TPP Signed Without U.S., But It’s Not All Bad for America
(Tom Driggers, Flickr)
(Tom Driggers, Flickr)
The below is an excerpt of an article by Asia Society Policy Institute Vice President Wendy Cutler on what a finalized Trans-Pacific Partnership (TPP) agreement means for the U.S. It was originally published by Axios on March 8, 2018.
As President Trump signed proclamations for tariffs on steel and aluminum this afternoon, the 11 remaining members of the Trans-Pacific Partnership (TPP) finally closed their sweeping trade deal, just over a year after the U.S. withdrew.
Why it matters: For the U.S., the TPP deal means that manufacturing, agricultural and services exporters and their workers will be at a disadvantage in the markets of the 11 Asian-Pacific countries. Beef, pork and dairy exporters, for example, will not benefit from the tariff cuts made by Japan that competitors from Australia, New Zealand and Canada will soon enjoy.