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Added on the 31/07/2015 07:13:54 - Copyright : Reuters EN
U.S. President Barack Obama says he will do whatever he can to advance a controversial trade deal with the European Union in his last nine months in office. But, as Ivor Bennett reports, there's a growing swell of populist concerns about the impact on jobs, consumer protections and the environment.
U.S. President Barack Obama says he will do whatever he can to advance a controversial trade deal with the European Union in his last nine months in office. But, as Ivor Bennett reports, there's a growing swell of populist concerns about the impact on jobs, consumer protections and the environment.
U.S. President Barack Obama uses his weekly address to tout the benefits of the Trans-Pacific Partnership (TPP) trade deal. Rough cut (no reporter narration)
U.S. Democratic presidential candidate Hillary Clinton tell PBS she does not support the 12-nation Trans-Pacific Partnership (TPP). Rough Cut (no reporter narration).
Trade ministers from 12 countries announced the largest free trade deal in a generation on Monday in Atlanta. The Trans-Pacific Partnership (TPP) trade deal started with an agreement signed in 2006 between Brunei, Chile, New Zealand and Singapore.It then expanded to 12 countries, including the US and Japan, which have a population of about 800 million and are responsible for 40% of world trade, BBC reported. The agreement will impact a vast array of business sectors including agriculture, automotive, pharmaceuticals and environmental.According to the Guardian, besides eliminating or reducing over 98 percent of tariffs across a range of sectors, it will also allow foreign companies to sue governments if they feel their profits are affected.For instance, a tobacco company such as the Philips Morris would be able to sue a country for unappealing or image-damaging packaging.Critics of the trade deal say that negotiations have been dealt mostly in secret and that it gives corporations too much power.Agriculture also proved to be another sticking point with countries like New Zealand wanting more access to markets in Canada, Mexico, Japan and the United States.
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