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Pros And Cons Of TPP

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What is TPP?
Trans-Pacific Partnership or the TPP would create the world’s largest free-trade zone among 12 nations around the pacific. The participating countries account for 40 per cent of the world’s economic output.
The article gives out information on TPP that created a free-trade area spanning from Chile to Japan and gives a primer on what it is, how Canadian industries could be affected and what the federal leaders propose to do about it. (Curry)
The data is sourced from the reports of Globe staff and the Canadian Press and some of the data is from the international news agency Reuters. The Globe is a known and trusted source of information. It has been #1 newspaper and has been printing since 170 years now. Reuter is also a trusted …show more content…

There was not much of information given out until now and the text of the agreement is still under legal review. The article gives the views and opinions of both the sides – the government and the industry. I learned that the agreement has many different parts and all the things agreed upon have been well thought of before signing it. For example, Canadians are known for their ice wine and Canadian whisky and it seems that the Canadian government has put a lot of pressure on other countries to drop the tariffs. Australia and New Zealand will drop duties on Canadian wine right away, while japan will do it within the next seven years. This will provide a boost to the Canadian wine …show more content…

For example, The Canadian Vehicle Manufacturers will suffer when Canada will give duty free access of vehicles to Japan within five years. The Canadian dairy farmers had also pleaded the government to not give up their supply management but clearly other TPP members forced Canada to bring down the tariffs. Ottawa showed their support by saying it would pay $4.3 billion over 15 years to dairy, chicken and egg farmers affected by the TPP or Canada’s free-trade deal with European Union. However, the consumers would benefit from this treaty as they will have various different choices available. Also, the market price will go down due to the increase in supply and the competition in the

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