The Pros And Cons Of Trans-Pacific Partnership Agreement

The circumstances surrounding the signing of the Trans-Pacific Partnership agreement is not disastrous to the American economy and the people. The agreement has lots of advantages which will finally accrue to American industries, the people of America, global citizenry and to the economy in general. The agreement on free trade may be seen to expose the economy to the unstable global economy, but America has more to reap from than lose to the global economy. Ratification of this agreement will go a long way in addressing the challenges of lowering further the cost of life in America, increase growth in the American industrial sector, increase the capacity of law enforcement which labor organizations have failed to enforce and finally level the

America, working on the path of economic construction, signed such agreements such as North Atlantic Free Trade Area (NAFTA) and the Permanent Normalized Trade Agreement (PNTR). These treaties have both successes and failure regarding the purpose for which they were crafted. America witnessed failure especially regarding job losses because of lack of stringent follow-up mechanisms to ensure the protection of workers’ interests and provisions on minimum pay. Again because of lack of proper rules and mechanisms of enforcement, there has been the absence of a level playing field for American workers with other global work force. American companies, intent on employing cheap labor, have transferred productions elsewhere in the world thereby denying Americans job opportunities. The two scenarios have created a ripple effect that emanates from the absence of mechanisms to enforce laws of the agreement. The Trans-Pacific Partnership agreement is however built on strong and institutionalized rules with which follow-up is easily done to establish a violation. On the other hand, through the economic agreements, the Americans have had a lot to celebrate. One such is reduced the cost of life which is occasioned cheap factors of production resulting from the free flow of factors of production across the

and is aimed at uplifting the conditions of labor for member countries of the agreement. For instance, signatories must respect, adopt, maintain and put into force the five basic labor principles of International Labor Organization (ILO). The effective recognition of the right to collective bargaining and the abolition of child labor are some of the principles that are the agreement emphasizes. Additionally, countries must work toward the elimination of discrimination in employment and occupation, abolish child labor and bring the freedom of