TPP (trade relationships) Flashcards Preview

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Flashcards in TPP (trade relationships) Deck (10)
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1
Q

has the TPP come into action yet?

A

no

2
Q

how many countries are in the TPP and when was it signed?

A

12

2016

3
Q

what % of world trade do the countries involved make up?

A

40%

4
Q

why was the agreement created?

A

to attempt to create a new single market

something like the EU

5
Q

when did the US pull out of the TPP?

A

in 2017 by order of Donald Trump

6
Q

can the agreement work without the US?

A

by january 2018 at least six countries need to sign that make up 85% of the groups economic output
without the us this is not possible
japans prime minister said it would be meaningless

7
Q

what collective population do the countries have?

A

800 million

8
Q

what did tariff aim to do?

A

get rid of or lower tariffs on trade especially on agricultural and industrial products

9
Q

what would be the significance of the trade deal?

A

it would be the largest free trade area in the world

10
Q

what has changed with the US in terms of the TPP?

A

they now want to be apart of the bloc

if they sign now still have to wait a year and still need votes form every country