TPP Partners Reach Agreement in Core Elements of Trans Pacific Trade Deal

[Warhippy]

http://www.cbc.ca/news/politics/tpp-apec-summit-talks-1.4396984

 

The 11 Trans-Pacific Partnership countries have reached an agreement on "core elements" of the trade pact, namely that all countries will adhere to strict labour and environment standards, a development Canada is championing as a major breakthrough after talks broke down earlier Friday.

A final agreement in principle is still in the works because the countries have not settled on all aspects of the deal.

 

The original TPP, which is currently under renegotiation after U.S. President Donald Trump pulled America out of the deal, included strong provisions that demanded all member countries eliminate child and forced labour, adopt and maintain laws and practices governing "acceptable conditions of work," and uphold the right to collective bargaining.

But some countries, including Malaysia and Vietnam, sought to opt out of such provisions during the talks, something Canada felt was untenable. 

 

Canadian International Trade Minister Francois-Philippe Champagne speaks with the media in Danang, Vietnam. (Adrian Wyld/Canadian Press)

Those countries have now come back onside, International Trade Minister Philippe-François Champagne said, and have agreed to the terms of the original TPP.

"We got a better deal for Canada, we were also able to enhance the progressive elements — as the prime minister says you don't do trade in the 21st century like you did before," he said.

 

All countries have agreed now to implement regulations around minimum wages, hours of work and occupational safety and health, for example, something the original TPP called for.

Champagne said if a country does not adhere to these requirements as called for in the agreement, any country could haul another offending partner in front of a trade tribunal, and they would be subject to the dispute resolution process.

 

The 11 partner countries have now put "four specific items" aside to allow for further negotiations, notably chapters relating to rules of origin, which includes automotive parts, before a deal is signed.

"What we have achieved today is identifying the areas where work needs to be done," Champagne said.

Intellectual property provisions 'suspended'

 

The chapter relating to intellectual property has been "suspended," which means, in plain terms, that it will no longer be part of a renegotiated TPP, a victory for Canada as many companies — as well as Blackberry's former CEO, Jim Balsillie — were worried about those provisions. The intellectual property chapter, which essentially applied U.S. patent laws to other member countries, was originally demanded by the former Obama administration.

Canada is also pushing partners to change provisions relating to culture. Canada said the other 10 countries did "affirm the right of each party to preserve, develop and implement its cultural policies," but specifics have yet to be finalized.

 

"We all understand we need to do more on culture, I've said Canada will not settle for less. It was essential for me to fight for Canadian culture," Champagne said.

Some observers have warned the text of the original TPP, negotiated by the former Conservative government and ultimately signed by the Liberals shortly after they took office, would undermine the federal government's promotion of Canadian culture through funding for artists and financial support for film production, periodicals and public broadcasting.

The original TPP deal included weaker protections for cultural industries than in other trade treaties, including NAFTA and CETA, the Canada-EU free trade deal.

The preamble to TPP recognized the rights of countries to regulate certain sectors — public health, safety, the environment — but notably left cultural industries off the list, a departure for Canada, which, under governments of all political stripes, has pushed for a lot of leeway for federal and provincial governments alike to support cultural industries without fear of reprisal at a trade tribunal.

 

Earlier Friday, a planned meeting of TPP countries was unexpectedly cancelled after Prime Minister Justin Trudeau skipped the event when bilateral talks with his Japanese counterpart ended in disagreement.

Liberal government officials refuted international reports — notably from Australian and New Zealand news outlets — that suggested Canada alone was to blame for delayed TPP talks.

 

At the time, a spokesperson for the prime minister said there was no consensus between the 11 member countries.

 

Japan had been lobbying hard for the TPP pact, which aims to eliminate tariffs on industrial and farm products across an 11-nation bloc whose trade totalled $356 billion last year.

Japanese Economy Minister Toshimitsu Motegi said late on Friday that all 11 countries had now agreed on the plan to move ahead.

Canada, which has the second biggest economy among remaining TPP countries after Japan, had said it wanted to ensure an agreement that would protect jobs and was in no hurry.

Canada's position has been further complicated by the fact that it is simultaneously renegotiating the North American Free Trade Agreement (NAFTA) with the Trump administration.

At a speech in Danang, Trump set out a strong message on trade in which he made clear he was only interested in bilateral deals in Asia which would never put the United States at a disadvantage.

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Apparently the essentials still being argued are drug costs and patents and both canada and New Zealand are fighting tooth and nail to ensure they keep not only their copyright and intellectual property rights airtight but also fighting to kill or reduce the FIPA agreements in the plan which would allow for foriegn corporations to sue countries or entities within countries (ie special interest groups, provincial review boards) for blocking development or investment

 

**Updated

[JM_]

This is great for us. We desperately need to diversify from the US and this is a big step in the right direction, particularly with Japan. BC is set to benefit the most imo. 

[nuckin_futz]

59 minutes ago, Warhippy said:

Apparently the essentials still being argued are drug costs and patents and both canada and New Zealand are fighting tooth and nail to ensure they keep not only their copyright and intellectual property rights airtight but also fighting to kill or reduce the FIPA agreements in the plan which would allow for foriegn corporations to sue countries or entities within countries (ie special interest groups, provincial review boards) for blocking development or investment

Not surprised to hear New Zealand is making noise. New Zealand has a wacky new government. The recent elections there left NZ with a situation much like BC's last election. Neither main party could form a government so one of the loser party's with a handful of seats got to become a king maker.

 

They put their version of the NDP in power. The new PM of NZ is 36 year old Jacinda Ardem. She intends to spend like a drunken sailor and make radical changes like mandating no foreigners except Australians can purchase houses. 

 

https://www.bloomberg.com/news/articles/2017-10-31/new-zealand-to-slap-home-buying-ban-on-foreigners-to-ease-market

 

 

[aliboy]

Good job!!

[Canuck Surfer]

https://www.msn.com/en-au/news/world/canadas-pm-justin-trudeau-sabotages-trans-pacific-partnership-shocking-leaders/ar-BBENCaP?ocid=spartanntp

 

Its back on?

[Warhippy]

1 hour ago, nuckin_futz said:

Not surprised to hear New Zealand is making noise. New Zealand has a wacky new government. The recent elections there left NZ with a situation much like BC's last election. Neither main party could form a government so one of the loser party's with a handful of seats got to become a king maker.

 

They put their version of the NDP in power. The new PM of NZ is 36 year old Jacinda Ardem. She intends to spend like a drunken sailor and make radical changes like mandating no foreigners except Australians can purchase houses. 

 

https://www.bloomberg.com/news/articles/2017-10-31/new-zealand-to-slap-home-buying-ban-on-foreigners-to-ease-market

 

 

I've read some of their proposals and why they're coming up with the issues facing NZ.

 

Doesn't seem entirely bad honestly.  Especially the housing rules which will be very similar to Switzerland

[nuckin_futz]

21 minutes ago, Warhippy said:

I've read some of their proposals and why they're coming up with the issues facing NZ.

 

Doesn't seem entirely bad honestly.  Especially the housing rules which will be very similar to Switzerland

It never seems scary at the beginning because politicians have a way of making BS sound like butterscotch (like the proposed tax cuts/reform in the states). Then the policies are implemented and it's a raging financial disaster.

[Warhippy]

1 hour ago, nuckin_futz said:

It never seems scary at the beginning because politicians have a way of making BS sound like butterscotch (like the proposed tax cuts/reform in the states). Then the policies are implemented and it's a raging financial disaster.

Any time you're forced to take action to curtail investment or development to ensure the long term health of your country for the people in it there is going to be immediate initial hardship.

 

Medicine never tastes good

[JM_]

15 minutes ago, Warhippy said:

Any time you're forced to take action to curtail investment or development to ensure the long term health of your country for the people in it there is going to be immediate initial hardship.

 

Medicine never tastes good

just make sure you're not killing the patient 

[kingofsurrey]

1 hour ago, Jimmy McGill said:

just make sure you're not killing the patient 

The BC Liberals already killed the patient here in BC years ago.....  

[JM_]

3 hours ago, kingofsurrey said:

The BC Liberals already killed the patient here in BC years ago.....  

I know how entrenched you are on that idea so I won't try to debate it, but lucky for Horgan we may have secured more forestry markets for BC today. 

[kingofsurrey]

48 minutes ago, Jimmy McGill said:

I know how entrenched you are on that idea so I won't try to debate it, but lucky for Horgan we may have secured more forestry markets for BC today. 

That would be great news.  Lord know the  majority of BC and also Vancouver Island  could really use  some good news on the forestry industry. 

 

I was touring a mill / reman plant   a couple of weeks ago trying to establish a bit of relationship with the company.  I was surprised to learn how much product they ship  to Japan.