If completed, the Trans Pacific Partnership would reduce tariffs and trade rules among the countries involved. Supporters say that would increase economic growth.
FILE - Acting Deputy U.S. Trade Representative Wendy Cutler (L) is greeted by her Japanese counterpart Hiroshi Oe (R) before their talks of the Trans-Pacific Partnership (TPP) free trade negotiations at the Foreign Ministry in Tokyo, July 9, 2015. |
American opponents to the deal say it would do too little to protect human rights, the environment and
Richard Trumka is president of the AFL-CIO labor organization. In his words, the TPP "is full of stuff that is bad for working people, bad for the environment, bad for food safety."
Reduced tariffs on imports can increase exchanges and expand economic growth because trade becomes less costly. The TPP new deal cuts rules and laws that make it difficult for goods from one nation to be sold in another.
Charles Morrison is president of the East-West center in
He told VOA the deal would likely disappoint some business groups, environmental activists or others who wish officials had negotiated more. Mr. Morrison also said failing to make a deal would deny consumers in many countries the benefits of cheaper, more efficient trade
Observers say many issues still need to be worked out to reach a deal. The
Trade ministers are set to hold a press conference on Friday, July 31, to announce the results of the talks in
I’m Ashley Thompson.
Words in This Story
tariff – n. a tax on goods coming into or leaving a country
standard – n. a level of quality, achievement, etc., that is considered acceptable or desirable
encourage – v. to make (something) more appealing or more likely to happen
disappoint – v. to make (someone) unhappy by not being as good as expected or by not doing something that was hoped for or expected
consumer – n. a person who buys goods and services
cheaper – adj. of lower cost
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