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An overview of the transpacific partnership ttp the transatlantic trade and investment partnership t

On day one of his White House administration, president-elect Donald Trump has vowed to withdraw the US from the Trans Pacific Partnershipa free-trade agreement covering 12 countries. It must be stopped. We need to protect the American worker! It was agreed after nearly a decade of international talks between Washington and its international partners and is the most significant free trade deal since the US signed the North America Free Trade Agreement in 1994.

But it will still need ratification in all the parliaments of its major participants. There are 12 countries involved across the Pacific Rim: The idea is that it will benefit the US and its Asian trading partners by leveling the playing field and eliminating unnecessary taxes.

Transatlantic Trade and Investment Partnership (TTIP)

It could also lead to strong commitments on labour practices and the environment. The US' withdrawal from TPP could be the advantage of China, which may now be free to pursue its own deals in the region.

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This is a deal being negotiated between the European Union and the United States. It is hoped that whatever the agreement eventually looks like, it will result in increased trade and prosperity for those on both sides of the Atlantic.

What's the difference between TTIP and TPP and why does Donald Trump want them scrapped?

The TPP creates a new international commission that makes decisions the American people can't veto Donald Trump Lower barriers to trade should mean that more of it takes place, and the ensuing competition should result in better and cheaper goods and services, making all sides better off.

But it's not just tariffs that the TTIP is meant to tackle. Politicians also want to get rid of non-tariff barriers, known as NTBs, which are rules that countries or regions, such as the EU, impose on goods, such as standards and sizes.

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  • It must be stopped;
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  • Trump does not like the deals because he thinks they will hurt American workers and undercut US companies;
  • His stance on trade is protectionist:

TTIP is intended to bring about lower trade tariffs, and to reduce regulatory barriers that make trade between the US and the EU more costly than it need be.

Why doesn't Trump like these deals? By extension, he is also deeply critical of TTIP and is widely expected to either ditch the deal or renegotiate the trade deal. Trump does not like the deals because he thinks they will hurt American workers and undercut US companies.

His stance on trade is protectionist: On TTP, specifically, he says: I am not an isolationist. And they probably think I am.