Trump highly likely to abandon Trans-Pacific Partnership

Trump highly likely to abandon Trans-Pacific Partnership

Baku, Azerbaijan, Nov.24

By Leman Zeynalova – Trend:

The US president-elect Donald Trump is highly unlikely to support ratification of the Trans-Pacific Partnership (TPP) agreement, Russell A. Green, a Will Clayton Fellow in International Economics at Rice University's Baker Institute (Houston) told Trend Nov.24.

Given lack of enthusiasm in the US Congress, passing TPP would require a major use of political capital, according to the expert.

“It seems unlikely Trump would decide to use precious time and energy for a treaty he promised not to support. He campaigned strongly against it and similar trade liberalization efforts,” he added.

Green believes that there will be no major immediate change if the US withdraws from TPP, but in the medium-term, it will have consequences.

The US trading partners, not just in Asia, will see this as its withdrawal from supporting free trade in general, he said.

“In Asia, the TPP countries will seek alternative trade alliances, and the treaties they form are unlikely to uphold America's high standards on labor, environment, investor protection, internet freedom or intellectual property,” added Green.

The expert doubts collapse of the TPP will trigger protectionism, but it will discard the chance to halt the current worldwide accretion of small trade barriers.

“TPP has been a major rallying point, and it is not clear what would be the impact of removing it. Will anti-globalizers declare victory and go home or get motivated? Will pro-globalizers get motivated or discouraged? We will soon find out,” he said.

The Trans-Pacific Partnership is a proposed free trade agreement linking the United States and 11 other Pacific Rim economies. The agreement would lower tariffs and other trade barriers among Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the US and Vietnam.

The finalized proposal was signed on February 4, 2016 in Auckland, New Zealand, concluding seven years of negotiations. It is currently awaiting ratification to enter into force.

Footage from liberated from occupation Gubadli city (VIDEO)
Footage from liberated from occupation Gubadli city (VIDEO)
Footage from liberated from occupation Khanligr village of Gubadli region (VIDEO)
Footage from liberated from occupation Khanligr village of Gubadli region (VIDEO)
Armenia does not want to take bodies of its deceased soldiers as it fears anger of people - Assistant to the President of Azerbaijan
Armenia does not want to take bodies of its deceased soldiers as it fears anger of people - Assistant to the President of Azerbaijan
Loading Bars
Latest
Chinese mainland reports 16 new imported COVID-19 cases
Brazil's COVID-19 cases surpass 5.4 mln
U.S. Senate confirms Trump's Supreme Court pick Barrett in nearly party-line vote
5.2-magnitude earthquake hits central Iran, no casualties
Czech Republic to introduce night curfew from Wednesday
61 more coronavirus patients die in Moscow in past day
Germany reports 8,685 new COVID-19 cases
Footage from liberated from occupation Gubadli city (VIDEO)
Footage from liberated from occupation Khanligr village of Gubadli region (VIDEO)
Armenia does not want to take bodies of its deceased soldiers as it fears anger of people - Assistant to the President of Azerbaijan
Kazakh PM meets with Turkish Defense Minister
Footage from liberated from occupation Padar village of Gubadli region (VIDEO)
Azerbaijan neutralizes one of 3 missiles shot by Armenian troops at Azerbaijan's Tartar
Azerbaijan's Bank Association denies lies spread by Armenian side
Effective co-op in field of border security established between Azerbaijan, Iran
Armenian Armed Forces shell Azerbaijan’s Tartar by using 'Smerch' missiles
Armenia indiscriminately targets civilians - Assistant to Azerbaijani president
Azerbaijanis hold rally in California, condemning Armenian terror (PHOTO)
Azerbaijani compatriots living in Minnesota hold protest rally (PHOTO)
Armenian Armed Forces shelling Azerbaijan's Tartar city, villages
Armenian armed forces shelling Tartar city with artillery, missiles in gross breach of humanitarian ceasefire
Iran's powder detergent production grows
Azerbaijanis in Denmark hold protest rally against Armenian terror (PHOTO)
Turkish embassy in Georgia talks joint energy projects of Georgia, Azerbaijan, Turkey
Protest rally against Armenian attack on Ganja held in Bielefeld, Germany (PHOTO)
Iranian Energy Exchange announces products to be on sale October 27
Armenian Armed Forces’ quadrocopter destroyed by Azerbaijani troops
Al Jazeera posts article covering aftermath of Armenian missile attack on Ganja
Baku's secondary housing prices show monthly decline
Investments in Iran's capital market increase
Uzbek Reconstruction and Development Fund to support creation of Export Support Fund
Turkey's export of defense products to Morocco plunges
Nagorno-Karabakh region to be liberated sooner or later: press secretary of Turkish president
USD falls against Uzbek soum for the first time in three months
Work connected with laying of gas pipelines on freed Azerbaijani territories kicked off (PHOTO/VIDEO)
Volume of maritime cargo shipment via Turkey from Spain disclosed
Turkmenistan significantly increases import of wheat flour from EAEU countries
Azerbaijani railway operator admitted to consortium of Trans-Caspian Transport Route
Georgia reveals results of 18 foreign exchange auctions conducted by National Bank
Iran Khodro reveals amount of funds saved thanks to domestic manufacturing
Export of Turkish-made defense products to China slumps
Armenian Armed Forces fire at school in Aghdam (PHOTO)
Assistant to Azerbaijani president comments on photo of Armenia's defense minister together with Armenian soldiers
Macron's anti-Islamic statements point to extreme misunderstanding of religion - Arab analyst
Uzbekistan’s Kashkadarya tops list of regions implementing foreign investments
Heritage Foundation's Foreign Policy Studies Center Director comments on photo showing Russian field camp set up near Armenian Tegh
Georgia sees increase in hazelnuts export
Georgia reveals volume of exported apples
U.S. regrets EU move on tariffs, seeks deal on Boeing-Airbus row
Russia seeking to be stabilizer in South Caucasus, says Russian expert
Uzbekistan discusses strengthening multilateral co-op with China and S. Korea
President Aliyev congratulates commanders of joint military corps who distinguished themselves in liberation of Gubadli city, villages of Gubadli district from occupiers
Review of statistics of people registered within state program 'Remotely from Georgia'
Volume of trade turnover between Turkmenistan, Russia’s Perm Krai revealed
Azerbaijani army does not fire at civilians - Defense Ministry
President Ilham Aliyev interviewed by Italian Rai 1 TV channel (PHOTO)
Iran launches new water treatment facility in Tehran
Iran studies Famotidine as Coronavirus treatment
Industrial production in Karabakh to increase in post-conflict period - CAERC head
Turkish president urges to boycott French goods
Work on power supply to strategic facilities in freed Azerbaijani territories underway (PHOTO)
Bank of Georgia suffers loss
S&P Global Ratings expects Azerbaijan's export to grow in next years
Iran’s Bahar Azadi gold coin price falling
Wildfire breaks out in Azerbaijan's Dashkasan district from Armenian attacks (VIDEO)
SOCAR considering new investments in Turkey
Romania's import of Azerbaijani products for 9M2020 revealed
Armenian Armed Forces fire at Azerbaijan’s Tartar district
Price of most Georgian companies’ shares up on London Stock Exchange
UK armed forces take control of ship in English Channel, seven people detained
Mobile phones and smartphones import down in Georgia
Azerbaijan confirms 131 more COVID-19 recoveries
Iran enlarges petrochemicals production
Azerbaijan hikes export to Belarus in 9M2020
S&P says Azerbaijani manat to maintain position against USD
German government raises 2020 GDP forecast to -5.5%
Turkmenistan ready to support contracts with companies of Russia’s Perm Krai
Recruiting children by Armenia against Azerbaijan is war crime, says Lebanese lawyer
President Ilham Aliyev: Azerbaijan restoring historical justice on battlefield
Azerbaijan's Aghjabadi district again under fire of Armenian Armed Forces
It is not worth using peacekeeping efforts of third states in settlement of Karabakh conflict - Georgian expert
Weekly digest of Azerbaijan’s energy sector
Uzbekneftegaz accelerates commissioning of technological devices due to autumn-winter period
EU's Barnier heads for London for Brexit deal talks
Corn oil produced by Georgian Plant Oil Company Qarva to enter supermarkets
President Ilham Aliyev talks proving to world that Karabakh is Azerbaijan's historical land
Turkey discloses 9M2020 data on cargo movement via its ports from UK
Armenia's leadership, criminal junta regime have no moral, ethical framework - Azerbaijani top official
Iran ready to fire at Armenian Armed Forces if they approach its border with Azerbaijan
Iran`s Quchan grapes exports revealed
Turkmen private sector provides half of industrial production in Balkan region
Amount of industrial enterprises launched in Iran's Hamadan soars
Iran reveals its COVID-19 data for October 26
Uzbekneftegaz eyes to increase natural gas production
Armenia never supports peace – Azerbaijani MP in interview to TRT World TV channel (VIDEO)
Karabakh conflict's settlement process is at hot point - Kremlin spokesman
Over 230 tankers with ACG oil shipped from Ceyhan terminal
Azerbaijani Prosecutor General's Office gives updates on civil casualties, damages
Iran's Shazand Oil Refining Company opens tender to buy equipment
Secretary of Iran's Supreme National Security Council slams French president
All news