The TPP text was the result of 500 official U.S. trade advisers who represented corporate interests involved in years of closed-door negotiations, while the public, the press, and Congress were blocked. The patent agreement would have reduced the availability of cheap generic drugs. It could have taken time for a lot of medications. Competitive pressure from companies would have reduced incentives in Asia for environmental protection. Last but not least, the trade agreement could have replaced the financial rules. The Transatlantic Trade and Investment Partnership, now commonly known as TTIP, is an agreement to reduce tariffs and regulatory barriers to trade between the United States and EU member states. The negotiations are at an earlier stage. But given President Trump`s hostility to trade deals in general, it`s unlikely that he`s also clear for this veil alone. The EU is trying to conclude trade agreements with each TPP country: discussions have taken place since 2013 for a free trade agreement between the EU and Japan, and in 2015 the EU presented its new strategy for improving trade in the Asia-Pacific region entitled „Trade for All“. [171] This partnership compares the conditions of competition for our farmers, ranchers and producers by removing more than 18,000 taxes imposed on different countries on our products.

It contains the strongest labour and environmental commitments of a trade agreement in history, and these commitments are enforceable, unlike previous agreements. It promotes a free and open internet. It strengthens our strategic ties with our partners and allies in a region that will be crucial for the twenty-first century. It`s a deal that puts American workers first and will help middle-class families move forward. All state-owned enterprises are committed to global trade standards that protect their workers and the environment. The United States had to overcome the objections of Vietnam, Brunei and Malaysia. The World Bank found that the TPP agreement, if ratified by the signatories, could increase member states` GDP by an average of 1.1% by 2030. It could also increase Member States` trade by 11% by 2030 and boost regional trade growth, which had slowed from around 10% in 1990-1907 to around 5% on average in 2010-14. [153] The World Bank notes that the agreement will raise real wages in all signatories: „In the United States, for example, real wage changes are expected to be small, since wages for unskilled and skilled workers will increase by 0.4% and 0.6% respectively by 2030.