Trump to withdraw US from TPP

[Born To Slay 10,996]

24 minutes ago, Computer said:

I think Hillary just went against it because she had to.

They should have made it better and cut out the dangerous parts about the treaty superseding individual countries laws.  Some kind of trade deal would be good, now China wins.

Unless Trump makes a new deal.

I'm sure there'll be a new deal. They can't just leave nothing.

[doppelganger 4,022]

4 hours ago, KleinGa said:

It has its plus sides and its bad sides for the US economy. To answer your question concerning the bad side, here's a few points I discussed in detail in my paper (I reviewed both sides):

- The tariffs are incredibly low: Tariffs are the main barrier to free trade yes but today tariffs are ALREADY low and the TPP is advocating for even more lowering of tariffs which is dangerous for the US economy. The US dollar's value is actually surging and the low tariffs makes imports cheaper and exports less competitive in overseas markets.

- It advocates for the use of trickle down economics which basically stems from NAFTA which was a major failure for the US. 

- The TPP assumes that trade will be almost perfectly balanced and unemployment will not become rampant. (absolutely delusional). The U.S is notorious for being unable to balance trade (read up on the US- Korea free trade agreement which predicted that the trade deficit with Korea would be narrowed by ~4.5 billion but instead it expanded from 13 billion to 29 BILLION. - https://www.usitc.gov/publications/pub3949.pdf)

- A surge in imports will according to basic economic theory decrease jobs in the US and by extension massive wage declines (and they are already facing a problem with increasing the minimum wage). Demand for labour will fall and workers will have to compete for low grade jobs thus making wages fall. 

- Jobs. One of the main reasons the TPP faced so much opposition, especially in the rust belt, was the fact that jobs were directly threatened. The TPP would cost almost 130,000 Americans jobs to Vietnam and Japan alone, thus forcing them to compete with Vietnamese workers with a minimum wage of 59 cents. 

- Concerning copyright and intellectual property, the TPP plans to address this by cutting deep into our privacy and internet safety. It directly violates our freedom.

- The TPP was also a closed room deal, meaning US politicians negotiated it under cover and then BAM! gave Americans, this very limited and incomplete plan which saw dangers concerning democracy and even environmental preservation.

Basically small businesses stand to face the most harm from the TPP while big businesses (500 large corporations were involved in the making of the deal) will benefit tremendously because they can afford outsourcing their labour. 

The TPP was a mess but I really think it needed amending instead of a complete overhaul. "Make America great" I guess 

Hope I helped <3 

What country are you from?

EDIT: Forgot to mention, withdrawing from this deal gives China so much advantages, China basically wins bigly here. 

 

 

Thanks! 

I'm from Malaysia 🇲🇾 Here the TPP is seen as giving up our sovereignty to American corporations. And as much as I was looking forward to buying cheaper American goods, I'm worried about how it'll effect our healthcare system. 

 

edit:
But i guess the BIG question for America is: can the US afford to not sign the TPP? Coming up with a new trade deal with each of these countries would take decades, no?  Meanwhile China is aggressively expanding their influence over Southeast Asia (In Malaysia, China is building a high speed rail that will eventually connect Singapore-China + a 1400 hectare island between Singapore and Malaysia)

[KleinGa 18,177]

45 minutes ago, doppelganger said:

Thanks! 

I'm from Malaysia 🇲🇾 Here the TPP is seen as giving up our sovereignty to American corporations. And as much as I was looking forward to buying cheaper American goods, I'm worried about how it'll effect our healthcare system. 

 

edit:
But i guess the BIG question for America is: can the US afford to not sign the TPP? Coming up with a new trade deal with each of these countries would take decades, no?  Meanwhile China is aggressively expanding their influence over Southeast Asia (In Malaysia, China is building a high speed rail that will eventually connect Singapore-China + a 1400 hectare island between Singapore and Malaysia)

 

I'm well aware, I live in Singapore 

But although it might take time to negotiate a new trade deal, it will definitely occur during the Trump administration basically because Southeast Asia is looking to the US to take the lead on this because they definitely don't want China with the upper hand in anything. They will take whatever they can squeeze out of the Donald- and he knows that. 

It's all a bid for time tbh. Singapore's PM said he's ready to work with Trump and so are many other ASEAN leaders. ASEAN definitely doesn't want to bow to China and they will delay as much as possible until the US comes to their rescue - a dangerous position to be but anything's better than China, I guess.