The TPP or Trans-Pacific Partnership was a proposed trade agreement between 12 countries, including the United States, Japan, and Canada. It was designed to boost economic growth and increase trade among the involved nations. However, the agreement was considered controversial and faced opposition from different groups.
The TPP aimed to eliminate tariffs on a wide range of goods and services, reduce non-tariff barriers, and establish common rules and regulations for trade among member countries. The agreement also tackled intellectual property rights, labor standards, and environmental protection.
One of the most debated aspects of the TPP was its potential impact on jobs. Supporters of the agreement argued that it would create new jobs and boost economic growth, while opponents claimed that it would lead to the loss of jobs, especially in industries that would face increased competition from other member countries.
Another concern was the potential impact on access to medicines. The TPP included provisions that could limit the ability of member countries to produce or import generic drugs, which are cheaper than brand-name drugs. This could make it harder for people in developing countries to access affordable medications.
The TPP faced significant opposition from different groups, including labor unions, environmental organizations, and consumer groups. They argued that the agreement would favor large corporations at the expense of workers, the environment, and public health.
In 2017, President Trump withdrew the US from the TPP, effectively ending the agreement. However, some of the other member countries continued to negotiate and eventually signed a similar agreement known as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
In conclusion, the TPP was a proposed trade agreement that aimed to increase economic growth and trade among member countries. However, it faced significant opposition and controversy, particularly around concerns about job losses and access to affordable medicines. While the US withdrew from the agreement, other member countries continued to negotiate and eventually signed a similar agreement.