Tuesday, October 6, 2015

Trans-Pacific Partnership deal signed

Sounds like another one of those deals that we have to wait to see the details until after all countries have passed this 'treaty' by their respective governments.

However, the US and Canada have already released official statements trumpeting this historical deal.  Take a look:

From the DoD:


Statement from the Secretary of Defense Ash Carter on the Trans-Pacific Partnership:

Press Operations

Release No: NR-386-15 October 5, 2015
I want to congratulate Ambassador Michael Froman and the U.S. negotiating team for reaching a historic trade agreement with the 11 other Asia-Pacific nations that make up the Trans-Pacific Partnership (TPP).
American military strength rests on the foundation of a vibrant economy. TPP will bolster strong economic growth by boosting exports and increasing access to growing markets. As President Obama has said, and as I've made repeatedly clear, TPP also makes strong strategic sense as a critical piece of our rebalance toward the Asia-Pacific. Our strategy is to promote an Asia-Pacific regional security architecture where everyone rises and prospers. By building partnerships through principle, openness, and high standards, TPP will help reduce regional instability and cement American influence and leadership in this fast-growing region in the world.

The CBC reports on the deal:
Trans-Pacific Partnership: Officials claim it's a win for auto sector

Auto Parts Manufacturing Association of Canada calls deal 'reasonable'
CBC News  Oct 05, 2015 

The Trans-Pacific Partnership is a win for the Canadian auto sector, say government officials after negotiating that 40-45 per cent of imported cars and auto parts be made in one of 12 TPP countries.

Foreign affairs officials claimed Monday they had "protected the auto sector" in the new deal with 11 other Pacific Rim countries, stipulating 45 per cent of imported vehicles and core parts will originate in a TPP country; and 40 per cent of other auto parts will have to originate in a TPP country.

Under the North American Free Trade Agreement, the rule is that 62.5 per cent of the value of cars and 60 per cent on auto parts imported from a NAFTA country must be made within the NAFTA region.

"Let's be absolutely frank and clear. Canada's automotive sector is an export-based industry," Prime Minister Stephen Harper said in a TPP briefing to reporters in Ottawa. "Our view is the rules that we've achieved mean that our automobile industry is going to have unprecedented access to the global market."...

No comments: