Australian Labor Party Threatens to end TPP

by
Anonymous Coward
in legal on (#3E7QB)
With the TPP revived several countries are now deliberating whether or not to accept the controversial trade agreement from which the US pulled out of. The Australian Labor Party has signaled that it will block Australia from adopting the TPP unless it passes interdependent modelling for worthiness. While the Australian Prime Minister believes that the TPP would create thousands of jobs" the opposition is not convinced saying to Treasurer Scott Morrison that he should start acting like a treasurer saying “If it’s a good deal for Australians, let’s see the evidence, and we’ll back it 100 per cent. If it’s a dud deal, then the worst that’s happened is we’ve stopped a dud deal from going through.". Given that before the TPP first fell through the benefits were calculated as being minimal with significant determinable conditions it is unlikely that an independent review of the TPP in its current form will pass.
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US may want back in (Score: 0)

by Anonymous Coward on 2018-01-26 08:01 (#3EAN0)

http://www.smh.com.au/federal-politics/political-news/malcolm-turnbull-to-discuss-trade-with-donald-trump-after-us-president-reopens-door-to-tpp-20180126-h0one3.html

"Australian farmers will be able to sell more beef, cheese, wheat and rice to Japan and more sugar to Canada and Mexico."

The Greens are still against it: "The original deal gave multinationals the power to override the will of the Australian people by allowing corporations to sue governments, even when a government is acting in the interest of the community," the party's trade spokeswoman Senator Sarah Hanson-Young said. "It has no protection for local content and Australian creative industries. If this zombie TPP is anything like what was originally proposed, it should have been left dead, buried and cremated."

and we still don't know what we're getting into http://www.smh.com.au/federal-politics/political-opinion/how-about-showing-us-the-tpp-deal-were-about-to-sign-20180124-h0ntni.html

"Australia's national income would eventually be 0.5 per cent higher, a gain of less than half of one-tenth of a per cent per year."

That's not much considering the cost. "enforced protections for the owners of pharmaceutical patents and extensions to copyright law." which is what America wants as it moves away from primary industries.