The Trans-Pacific Partnership (TPP) and The North American Free Trade Agreement
There are two economic based questions below and I expect economic based answers. I realize there were political aspects and wrangling over these topics but I want discussions focused on economic factors. Essays and responses are not to include definitions, historical perspectives, talking points, or personal attacks. References to individual must include a title where applicable, i.e., President Clinton, not Bill Clinton; Vice President Gore, not Al Gore.
For your discussion essay, thoroughly answer at least two questions from both the Trans-Pacific Partnership (TPP) question and the North American Free Trade Agreement (NAFTA) question.
President Trump has withdrawn the United States from inclusion in the Trans-Pacific Partnership (TPP).
What does this mean for the United States?
What impact will this have on the remaining countries?
What countries win; what countries lose?
Compare and contrast some of TPP’s good and bad points.
Would this have been a good agreement for the American worker?
Would this have been a good agreement for the American consumer?
How would have implementation of TPP impacted the United States balance of trade and trade deficit?
If you were the sole decision maker for the implementation of TPP, what would you have done and why?
President Trump wants to renegotiate The North American Free Trade Agreement (NAFTA).
What do you see as short-term and long-term trade effects?
Is renegotiation good for the American worker?
Is renegotiation good for the American consumer?
How will renegotiation of NAFTA impact the United States balance of trade and trade deficit?
How will renegotiation impact union labor?
How will renegotiation impact employment?
What sectors will be benefited?
What sectors will be impacted?
If you were the sole decision maker for the possible renegotiation of NAFTA, what would you do and why?
Essays should be sufficient in length to fully address the discussion question. Discussion posts are to be economically sound, grammatically correct, proofread, and logical; no Instant Message text. Use of the textbook, Encyclopedia, Wikipedia, Econopedia, or similar …pedia’s as a reference in any cited work results in an automatic two-grade level deduction.
Solution Preview
TPP and NAFTA
For the United States, the decision to opt out of the TPP agreement could have far-reaching effects for the economy. According to the trade department (Office of the United States Trade Representative), the country stood to gain more than $130 billion annually as long as it was within the partnership and the different countries involved implemented the policies to which they all agreed while signing the partnership. Nonetheless, the other countries remaining within the agreement stand to gain from the increased trade volume resulting from an improvement in tariff policies. However, the TPP agreement had different impacts on the countries involved. For instance, the United States would lose significantly by giving access to Japan for the NAFTA market, implying that NAFTA could have ended up purchasing more of Japan’s vehicular products than it would have purchased the American products. In this case, Japan would have been the winner, while America would lose.
(625 words)