Washington, D.C. – The much maligned Trans-Pacific Partnership (TPP), a darling of the neoliberal establishment on both the left and the right, is dead in the water after President Trump signed an executive order withdrawing the US from the controversial free-trade pact.
The TPP was the largest global trade agreement since NAFTA, and would have included the United States, Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam. Essentially the TPP was a policy move by the U.S. meant to create a trade bloc as a means of countering rising Chinese economic might — under the guise of an “Asian pivot” – but that was seen by many Americans as a give away to large multinational corporations.
Here is a short primer on the TPP and its partner legislation the Transatlantic Trade and Investment Partnership (TTIP), which reveal exactly how these deals were meant to operate:
Much of what the public knows about this secretive trade pact comes from leaks provided by the whistleblower organization WikiLeaks. If not for the information Wikileaks has provided, the public would be even more in the dark than they currently are, as to the details included within these trade deals.
Hillary Clinton was a supporter of the TPP, before later claiming to be against it, while her rival in the for the Democratic presidential nomination, Vermont Senator Bernie Sanders, railed against the trade pact on a regular basis as something that would hurt American workers.