Here’s how the US could have benefitted from TPP

SINGAPORE (Feb 2): Contrary to what the Trump Administration believes, the Trans-Pacific Partnership (TPP) would have been beneficial to all of its signatories, including the US, had it been signed, sealed and delivered.

For starters, the signatory economies, which also include Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam, collectively account for 40% of global gross domestic product.

In a Wednesday, Moody’s Investors Service pointed out that the TPP had been more far reaching than other free trade agreements. For instance, the TPP set standards in areas relating to intellectual property rights, government procurement, environmental and labour conditions and corruption prevention, apart from the typical reduction and elimination of tariffs.

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