New life for Trans-Pacific Partnership

Just when it appeared that agreement among participants comprising the Trans-Pacific Partnership (TPP) would not be reached this year, spokesmen announced that recent discussion rounds in Atlanta produced consensus.

As reported in LM, shippers have been championing this deal even as it appeared “dead in the water” this past summer. The National Association of Manufacturers (NAM) was especially bullish on this proposition:

“The TPP negotiations have long presented a lot of hope for manufacturers in the United States and the millions of jobs they impact,” said Linda Dempsey, NAM’s Vice President of International Economic Affairs. “If done right, this agreement has the potential to boost U.S. manufacturing growth and global competitiveness.”

Now that the US, Japan and 10 other Pacific Rim economies have reached agreement to strike the largest trade pact seen anywhere in a generation, it is up to President Barack Obama to convince Congress that the deal is in our best interests.

Shippers here understand, however, that the TPP will create a new Pacific economic bloc with reduced trade barriers for products as diverse as food, textiles, and mega-data. Furthermore, logistics managers will finally be able to benefit by adhering to common standards on labor and the environment thereby creating a more sustainable investment strategy for the Pacific Rim.