The TPP is dead in the water according to Canada's Foreign Affairs Minister Chrystia Freland. Speaking to reporters in Calgary after learning U.S. President Donald Trump withdrew from the 12-nation agreement on Monday.
"This agreement was so constructed that it can only enter into force with the United States as a ratifying country, So the TPP as a deal cannot happen without the United States being a party to it."
The deal between the 12 countries is sold as a free trade deal, however analyzing the finer points show that is not true. With it comes more managed trade between the countries involved.
With thousands of pages in the agreement, there is a complete management of the trade between all of these countries, which is good for some groups and bad for others.
The TPP would sacrifice national sovereignty, public health and internet freedom all in the name of profiting large international corporations. This agreement is corporatism (crony capitalism) at its finest.
It would allow multi-national companies to expand the monopoly powers of pharmaceutical patents. It would also allow them to block websites accused of violating copyright law.
A whole new set of rules regulating the economies of 12 different countries on 4 separate continents all separated by one large Pacific Ocean.
The partnership would encompass 40% of the world's GDP, which would make the TPP the single largest economic treaty ever.
The agreement has been negotiated almost entirely in secret with the help of hundreds of corporations lobbying to benefit their profits at the expense of others.
The best solution is free trade, but you can't get that by having bigger government, which the TPP requires in order to manage all the legality involved with the agreement.
The TPP protects special interests and does not help the free market. The TPP is so complicated that discussion between factions involved have been going on for more than 10 years now.
Wikileaks condemned the partnership in a press release after releasing classified documents about it that were not previously known to the public.
The documents revealed that companies can file a lawsuit if they believe to be losing profit or even have a lower expectation of profit due to changes in the "environmental, health or other regulatory objectives".
For instance, a tobacco company could sue a country because their anti-smoking regulations could potentially hurt their companies profits.
Obama's White House promised the deal would increase jobs, boost exports and lower tariffs on US products in Asia. However, economist Robert Reich said, "the TPP is a Trojan horse in a global race to the bottom".
The big problem with the deal is that it creates an international court that is not bound by the laws in any country, meaning, companies in Canada or the US will be bound by laws outside of their own sovereign country. This ultimately means more regulations for them to follow and more government to abide by. That is not at all Free Trade.
This leads us even further down the path of global governance, something we at Free Market Capitalism will constantly warn about. This program is enslavement and the TPP only trades your freedom away.
It only got passed because the public was ignorant as to what it was. Making an agreement several thousand pages long has the ability to do just that.
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