US withdraws from the TPP

So President Trump has withdrawn from the trans pacific partnership agreement. Is this good news or bad news for the American people?

http://www.aljazeera.com/news/2017/...fic-partnership-tpp-deal-170123170334145.html

As far as I know the TPP was a net positive for free trade, so the repeal will disappoint many on both the left and the right. But I dont have too much of an opinion on it because i hear a bunch of things about it on both sides of the spectrum, but I haven't actually looked into the deal myself. Considering I'm pro-free trade, I should like the TPP, but at the same time, many pro-free traders dont like it. Ill have to look into it more. For now, I'm leaning the side being disappointed with Trump on this issue.

It was a bad deal because it meant that businesses could override the laws of governments, particularly environmental regulations and worker protections, if they argued that those laws hurt their "potential earnings" or some such drivel. Businesses have no accountability and aren't democratic so.

The main point of the trade agreement was to set rules and standards -including quality standards, environmental rules and the like- which many signataries in the South Pacific like Vietnam could do well with; and second, it was supposed to force China to follow those rules by making most of its major trading partners follow them- so the Chinese would be forced to comply in order to be allowed to export. Without it, China has full reign to force itself on everybody else in its backyard- and I'm sure that their rules will be worse for the world and society in general than anything the US, Canada and Japan came up with.

There is a good critique of trade agreements (how to solve disputes, taking power away from multinationals), but Trump didn't break this one for any of those reasons and will do nothing to fix them. So we'll get the worst of both worlds- no control over multinationals and China doing whatever they please.

BadSheep said:

As far as I know the TPP was a net positive for free trade, so the repeal will disappoint many on both the left and the right. But I dont have too much of an opinion on it because i hear a bunch of things about it on both sides of the spectrum, but I haven't actually looked into the deal myself. Considering I'm pro-free trade, I should like the TPP, but at the same time, many pro-free traders dont like it. Ill have to look into it more. For now, I'm leaning the side being disappointed with Trump on this issue.

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Edit: I was thinking about TTIP, which is hated in Britain, as such, my comment is void.

While everyone disliked TPP, because of its regulations or lack thereof, I can't help but think of Trump as bad for doing this. I know it should make me happy, but I guess he's poisoned his own well for someone like me.

But at least he's done one thing right. Let's hope he doesn't stray from this.