TPP (trade relationships) Flashcards
has the TPP come into action yet?
no
how many countries are in the TPP and when was it signed?
12
2016
what % of world trade do the countries involved make up?
40%
why was the agreement created?
to attempt to create a new single market
something like the EU
when did the US pull out of the TPP?
in 2017 by order of Donald Trump
can the agreement work without the US?
by january 2018 at least six countries need to sign that make up 85% of the groups economic output
without the us this is not possible
japans prime minister said it would be meaningless
what collective population do the countries have?
800 million
what did tariff aim to do?
get rid of or lower tariffs on trade especially on agricultural and industrial products
what would be the significance of the trade deal?
it would be the largest free trade area in the world
what has changed with the US in terms of the TPP?
they now want to be apart of the bloc
if they sign now still have to wait a year and still need votes form every country
