TPP Under Fire in the U.S. As Other Signatories Advance Towards Ratification
The Trans-Pacific Partnership (TPP) is taking a beating in the ongoing U.S. presidential election cycle, leaving some observers to wonder if it can survive such a political backlash against trade agreements. But as the leading candidates seem to compete for who can bash U.S. trade policies the hardest, other countries have been pressing forward to ratify the TPP since the deal’s signature in February.
In the U.S., chances are close to nil that the TPP could get ratified anytime soon. The White House is still seeking congressional support for the massive 12-country deal but the political environment could not be any more unfavorable. Presidential candidates are pointing to trade agreements as the root cause of economic inequality. For the Obama administration, things look grim in Congress as well. More and more lawmakers are coming out against the TPP, while others who had long championed the deal are now holding back their support over their stance that some of the provisions do not go far enough to protect certain industries. The soonest the TPP’s ratification vote may happen is during the “Lame Duck” period after November’s election.
But even as the United States stalls on the TPP, other countries are moving towards ratification. Below is a summary of how TPP is advancing outside the United States:
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