One thing in our economy that has benefits and downsides is the Trade Pacific Partnership (TPP). It is an agreement between the countries Malaysia, US, Japan, Vietnam, Singapore, Brunei, Australia, New Zealand, Canada, Mexico, Chile, and Peru that eliminates tariffs and overall boosts the economy of the countries. Both candidates are against it, but Hillary Clinton hasn’t grabbed her axe yet while Donald Trump has already chopped down the tree. It is already in effect for Brunei, Chile, New Zealand, and Singapore, but should it come into effect for us? Here are 3 reasons why we should pass the TPP.
First of all, it helps smaller businesses. It includes a chapter just dedicated to having smaller businesses benefit. Almost all (98%) of all American businesses that export their goods are small or medium businesses. However, only 5 percent of small businesses export. The TPP will crush barriers such as high taxes, complex paperwork, corruption, and other restrictions. The TPP will help small businesses export more.
Second of all, it helps protect the environment. It has the highest environmental standards any agreement to do with trade has ever had. It requires al members of the TPP to cot practice illegal logging, fishing, wildlife tracking, and some harmful substances. It also makes the twelve counties enforce long-term conservation of many marine species and some land animals suck as rhinos and elephants.
Lastly, it eliminates 18,000 tariffs that other countries put on products made in America. However, this will not include all taxes though. Only all US manufactured products and all US agricultural products will be affected. This will help our businesses grow and expand easier. It will also help smaller businesses grow to compete with larger ones.
Overall, the Trade Pacific Partnership will be very helpful to the American economy. With benefits for small businesses, environmental protection, less taxes, and many more benefits, it will help. It will help so many people across so many countries. I honestly don’t think that the next president will choose to enforce this. Donald Trump will almost for sure not enforce it, and Hillary Clinton only has a chance of enforcing it. Still, I hope that the next president will decide to enforce it.