Note that upon the formal withdrawal of the United States, one of the first acts of the Trump administration, there is no path to activation of TPP. Though the signatories might propose a new similar venture, the Transpacific Partnership itself must be regarded as DOA.
“The TPP sets a strong regional standard for the protection and enforcement of IP rights. This will give Canadian businesses and investors confidence that they will face the same set of rules across all TPP markets.
“At the same time, Canada recognizes the importance of ensuring that its IP regime balances the interests of both rights holders and users to achieve its broader public policy objectives in the interest of all Canadians.”
“The Agreement provides the opportunity to raise and improve labour standards and working conditions in TPP member countries through an ambitious level of obligations to ensure that national labour laws and policies in partner countries respect international labour standards.
“Canada is committed to fundamental labour rights, and supporting high labour standards through a fully enforceable TPP Chapter is a key part of that commitment.”
“The inclusion of environmental commitments in free trade agreements provides assurance that any increased economic activity as a result of the Agreement will not occur at the expense of environmental protection.”
“Dispute resolution mechanisms provide recourse to an impartial panel of experts, allowing governments to effectively settle issues between them. This ensures predictability and fairness in resolving these disputes.
“It is that predictability and fairness in the trading system that provides Canadian companies with the ability and confidence to expand abroad.”
“In the event that this Agreement does not enter into force under paragraph 1 or 2, it shall enter into force 60 days after the date on which at least six of the original signatories, which together account for at least 85 per cent of the combined gross domestic product of the original signatories in 2013, have notified the Depositary in writing of the completion of their applicable legal procedures.
The US has the largest GDP by far of all the TPP signatories, such that “at least 85% of the combined GDP of the original signatories” cannot be achieved without US participation.
If the US does not ratify, the treaty cannot come into force.
© 2017 Ron McKinnon. All rights reserved.