Economy shift of Liabilities will cost them in Tribunals’ Punitive Penalties when taken off the top of Federal Budgets. Not much left over for health care (final exacerbation for U.S. led privatization), education, services & to ‘pay’ lawyers to defend taxpayers in government’s conflict of interest. Very profitable for shareholders with no public; over-sight, defense, &/or, appeals.
Litigious Corporate America finally gets not only Tort Reform, but, Tort Abolishment & more.
Re-opening Treaties, both; ‘Domestic’ (First Nations) & ‘Foreign (TPP, CETA, C-CIT) to Finally Include Provisions of The W.A.D Accord, its Compensation, etc. for the most vulnerable band members, et al.
* Do the harmless taxpayers insist that Global Corporate Assocs. pay Compensations to TPP, et al, Effected Industries & Progeny from the Trillion$ of Anticipated ‘Profits’ from the harmless taxpayers via TPP’s Tribunal Penalties? Or, is CETA a big enough Crack for U.S. branch plants in Canada & EU to Exert ‘Non good corporation citizens’ Hammer?
Value of Shares & Dividends of Businesses, Industries & Enterprises Generated by Global Corporate Treaties/’Arrangements Directly Proportional to Punitive Penalties paid by the harmless taxpayers that are Assigned by Secret TPP, et al, Corporate Tribunals.
TPP & other Global Corporate Treaties/’Arrangements’;
Now that the Secret TPP negotiations have been ‘completed’.
‘Well, you should have known’. – President Bush on Corporate ‘America’ reneging on the FTAgreement with Canada.
Why didn’t someone tell me that the Punitive Penalties of the TPP’s Tribunals would come off the Top of Signatory Governments’ Budgets & Not the Bottom after All other Expenditures? Corporations & Shareholders First and the lil’ guy gets left overs, if any.
* Should Politicians Have to Sully Their ‘Beliefs’ & Sales Pitches with ‘Sordid’ Facts that Come from Actually Reading & Understanding Global Treaties/’Arrangements’? Just the Facts; ‘We’, The People can Draw our Own Conclusions? Unless they’ve been paid via ‘future considerations’…
2 Republican Senators Admit that They Have read the TPP.
Congress/Parliaments; Deluded, or, Deluding; ‘IGNORAMUS et IGNORABIMUS’ (I do not know & I will Not Know)?
‘Quis custodiet ipsos custodies’? (Who Will Guard the Guards?)
* There is a great deal more to the TPP, TTIP, CETA, et al, than Piggy-backing Autos & Parts from China to N. America &/or the EU via Japan, Gouging Drug Prices, Fish, IP, Privatizing Public Health Care, Tobacco Carve-out, Dairy products
& Pork.
• Can Piggy-backing 80% of products from China, BRICS, et al, on to Canadian products exported to the U.S. really lower the taxes of Canadian citizens by 7% if Corporate Canada increases our Taxes (Global Corporate Tribunal Penalties) by 2- 12%+?
• Canada’s (US’s) Traditional Media (Corporate Canada, et al) seem to be Adjusting the TPP ‘Goal Posts’ in order to ‘Demonstrate’ how Canada Won more than it Lost & similarly in all of the other Traditional Media of the other TPP nations. How did ‘We’ all ‘Win’ if everyone else ’Lost’? Isn’t more accurate that the Global Corporations WON BIG time & ALL the citizens of the Trans Pacific nations LOST BIG time?
* China & BRICS can Kill TPP, et al, by Offering its Trade Partners Alternative to citizen Punishing Dispute Settlements (ISDS)& few other ‘Hearts & Minds’ choices? BRICS too ‘Humbling’ for Corporate America & Assocs.? Is a Kinder & Wiser BRICS too ‘Humbling’ for Corporate America & Assocs.? Corporate ‘U.S.’ is L…