Trans-Pacific Partnership

[Kurth]

I wonder if all the people clamoring for the death of TPP (and NAFTA) have any idea how much of the stuff they buy comes from overseas. I don't really get it. That's common knowledge right? Do they not realize that free trade makes things cheaper? These same people LOVE their things. Those things are all going to cost a shit-ton more, whether because they are subject to crushing tariffs or because, in their dreams, companies completely uproot their supply chains and start manufacturing everything in the good old U S of A.

Thinking pragmatically, Trump's antipathy to free trade is one of the things that maybe scares me the most.

I thought this Bloomberg article was a pretty good read.

[Max Peck]

Countering global protectionism, Pacific trade pact nears takeoff

A landmark 11-country deal that will slash tariffs across much of the Asia-Pacific region will come into force at the end of December, New Zealand said on Wednesday, a rare bright spot for global commerce as the U.S.-China trade war intensifies.

The deal moved forward after Australia become the sixth nation to formally ratify the deal, alongside Canada, Japan, Mexico, New Zealand and Singapore.

“This triggers the 60 day countdown to entry into force of the Agreement and the first round of tariff cuts,” said New Zealand Trade and Export Growth Minister David Parker. His country is responsible for official tasks such as receiving and circulating notifications made by members of the pact.

The original 12-member deal was thrown into limbo early last year when U.S. President Donald Trump withdrew from the agreement to prioritize protecting U.S. jobs..

The remaining nations, led by Japan, finalised a revised trade pact in January, called the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

[Pyperkub]

ONe wonders if they kept the US SOPA/PIPA provisions in the update....

[LordMortis]

I am still an opponent of the TPP but it's looking a whole lot better to be a part of than to be insisting on keeping my ball at home right now.

[El Guapo]

I am still an opponent of the TPP but it's looking a whole lot better to be a part of than to be insisting on keeping my ball at home right now.

That sounds like you are not in fact an opponent of the TPP, just unhappy with some of its provisions.

[Max Peck]

ONe wonders if they kept the US SOPA/PIPA provisions in the update....

I don't know the specific details regarding SOPA/PIPA concerns, but it sounds like at least some concessions to US interests in areas like IP have been dropped.

The suspended provisions lessen slightly the scope and reach of CPTPP as compared to TPP. In the IP chapter particularly, the stringent requirements that the United States pursued in technological protection measures (TPMs), rights management information, encrypted satellite and cable signals, and safe harbors for internet service providers (ISPs) have all been removed. The suspension of longer patent periods for innovative medicines is a blow to U.S. pharmaceutical companies, and shorter periods for copyright protection now deviate from the American standard. In the investment chapter, the decision to suspend provisions related to investment agreements and investment authorizations means such investments will not necessarily be covered under investor-state dispute settlement and are therefore marginally riskier for foreign investors.

Even with these provisions suspended, however, the IP chapter offers the most advanced and detailed standards on intellectual property in a trade agreement to date. It gives substantial protections to companies operating abroad from having their innovations stolen.

[LordMortis]

I am still an opponent of the TPP but it's looking a whole lot better to be a part of than to be insisting on keeping my ball at home right now.

That sounds like you are not in fact an opponent of the TPP, just unhappy with some of its provisions.

In the way back machine before we commit and then reneged on our commitment, I never would have joined what was put before us. Back then, our leverage and relationship to the situation was totally different. There was no talk of trade of wars leaders throughout the world weren't going arbitrary on tariff and specifically our Congress was stepping up if the president was trying to implement tariffs without demonstrably showing US security was at risk and NAFTA was stable.

Today, the world has the ability and more importantly the motivation to say "we don't need you and we sure don't want whatever it is you are doing." The reality of 2018 makes me into a hostage for accepting TPP. Quite frankly, if NAFTA was as rock solid as should be, I'd still be an opponent, even in light of Mr Trade War being indulged his literal insanity. I'm still dumbfounded that he could break NAFTA and has been allowed to do so. I still don't understand what happened.

[Pyperkub]

ONe wonders if they kept the US SOPA/PIPA provisions in the update....

I don't know the specific details regarding SOPA/PIPA concerns, but it sounds like at least some concessions to US interests in areas like IP have been dropped.

The suspended provisions lessen slightly the scope and reach of CPTPP as compared to TPP. In the IP chapter particularly, the stringent requirements that the United States pursued in technological protection measures (TPMs), rights management information, encrypted satellite and cable signals, and safe harbors for internet service providers (ISPs) have all been removed. The suspension of longer patent periods for innovative medicines is a blow to U.S. pharmaceutical companies, and shorter periods for copyright protection now deviate from the American standard. In the investment chapter, the decision to suspend provisions related to investment agreements and investment authorizations means such investments will not necessarily be covered under investor-state dispute settlement and are therefore marginally riskier for foreign investors.

Even with these provisions suspended, however, the IP chapter offers the most advanced and detailed standards on intellectual property in a trade agreement to date. It gives substantial protections to companies operating abroad from having their innovations stolen.

I"m pretty sure the removal of the TPM and Rights Management items would cover most of the really disturbing pieces of SOPA/PIPA which was shoehorned in after the internal outcry. However, the Safe Harbor provision yanking could be concerning.

Overall, it looks like a better deal without the US-imposed provisions though.