The Trans Pacific Partnership, one of the biggest multinational trade deals ever, has been quietly signed by ministers from its 12 member nations in New Zealand.
The 12 nations account for some 40% of the world’s economy – they now have two years to ratify or reject the pact.
Not a word about it in our media.
“A trade deal is a contract, and it must be one that puts American workers’ interests first, not the interests of global elites,” Senator Sessions of Alabama said in a statement. “It is little surprise the administration is not showcasing today’s signing given its unpopularity with the American people.”
TPP will now be approved by Congress with an up and down vote – no amendments.
A Tufts University study found the TPP will cost nearly 450,000 American jobs in the next nine years.
The TPP involves the US, Japan, Malaysia, Vietnam, Singapore, Brunei, Australia, New Zealand, Canada, Mexico, Chile and Peru.
“TPP allows America – and not countries like China – to write the rules of the road in the 21st Century, which is especially important in a region as dynamic as the Asia-Pacific,” Barack Obama said.
We don’t know what’s in the final treaty but if Obama likes it, it can’t be good.