The TPP Is Finalized: 5 Things You Should Know About The Trans-Pacific Partnership

The TPP–also known as the Trans-Pacific Partnership–is the type of complex legislation that resists commentary and tends to fly under the radar. The consensus at the Wall Street Journal is that TPP is going to pass through Congress easily, which in and of itself should garner the interest of the commentariat. But trade deals tend to be indigestible and difficult for the public to understand. So we’ll try to make this as simple as possible.

Negotiations were finalized on Monday–whether or not the Trans-Pacific Partnership will pass through Congress and the Senate remains to be seen, although apparently Republicans have agreed to fast-track the bill.

    1. What is the TPP?
      The Trans-Pacific Partnership–also known as the TPP–is a trade agreement being brokered between 12 countries–some have compared it to NAFTA, CAFTA or the PNTR. Democratic proponents of the deal tend to downplay those types of comparisons but they can hardly deny that TPP is, in fact, a big, fat free trade agreement with a group of Pacific nations.

      Note that China doesn’t appear on the list, but pretty much every other major industrial presence in the Pacific is. What’s up with that? Beijing wants in to the TPP, but for the time being the U.S. is working on a more basic trade treaty with China. President Barack Obama argued that the TPP will put pressure on China and other fast-growing Asian countries to accept American-influenced business regulations—not China’s rules. Watch the video below to Obama making this argument.