Canada Joining Trans-Pacific Partnership Essay

Canada has established a clear goal towards helping businesses have long-term relationships & growth internationally and to save money. Mainly focusing on negotiating better rules/policies that will work alongside local manufacturing and exporting organizations in Canada and around the world. Canada has become willing to aim their business intentions towards working with the WTO and other countries, in efforts to overcome their global presence issues. The “Free Trade Agreement” helps Canada’s exporter and manufacturer gain a competitive advantage globally (with Europe, Latin America and other countries) by exposing them to new customers and investment opportunities (resulting in greater sales numbers). Constant focus on building a

The Trans-Pacific Partnership aims to establish a tariff free economic cooperation zones between twelve countries around the Pacific Ocean. These countries are the United States, Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam, thus creating the largest trade zone in the world (Jackson, 2015). The

Canada is comprised of ten provinces and three territories, a small number that can conceivably focus on redefining internal barriers for the convenience of the entire country. The Globe and Mail article – Canada’s new free-trade agreement? How about a deal between provinces by Perrin Beatty refers to trade that is occurring inside of Canada in relation to the internal barriers of trade. As a country, Canada’s first priority when it comes to trade is not necessarily trading issues between provinces, but instead trading between other countries. Canada should first and foremost be correcting barriers for trade between all of its borders before continuing to create agreements that make trading easier for only some provinces.

The greatest achievement that I have been able to accomplish in terms of securing the material national interest of the United States has been the agreement of the Trans-Pacific Partnership. This trade agreement amongst twelve member states (United States, Canada, Chile, Peru, Zealand, Australia, Brunei, Singapore, Vietnam, Malaysia, and Japan) was adopted to strengthen the economic ties for a more interconnected global economy. For the average working American it shows great promise to increase their income and for the nation as a whole. It also possesses the potential to allow for the growth of the nation’s GDP and annual exports, thereby increasing the living standard.

Trade is absolutely essential in Canada’s economy in order to maintain good standards of living. It has allowed industries to specialize, hence achieving greater economic efficiency.

Free trade, a system which symbolizes the WTO and is pursued by many nations. It is designed to significantly increase trade between the member nations of the agreement. Free Trade Agreements (FTA) have long been the cause of the economic rise, better labor standards, development, investment, inter-alia. Notably, the 2 biggest being the TTIP and the TPP; agreements which are perfectly described as FTA in their successful aspects. The TPP was initially an agreement between Australia and 12 other Pacific countries but ever since the declaration of withdrawal by President Trump has been subjected to obstacles in its way to being implemented. Considering the benefits of the TPP of delivering high-quality outcomes that will promote job creation,

As Canada is not a very large country population wise, it is crucial that Canadian companies are protected from large, capital-orientated companies worldwide. Although the Trans-Pacific Partnership will eliminate many tariffs, the beef and pork industry will still benefit greatly. Canada exported about $3.9 billion dollars worth of product to the potential TPP markets in the years 2012 to 2014 (The ABCs of TPP. (n.d.). Retrieved November 23, 2015, from

The agreement was launched after the release of Report of the Joint Study on the Possibility of a Canada-Japan Economic Partnership Agreement which found many potential opportunities that can help Canada and Japan deepen trading relations. The report anticipated domestic products gross approximately USD $4 billion each for both Canada and Japan as a result of free trade. An EPA also benefits Canada because Canadian businesses can use Japan as a platform to expand economic activities in Asian marketplace. Besides, by eliminating tariffs, Canadian importer and exporter can earn more profit provided by the Japanese

Both Canadian businesses and the government have similar goals and a shared vision to further develop its trade in the emerging Asian market as well as other international markets. The government provides businesses with the resources and presents them with opportunities by creating and pursuing trade agreements with these countries of interest.  One example of this is the recently signed Trans-Pacific Partnership (TPP). This Free Trade Agreement enables businesses to trade with countries including Australia, Brunei, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States, and Vietnam. This treaty states that all parties must provide each other’s goods with “national treatment”, goods imported from a TPP party must

When the original TPSEP deal was concluded it was a complex and comprehensive trade deal between those 4 pacific rim

International trade contributes a lot to the increasing world income, and the TPP is not an exception. When the TPP is fully implemented, the world will be expected to gain $492 billion annually by 2030 (Petri and Plummer). Trade is not a new phenomenon, but the widespread international trade which heavily increased the economic interdependence among countries is unprecedented. TPP is not the only trade agreement that TPP participating countries have. The TPP participating countries are also negotiating for the China-led Regional Comprehensive Economic Partnership (RCEP). Since Trump’s election, China has been pushing hard with the RCEP negotiation, and if the trade deal were to be ratified, the US would have to pay higher tariff than other Asian countries to Japan and lose one of the most important markets (Gunn). According to a White House report,

As mentioned earlier, the TPP is a major potential free trade agreement between twelve of the Pacific Rim countries. The countries are Australia, Canada, Japan, Malaysia, Mexico, Peru, The United States, Vietnam, Brunei, Chile, New Zealand, and Singapore (Freil, Sharon, Gleeson, Thow, Labonte, Stuckler, Kay, and Snowdon 1). Interestingly enough, this agreement is the technical successor to the P4 agreement that was initialised in 2006 (Elms 29). This agreement was held between Chile, Brunei, New Zealand, and Singapore. In 2008 the U.S. showed large interest in joining this agreement giving spark to a new agreement that has enticed other Pacific Rim countries (Elms 29). Taking charge of this new agreement the U.S. has laid down most of the TPP 's foundation to create an agreement that should allow for a

-The Trans-Pacific Partnership Agreement is a free trade agreement initiated in 2005 and was joined by the U.S. in 2008 which proposes to liberalize trade in the Asia-Pacific region.

The first piece of news I would like to write about is from BBC “World Business Report” reporting on the signing of the Trans Pacific Partnership trade deal in Auckland (New Zealand) on 4th February 2016. The aim of the TPP deal is to free up trade and investment between 12 countries across the Pacific Rim, that account for about 40% of the global economy: Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, USA and Vietnam. Those countries now have two years to ratify or reject the pact; however, if only ten nations ratified without Japan and the United States, the pact would not be enforced. New Zealand trade minister, Todd McClay, stated that according to Central Bank forecasts all the participating countries would benefit from the Trans Pacific Partnership trade deal. Despite the governments’ enthusiasm, there have been protests in different countries by those who claim that, because of this deal, corporations will profit and small companies and workers will lose.

The Trans-Pacific Partnership has been in the works between the EU and Japan since 2013 for a free trade agreement and Non-Tariff Measures in order to ease the burdens of existing trade barriers with Japan. Urgency recently developed when the Trump, the President of the United States of America, left the partnership affecting the other 11 members of the trading bloc. (EU-Japan Center for Industrial Cooperation , 2017)