The Trans-Pacific Partnership (TPP) is a trade agreement among 12 Pacific Rim countries. Like other trade deals in the past, this new agreement aims eliminate hundreds of taxes and tariffs between member countries and make trade easier and efficient effectively benefiting all members.
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The US will be the largest trade partner within the TPP countries.
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TPP countries account have a combined GDP of about $28 Trillion or about 40 percent of the world GDP. They also account for one-fourth of total global exports. So the numbers related to TPP are huge.
Since some countries such as the US runs trade deficits with countries like Vietnam and Japan. From an employment perspective, TPP can generate well-paying middle-class jobs for American workers since US exports to other TPP partners will grow. Higher imports from TPP countries will also benefit consumers in the US.
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