Trans-Pacific Partnership (TPP) and the North American Free Trade Agreement (NAFTA), economics homework help

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Fhyv1994

Economics

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There are two economic based questions below and I expect economic based answers. I realize there were political aspects and wrangling over these topics but I want discussions focused on economic factors. Essays and responses are not to include definitions, historical perspectives, talking points, or personal attacks. References to individual must include a title where applicable, i.e., President Clinton, not Bill Clinton; Vice President Gore, not Al Gore.

For your discussion essay, thoroughly answer at least two of the below questions from both the Trans-Pacific Partnership (TPP) question and the North American Free Trade Agreement (NAFTA) question.


President Trump has withdrawn the United States from inclusion in the Trans-Pacific Partnership (TPP).

  1. What does this mean for the United States?
  2. What impact will this have on the remaining countries?
  3. What countries win; what countries lose?
  4. Compare and contrast some of TPP’s good and bad points.
  5. Would this have been a good agreement for the American worker?
  6. Would this have been a good agreement for the American consumer?
  7. How would have implementation of TPP impacted the United States balance of trade and trade deficit.
  8. If you were the sole decision maker for the implementation of TPP, what would you have done and why?

President Trump wants to renegotiate The North American Free Trade Agreement (NAFTA).

  1. What do you see as short-term and long-term trade effects?
  2. Is renegotiation good for the American worker?
  3. Is renegotiation good for the American consumer?
  4. How will renegotiation of NAFTA impact the United States balance of trade and trade deficit.
  5. How will renegotiation impact union labor?
  6. How will renegotiation impact employment?
    1. What sectors will be benefited?
    2. What sectors will be impacted?
  7. If you were the sole decision maker for the possible renegotiation of NAFTA, what would you do and why?

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Explanation & Answer

Attached.

TPP AND NAFTA

1

TPP AND NAFTA
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TPP AND NAFTA
President Trump has withdrawn the United States from inclusion in the Trans-Pacific
Partnership (TPP).
What this means for the United States is that it loses a crucial opportunity to promote its
exports effectively, reduce the trade barriers involved in opening up new markets and loses on
protecting the American inventions and innovations. In essence, the country’s business will lose
access to prospective markets. President Trump’s decision to withdraw the U.S from TPP carries
broad economic implications in a regional bloc that was rapidly developing. The deal, which was
meant to provide economic links among several nations from Canada and Chile to Japan and
Australia in a complex network of trade rules, was a way to tying the United States to the East
Asia and build an economic barricade against the rising China. Without the U.S, the partnership
is less beneficial to the remaining countries, since they need a viable market for their exports, of
which the U.S provided a big share. Therefore, they are likely to enter into trade agreements with
China. The countries that win in this move include Mexico, Peru, Chile and Canada as they
would no longer face competition from the U.S suppliers. Countries that lose include Vietnam
...


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