http://www.nytimes.com/2015/10/06/bu...s-reached.html
The trade deal has immense strategic, geopolitical, and economic implications. China is not yet a partner, but has previously expressed interest and certainly has monitored developments. The TPP would set the rules of Pacific trade in a framework agreed upon by a the following:
US
Japan
New Zealand
Australia
Canada
Mexico
Chile
Peru
Vietnam
Malaysia
Singapore
Brunei
Among the notable provisions already released:
-All countries commit, at a minimum, to the labor standards of the International Labor Organization.
-All countries will prohibit wildlife trafficking and illegal/unsustainable fishing & logging, and will protect certain wildlife species.
-A committee will be focused on helping small businesses navigate international trade.
-Detailed, industry-specific compromises are reached on agriculture, pharmaceuticals, automobiles, and other sectors.
-The US Trade Representative claims that 18,000 tariffs will eventually be eliminated between these 12 partners.
Congress will have to give the deal an up-or-down, majority vote under the TPA.
US Presidential candidates will have to take positions on the deal, which is probably the most significant free trade deal ever created.
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