Question

Explain how the presidential candidates Donald Trump and Hillary Clinton address Obama's suggested Trans-Pacific Partnership (TPP).

Respond with a minimum of 50 words.

Answer 1

Before going to the actual answer, let me explain to you what Trans-Pacific Partnership (TPP) is.

Trans-Pacific Partnership (TPP) is a trade agreement or deal among 12 countries. The members of this deal along with United States of America are: Australia, Chile, Canada, Brunei, Japan, Mexico, New Zealand, Malaysia, Singapore, Peru and Vietnam. The main objectives and goals of this deal are to promote economic growth through trade and by strengthening trade relationships among member countries by eliminating or reducing tariffs; to generate better opportunities for businesses and to create more employment opportunities.

This deal was signed on 4^th February, 2016 by all the members. The then President of USA, Barack Obama signed this agreement and he was in an opinion that this deal would bring more job opportunities and strengthens the trade relationships among the members of the deal. He was a strong supporter of Trans-Pacific Partnership (TPP).

Now coming to the actual answer,

Donald Trump’s views on Trans-Pacific Partnership (TPP)

Donald Trump had been totally against the Trans-Pacific Partnership (TPP), from the time it was signed by Obama in 2016 and even before that. Trump was more in favor of bilateral trade negotiations, rather than multilateral trade deals. He opined that TPP would benefit other members more than US. It will create a back door for currency manipulating countries like China (He mentioned example of China, although China is not part of this deal) to dump their cheap goods into US. He opined that this deal will force US workers to compete with countries like Vietnam, which is one of the countries with lowest wage rate in the world. He said that this deal is a big threat to their sovereignty also, because this deal will give opportunity to new international body to make decisions and enforce them on USA. He was in favor of fair trade instead of free trade. He said that this agreement will not provide any good job opportunities and it will not help in creating wealth and raising economic growth. He termed this deal as a disastrous deal. He promised that as soon as he assumes charge as president he will sign on a memorandum to withdraw membership of USA in Trans-Pacific Partnership (TPP).

Hillary Clinton’s views on Trans-Pacific Partnership (TPP)

In case of Hillary Clinton, initially, when she was secretary of the state, she was in favor of Trans-Pacific Partnership (TPP) and he supported it along with the then President, Barack Obama. At one point of time she praised this deal, saying that, it is going to set the gold standard in agreements of trade, with more transparent, free and fair trade and it will create wonderful environment with level playing field for all the member countries. She further said that the member countries account for more than 40% of total trade in the world and this deal will build good environment for workers as well. In some instances, she said that a good trade deal should provide more jobs and increase wages, and economic growth and protection of country, without mentioning about Trans-Pacific Partnership (TPP). Later on Hillary Clinton changed her stance on Trans-Pacific Partnership (TPP) and said that she would support TPP if some modifications are done in the deal. Later on she spoke totally against TPP, she told in many interviews and campaigns, that she was against (TPP), further as the elections were approaching near, she clearly said that there are no good standards in the deal and she will never support it, neither before the election nor after the elections.

Current condition of Trans-Pacific Partnership (TPP).

On 23^rd January, President Donald Trump signed a memorandum, saying that United States is withdrawing from TPP negotiations. Now the future of the TPP is in jeopardy, since the US came out of TPP.