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Home / World / Trump relinquished the TPP. Now it goes without the US in force

Trump relinquished the TPP. Now it goes without the US in force



This means that Welch's grape juice, Tyson's pork and Californian almonds, for example, will be subject to duties in Japan, while the products of competitors from countries participating in the new Comprehensive and Progressive Trans-Pacific Partnership Agreement will ultimately be mandatory. free.

Japan will offer a similar tariff relief to the European Union in a separate trade agreement, which will enter into force on 1 February.

"Our competitors in Australia and Canada will now benefit from these provisions as American farmers helplessly watch," said US Wheat Associates President Vince Peterson at a hearing on possible negotiations with Japan.

It's the opposite of what the Obama administration had planned when it started the Transpacific Partnership (TPP) negotiation. The planned deal, which had never passed the Congress, formed the backbone of US strategy to counter China's economic influence. However, this was one of the first things President Donald Trump undone after taking office and pulled the United States out of the deal in January 201
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Instead, he pursued a series of direct bilateral agreements and launched a trade war with an escalation of over $ 250 billion Dollars on Chinese goods to force Beijing to the negotiating table. The strategy has led to a new round of talks between Trump and his counterpart Xi Jinping – but for now, US manufacturers are not letting any major regional agreements with other countries in the Pacific.

The current signatories have left open the possibility that the United States and other countries – including China – could join in the future if they agree to the terms.

"They are trying to say," We are making progress, and we hope that someday they will come to their senses and come to us, "said Phil Levy, chief executive of the Chicago Council on Global Affairs, the lead economist for the trade President George W. Bush served.

Leaving the TPP fulfilled a campaign promise for Trump, who called the deal "catastrophic," arguing that it would harm American workers and manufacturing.

He also negotiated that The North American Free Trade Agreement of 1994 redrafted and replaced it with a successor agreement, the US-Mexico-Canada Agreement, which still needs the approval of Congress before it can enter into force The Trump government is currently pursuing bilateral agreements with the European Union as well Japan.

With the entry into force of the Trans-Pacific deal, the stakes will be even higher – especially for American farmers e who wanted to use the more open markets abroad.

Tariffs will expire over a 15-year period under the CPTTP.

Tyson Foods and Welch & # 39; s both complained to the US Trade Representative that their products are significantly disadvantaged worldwide if action is taken.

Given the growing concerns about IPR and cybercrime, the new rules for digital commerce could be the most important element of the CPTTP. Some of these have been included in Trump's renegotiated North American Free Trade Agreement, but are not currently eligible for US trade outside Mexico and Canada.

Creating a variety of standards through a series of bilateral and trilateral trade agreements could harm small and medium-sized US companies, which find it costly to keep up with the differences.

"The TPP should create harmonization," Levy said. "If you're a little guy, that helps you enormously."


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