Trans-Pacific Partnership Evaluation Report

Statement of Issue:

With President Trump upending the Trans-Pacific Partnership, what can be done to move the United States policy on trade towards an open market scenario?

Executive Summary:

The United States economy has made some positive strides with the Trump Administration. However, President Trump’s decision to upend the Trans-Pacific Partnership has caused a setback in the desire for the country to become a global trader. The drive for open markets has created a need within the United States government to adopt policy that will allow for trade to expand over to international waters, thus allowing the United States to grow in terms of becoming the main contender in the global economy.

Without the introduction of policy that can promote open trade, the United States may face increasing competition from other foreign powers like China. It is up to the United States government to choose to continue the progress towards an open market and trade system. Doing so may see great improvements in United States manufacturing and promote the country for foreign investment and trade.

Background:

Home to one of the strongest and richest economies, The United States has taken aim at constructing a truly international trading system that must begin with support for an open market. For the United States to adopt an approach towards global integration there must be changes in how the government sees trading and adoption of an open markets policy. For example, free trade, an open market, allows consumers the best changes and most choices for improving their standard of living.

After World War II, the United States saw a dramatic increase in foreign trade as well as the formation of an international trading framework based on an open economy principle. The United States at the forefront of such changes, needs to take the same position again and open up trade with the world economy. In the past, global trade talks stalled leading to a turn to bilateral and regional free trade agreements.

For instance, Former President Barack Obama won passage of the free trade agreements with three countries: South Korea, Colombia, and Panama, before leaving office. He also negotiated Asia-centered Trans-Pacific Partnership furthering the goal of an open market and open trade. However, the Trans-Pacific Partnership (TPP) was something President Donald J. Trump did not want continued and, so it was upended. The decision to upend the TPP has led to a desire to advocate for a more open market to provide a boost in U.S. manufacturing and make it easier for American businesses to compete in global markets.

But what is the current U.S. trade policy?

After World War II, the institutions of international trade policy evolved, led mainly by Europe and the United States. Twenty-three countries signed the General Agreements on tariffs and Trade (GATT) in October of 1947 and within thirty-nine years it expanded to include one hundred and twenty-three nations. Every country within the agreement remained committed to the principles of open economies, freer trade and lower tariffs.

During those years global tariffs fell from 30 percent to under 5 percent. However, in 1986, President Ronald Reagan helped launch the creation of the World Trade Organization (WTO), via the Uruguay Round of negotiations, that would be finalized under President Bill Clinton in 1994 and aimed to address the GATT system’s perceived limitations like intellectual property, cross-border investment, agriculture, and trade in services. Although development continued even as far into 2001 with the last round of negotiations, there was still problems regarding agriculture policy. Meaning, India and China sought retaining flexibility in imposing safeguard duties of import tariffs, while also pushing for less farm subsidies both in Europe and the United States.

Government Interest in the Issue:

With a stalled WTO process, the shift for U.S. policymakers have been to focus on finishing smaller bilateral and regional investment and trade deals. Through the North American Free Trade Agreement enacted in 1994, Canada and Mexico were able to trade freely with the United States. However, with Trump ordering the withdrawal of the TPP deal in January 2017, instead, pushing for an emphasis on bilateral deals, the United States may be largely setback in creating the coveted open market, and globalist trade agreement Trump’s predecessors wanted and worked towards. This then presents the main issue, the withdrawal from the Trans-Pacific Partnership (TPP).

The TPP is the often called a ‘megaregional’ deal because it spans several continents. What began in 2002 and a few Pacific Rim countries culminated in Former President Barack Obamas push towards a trade agreement with Asia-centered negotiations. By 2015, TPP included twelve nations, one of which was Japan. China was not part of the list of participating countries.

TPP countries make up 44 percent of the exports from the United States with a whopping 85 percent total United States agriculture exports. While tariffs for trade were already low, the TPP deal aimed to set up reform to include streamlining regulations and customs, promotions of transparent and competitive business laws, liberalization of protected sectors, reinforcing intellectual property safeguards, and enforcement of environmental and labor standards. The objective was to generate a complete integrated financial region as well as establish ongoing rules for the increasing rise of global investment.

President Trump aimed to remove the United States from TPP as well as renegotiate the terms of NAFTA. In a recent round of NAFTA renegotiations on October 17, 2017, everything ended in a stalemate with Mexico and Canada, the partners in the NAFTA agreement. The Trump Administrations list of demands may hinder any progress and could stall renegotiations through March 2018. These changes in agreements may signal a dramatic shift away from the open markets and trade scenario and put the United States back in relation to becoming the biggest trader in the world. Trump’s January 2017 executive order to renegotiate NAFTA has generated rounds of renegotiations that have led to a waste of resources and time that can affect the American economy in Canada, Mexico, and the United States.

Government’s Previous Policy Decisions/Actions:

Changes that sparked a renegotiation of NAFTA and an upending of TPP started through the Trump Administration. For example, for NAFTA, the Trump Administration wants to lower Mexico and the United States trade deficit. The stats point to American buying climbing to $55.6 billion more for imports from Mexican buying. Canada has a smaller trade deficit with the United States because Canada imports close to as much as the United States. To close the trade deficit with Mexico, the United States under the Trump Administration, wants elimination of unfair subsidies and stronger protection for U.S. intellectual and trade properties. The additional demand of turning Mexico’s state-owned companies like Pemex into private corporations is to keep competition reduced for Mexican products into the United States.

Canada is not excluded from renegotiations. The Commerce Department threatened imposing a 20 percent tariff for Canadian lumber imports citing that low-cos lumber from Canada’s subsidies saturates the American market and keeps American lumber at low prices. U.S. Commerce Secretary Wilbur Ross wants to make 62 percent of a car’s parts be sold in North America, allowing parts to come tax-free from Asia.

Regarding subsidies in the TPP agreement, some previous decisions during the Obama Administration allowed for a loss of some tariff protection for poultry, dairy, and beef producers. Because EU and U.S. companies received farming subsidies, it prevented the success of the Doha round of trade talks. This was a major win for negotiators in the countries within the TPP agreement. These policy decisions aimed to promote negotiations pertinent to labor unions and formation of adherence of international standard. However, when the upending of the TPP was confirmed through the Trump Administration, it allowed much of the progress made in the TPP agreement to be setback.

Policy options/Pros and Cons:

The push for upending the TPP has removed the United States government’s leverage against China. A big pro of the TPP is that China’s manufacturing competitors would increase their governance standards and it may lead to China increasing adherence to international standards in the long-term. Additionally, having more countries that manufacture other than China would allow the United States businesses to expand their reach in the global market by relying on other countries other than China for production of goods. If the United States is not leading the way towards East Asian integration, China might take its place and do so, leaving United States with potential problems in the future regarding trade agreements.

The TPP also allows for a boost in exports that related to economic growth. Job creation would increase in all the twelve countries involved. The plan was to increase exports by $305 billion each year through 2025. United States exports alone would increase to an estimated $123.5 billion. Industries that benefit from the TPP are machinery, agriculture, plastics, and auto. The TPP also helps remove 18,000 tariffs typically places on U.S. exports. U.S. workers would also net a $77 billion dollar increase from the agreement. The last important pro is that through the TPP there would be a decrease in wildlife trafficking, helping marine species, elephants, and rhinoceroses the most. Countries that do not comply would face harsh trade penalties, helping to prevent environmental abuses like unsustainable fishing and logging.

There are problems regarding the state in which the United States economy will be if the TPP is enforced. For example, the Trump Administration built a campaign platform on creation of American jobs. If the manufacturing jobs go to other countries, then it will keep American business interest away from the United States and in countries like Malaysia. Another con is the instability of the TPP regarding income equality. Free trade agreements some suggest leader to greater income inequality in countries with high wages. The gains seen from the TPP would go to those earning more than $88,000 annually. Additionally, promotion of cheaper goods via production in low-wage countries does not promote United States manufacturing and could further derail it. Additionally, the TPP’s agreement regarding patents will decrease cheap generic availability, raising the price of numerous drugs. The last potential con is TPP could supersede financial regulations.

Some of the ways such obstacles were circumvented in previous negotiations was through introduction of labor unions in the TPP agreement so countries like Vietnam, Malaysia, and Singapore would comply with international trade standards to protect the environment and their workers. The United States also agreed to short patents, meaning Pharmaceutical companies can keep their patents for drugs secret for 5-7 years rather than 12 years. If the Trump Administration wants to keep TPP and NAFTA, it will have to renegotiate towards allowing more job creation for lower-earning Americans and promote additional incentives for the twelve countries involved in TPP and Canada and Mexico for NAFTA.

Policy Recommendations:

Because the pursuit of an open market rests on NAFTA and TPP and currently the NAFTA renegotiations are taking place, there are certain key points that should be addressed regarding policy recommendations. The first is the time in which NAFTA was enacted (1994). Back then Netflix and Google did not exist and neither did the smart phone. Intellectual property and online business transactions have come at the forefront of trade. Second, NAFTA’s major flaw was the inclusion of labor and environmental regulations that create non-trade issues, keeping actual trade problems in the backburner.

Recommendations would lean towards a shift away from labor and environmental regulations and a focus on trade issues such as subsidies. The last major point is United States trade agreements must be designed to augment economic freedom and move away from government control. The aim is to promote economic stability for the entire continent to serve as a potential model for a global trade agreement where all countries can participate and promote a truly open market and open trade. For this to happen, government control must be lessened in favor of economic gains.

The TPP agreement should be revisited and allow for the right level of trade openness to keep satisfied the United States and the other eleven countries involved. To do that, the recommendation is for substantial openness to reflect the basic economic forces that generate gains from trade. The agreement should renegotiate to include clear rules that can be enforced via transparent dispute settlement processes. One such simplification if removal of some farming subsidies for Europe and the United States to promote interest in collaboration with the other countries part of the TPP and potentially China. South Korea wants to join the TPP and if the TPP is allowed, China may become incentivized to join, creating a truly open market and trade for the world. The need for non-tariff services and barriers will ultimately increase the need to promote talks about the TPP.

It is estimated that the TPP would generate hundreds of billions of dollars of additional GDP per year for the 12-member countries, and many additional jobs. While all nations would, on balance, benefit, the smaller and developing economies will probably gain the most, relative to their size. These are significant benefits, but because tariffs in the TPP member countries are already low, with exceptions for some specific products, they are modest compared to the gains from some earlier trade liberalizations when tariffs were higher and reduced more (Parker, 2015).

Talking Points:

· The Trans-Pacific Partnership is a free-trade agreement between the United States and 11 other countries bordering the Pacific Ocean. The Trump Administration through President Trump’s executive order, withdrew the United States from the agreement on January 23, 2017.

· Canada has lumber subsidies that make lumber prices low in the United States, something the Trump Administration wants to renegotiate.

· The TPP agreement is meant to balance China and India’s trade dominance in East Asia. The TPP would allow the United States to arbitrate trade disputes in the oil-rich South China Sea.

 

 

List of References:

Amadeo, K. (2014, June 14). Trans-Pacific Partnership: Pros, Cons, Obstacles. Retrieved from https://www.thebalance.com/what-is-the-trans-pacific-partnership-3305581

McBride, J. (2017, January 31). The Trans-Pacific Partnership and U.S. Trade Policy | Council on Foreign Relations. Retrieved from https://www.cfr.org/backgrounder/trans-pacific-partnership-and-us-trade-policy

Parker, C. B. (2015, November 11). Trans-Pacific Partnership may produce import competition, Stanford scholar says. Retrieved from https://news.stanford.edu/2015/11/11/tpp-boskin-trade-111115/

 


Get Professional Assignment Help Cheaply

Buy Custom Essay

Are you busy and do not have time to handle your assignment? Are you scared that your paper will not make the grade? Do you have responsibilities that may hinder you from turning in your assignment on time? Are you tired and can barely handle your assignment? Are your grades inconsistent?

Whichever your reason is, it is valid! You can get professional academic help from our service at affordable rates. We have a team of professional academic writers who can handle all your assignments.

Why Choose Our Academic Writing Service?

  • Plagiarism free papers
  • Timely delivery
  • Any deadline
  • Skilled, Experienced Native English Writers
  • Subject-relevant academic writer
  • Adherence to paper instructions
  • Ability to tackle bulk assignments
  • Reasonable prices
  • 24/7 Customer Support
  • Get superb grades consistently
 

Online Academic Help With Different Subjects

Literature

Students barely have time to read. We got you! Have your literature essay or book review written without having the hassle of reading the book. You can get your literature paper custom-written for you by our literature specialists.

Finance

Do you struggle with finance? No need to torture yourself if finance is not your cup of tea. You can order your finance paper from our academic writing service and get 100% original work from competent finance experts.

Computer science

Computer science is a tough subject. Fortunately, our computer science experts are up to the match. No need to stress and have sleepless nights. Our academic writers will tackle all your computer science assignments and deliver them on time. Let us handle all your python, java, ruby, JavaScript, php , C+ assignments!

Psychology

While psychology may be an interesting subject, you may lack sufficient time to handle your assignments. Don’t despair; by using our academic writing service, you can be assured of perfect grades. Moreover, your grades will be consistent.

Engineering

Engineering is quite a demanding subject. Students face a lot of pressure and barely have enough time to do what they love to do. Our academic writing service got you covered! Our engineering specialists follow the paper instructions and ensure timely delivery of the paper.

Nursing

In the nursing course, you may have difficulties with literature reviews, annotated bibliographies, critical essays, and other assignments. Our nursing assignment writers will offer you professional nursing paper help at low prices.

Sociology

Truth be told, sociology papers can be quite exhausting. Our academic writing service relieves you of fatigue, pressure, and stress. You can relax and have peace of mind as our academic writers handle your sociology assignment.

Business

We take pride in having some of the best business writers in the industry. Our business writers have a lot of experience in the field. They are reliable, and you can be assured of a high-grade paper. They are able to handle business papers of any subject, length, deadline, and difficulty!

Statistics

We boast of having some of the most experienced statistics experts in the industry. Our statistics experts have diverse skills, expertise, and knowledge to handle any kind of assignment. They have access to all kinds of software to get your assignment done.

Law

Writing a law essay may prove to be an insurmountable obstacle, especially when you need to know the peculiarities of the legislative framework. Take advantage of our top-notch law specialists and get superb grades and 100% satisfaction.

What discipline/subjects do you deal in?

We have highlighted some of the most popular subjects we handle above. Those are just a tip of the iceberg. We deal in all academic disciplines since our writers are as diverse. They have been drawn from across all disciplines, and orders are assigned to those writers believed to be the best in the field. In a nutshell, there is no task we cannot handle; all you need to do is place your order with us. As long as your instructions are clear, just trust we shall deliver irrespective of the discipline.

Are your writers competent enough to handle my paper?

Our essay writers are graduates with bachelor's, masters, Ph.D., and doctorate degrees in various subjects. The minimum requirement to be an essay writer with our essay writing service is to have a college degree. All our academic writers have a minimum of two years of academic writing. We have a stringent recruitment process to ensure that we get only the most competent essay writers in the industry. We also ensure that the writers are handsomely compensated for their value. The majority of our writers are native English speakers. As such, the fluency of language and grammar is impeccable.

What if I don’t like the paper?

There is a very low likelihood that you won’t like the paper.

Reasons being:

  • When assigning your order, we match the paper’s discipline with the writer’s field/specialization. Since all our writers are graduates, we match the paper’s subject with the field the writer studied. For instance, if it’s a nursing paper, only a nursing graduate and writer will handle it. Furthermore, all our writers have academic writing experience and top-notch research skills.
  • We have a quality assurance that reviews the paper before it gets to you. As such, we ensure that you get a paper that meets the required standard and will most definitely make the grade.

In the event that you don’t like your paper:

  • The writer will revise the paper up to your pleasing. You have unlimited revisions. You simply need to highlight what specifically you don’t like about the paper, and the writer will make the amendments. The paper will be revised until you are satisfied. Revisions are free of charge
  • We will have a different writer write the paper from scratch.
  • Last resort, if the above does not work, we will refund your money.

Will the professor find out I didn’t write the paper myself?

Not at all. All papers are written from scratch. There is no way your tutor or instructor will realize that you did not write the paper yourself. In fact, we recommend using our assignment help services for consistent results.

What if the paper is plagiarized?

We check all papers for plagiarism before we submit them. We use powerful plagiarism checking software such as SafeAssign, LopesWrite, and Turnitin. We also upload the plagiarism report so that you can review it. We understand that plagiarism is academic suicide. We would not take the risk of submitting plagiarized work and jeopardize your academic journey. Furthermore, we do not sell or use prewritten papers, and each paper is written from scratch.

When will I get my paper?

You determine when you get the paper by setting the deadline when placing the order. All papers are delivered within the deadline. We are well aware that we operate in a time-sensitive industry. As such, we have laid out strategies to ensure that the client receives the paper on time and they never miss the deadline. We understand that papers that are submitted late have some points deducted. We do not want you to miss any points due to late submission. We work on beating deadlines by huge margins in order to ensure that you have ample time to review the paper before you submit it.

Will anyone find out that I used your services?

We have a privacy and confidentiality policy that guides our work. We NEVER share any customer information with third parties. Noone will ever know that you used our assignment help services. It’s only between you and us. We are bound by our policies to protect the customer’s identity and information. All your information, such as your names, phone number, email, order information, and so on, are protected. We have robust security systems that ensure that your data is protected. Hacking our systems is close to impossible, and it has never happened.

How our Assignment  Help Service Works

1.      Place an order

You fill all the paper instructions in the order form. Make sure you include all the helpful materials so that our academic writers can deliver the perfect paper. It will also help to eliminate unnecessary revisions.

2.      Pay for the order

Proceed to pay for the paper so that it can be assigned to one of our expert academic writers. The paper subject is matched with the writer’s area of specialization.

3.      Track the progress

You communicate with the writer and know about the progress of the paper. The client can ask the writer for drafts of the paper. The client can upload extra material and include additional instructions from the lecturer. Receive a paper.

4.      Download the paper

The paper is sent to your email and uploaded to your personal account. You also get a plagiarism report attached to your paper.

smile and order essaysmile and order essay PLACE THIS ORDER OR A SIMILAR ORDER WITH US TODAY!!!

order custom essay paper

What Will You Get?

We provide professional writing services to help you score straight A’s by submitting custom written assignments that mirror your guidelines.

Premium Quality

Get result-oriented writing and never worry about grades anymore. We follow the highest quality standards to make sure that you get perfect assignments.

Experienced Writers

Our writers have experience in dealing with papers of every educational level. You can surely rely on the expertise of our qualified professionals.

On-Time Delivery

Your deadline is our threshold for success and we take it very seriously. We make sure you receive your papers before your predefined time.

24/7 Customer Support

Someone from our customer support team is always here to respond to your questions. So, hit us up if you have got any ambiguity or concern.

Complete Confidentiality

Sit back and relax while we help you out with writing your papers. We have an ultimate policy for keeping your personal and order-related details a secret.

Authentic Sources

We assure you that your document will be thoroughly checked for plagiarism and grammatical errors as we use highly authentic and licit sources.

Moneyback Guarantee

Still reluctant about placing an order? Our 100% Moneyback Guarantee backs you up on rare occasions where you aren’t satisfied with the writing.

Order Tracking

You don’t have to wait for an update for hours; you can track the progress of your order any time you want. We share the status after each step.

image

Areas of Expertise

Although you can leverage our expertise for any writing task, we have a knack for creating flawless papers for the following document types.

Areas of Expertise

Although you can leverage our expertise for any writing task, we have a knack for creating flawless papers for the following document types.

image

Trusted Partner of 9650+ Students for Writing

From brainstorming your paper's outline to perfecting its grammar, we perform every step carefully to make your paper worthy of A grade.

Preferred Writer

Hire your preferred writer anytime. Simply specify if you want your preferred expert to write your paper and we’ll make that happen.

Grammar Check Report

Get an elaborate and authentic grammar check report with your work to have the grammar goodness sealed in your document.

One Page Summary

You can purchase this feature if you want our writers to sum up your paper in the form of a concise and well-articulated summary.

Plagiarism Report

You don’t have to worry about plagiarism anymore. Get a plagiarism report to certify the uniqueness of your work.

Free Features $66FREE

  • Most Qualified Writer $10FREE
  • Plagiarism Scan Report $10FREE
  • Unlimited Revisions $08FREE
  • Paper Formatting $05FREE
  • Cover Page $05FREE
  • Referencing & Bibliography $10FREE
  • Dedicated User Area $08FREE
  • 24/7 Order Tracking $05FREE
  • Periodic Email Alerts $05FREE
image

Our Services

Join us for the best experience while seeking writing assistance in your college life. A good grade is all you need to boost up your academic excellence and we are all about it.

  • On-time Delivery
  • 24/7 Order Tracking
  • Access to Authentic Sources
Academic Writing

We create perfect papers according to the guidelines.

Professional Editing

We seamlessly edit out errors from your papers.

Thorough Proofreading

We thoroughly read your final draft to identify errors.

image

Delegate Your Challenging Writing Tasks to Experienced Professionals

Work with ultimate peace of mind because we ensure that your academic work is our responsibility and your grades are a top concern for us!

Check Out Our Sample Work

Dedication. Quality. Commitment. Punctuality

Categories
All samples
Article review
Thesis/Thesis chapter
Research paper
Article review
A Holistic Response to Crime Victimization
Master's
Law
9
View this sample
Thesis/Thesis chapter
Post Covid-19 Economic Recovery
PhD
Economics
60
View this sample
Research paper
Final Case Analysis: Organizational Ethical Dilemmas
Undergrad. (yrs 3-4)
Business Studies
8
View this sample
Research paper
Communicable Disease
Master's
Nursing
8
View this sample
Research paper
Mental health
Master's
Nursing
10
View this sample

It May Not Be Much, but It’s Honest Work!

Here is what we have achieved so far. These numbers are evidence that we go the extra mile to make your college journey successful.

0+

Happy Clients

0+

Words Written This Week

0+

Ongoing Orders

0%

Customer Satisfaction Rate
image

Process as Fine as Brewed Coffee

We have the most intuitive and minimalistic process so that you can easily place an order. Just follow a few steps to unlock success.

See How We Helped 9000+ Students Achieve Success

image

We Analyze Your Problem and Offer Customized Writing

We understand your guidelines first before delivering any writing service. You can discuss your writing needs and we will have them evaluated by our dedicated team.

  • Clear elicitation of your requirements.
  • Customized writing as per your needs.

We Mirror Your Guidelines to Deliver Quality Services

We write your papers in a standardized way. We complete your work in such a way that it turns out to be a perfect description of your guidelines.

  • Proactive analysis of your writing.
  • Active communication to understand requirements.
image
image

We Handle Your Writing Tasks to Ensure Excellent Grades

We promise you excellent grades and academic excellence that you always longed for. Our writers stay in touch with you via email.

  • Thorough research and analysis for every order.
  • Deliverance of reliable writing service to improve your grades.
Place an Order Start Chat Now
image

error: Content is protected !!
1
Need assignment help? You can contact our live agent via WhatsApp using +1 718 717 2861

Feel free to ask questions, clarifications, or discounts available when placing an order.

Order your essay today and save 30% with the discount code UNRIVALED