Wednesday 1 February 2017

TPPA?

In late 2015 the TPPA was brought forth into the New Zealand parliment chamber for discussion yet again. The TPPA (TRANS PACIFIC PARTNERSHIP AGREEMENT) is an international free-trade agreement between 12 countries. The trade mainly states;The agreement cuts over 18,000 tariffs. Tariffs on all U.S. manufactured goods and almost all U.S. farm products would be eliminated completely, with most eliminations occurring immediately.According to the congressional law, TPP "would be the largest U.S. by trade flows ($905 billion in U.S. goods and services exports and $980 billion in imports in 2014)". The signatories represent roughly 40% of global GDP, and one-third of world trade. -(taken from legal copy of TPP). Many protested against the trade saying it would not benefit new Zealand as the risks of higher medical assistance would be probable and fear that the incomes would not economically benefit New Zealand but rather divide it. However the trade's first draft was signed by John Key (Former NZ prime minister) on the fourth of February last year. But many are now wondering what is going to become of the trade. America was pulling all the strings but recently inaugurated, President Trump has effectively cut off America's ties with the TPPA, meaning that America will no longer take part. China however intends to carry on with the trade. looking from a realistic view here in New Zealand it seem a little unlikely that the trade will continue on, or at least not in the draft formed by US President, Barack Obama. Many Kiwi's have been temporarily satisfied with the sudden halt and bump in the road of the TPPA. One can already see that this is going to be a big card for each party to play this upcoming NZ election, (September 33rd). What will become of John Key's beloved TPPA!?

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