WHAT IT IS
- TPP is a free trade agreement between Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States and Vietnam
- These nations make up 40% of the world’s economic output
- Goal is to create a singular market, similar to the EU
WHY IT MATTERS
The argument about TPP touches on larger issues in the United States. These issues include the United States job market and the value that Americans place on the idea of being the dominant force in the global economy. Currently, the United States is experiencing a slight decline in its power, and many American jobs have been outsourced to foreign countries. For young people coming out of high school, trade school, and college, there are far fewer skilled blue-collar jobs available than there nearly were 20 years ago. These types of jobs are the hallmark of the American middle class, a population that has been essential to the US’s success as a superpower.
WHERE WE ARE NOW
- President Trump recently signed an executive order that pulled the United States from the TPP.
- The remaining nations are continuing with the partnership.
SOMETHING TO THINK ABOUT
- Globalization: A more interconnected world allows US companies to exploit cheap labor abroad and therefore could diminish the number of US manufacturing jobs.
- NAFTA: (North American Free Trade Agreement) Another free trade agreement that Trump and other politicians have frequently brought up as being a “bad trade deal”
- Wage Stagnation: Wages for middle class Americans have not changed over the past ten to fifteen years. The TPP would possibly further endanger the middle class by minimizing the amount of blue-collar jobs available.