answer these questions about the trans pacific partenership please

1 of 3 Next CLOSING CASE The Trans Pacific Partnership (TPP) On February 4, 2016, ministers from 12 governments signed off on the Trans Pacific Partnership (TPP), a free trade deal among 12 countries, including the United States, Japan, Australia, South Korea, Chile, Canada, Mexico, and Vietnam, China was not part of the deal. Together, these countries account for 36 percent of the world's GDP and 26 percent of world trade. In the United States, crities of the deal were quick to register their op position. Donald Trump, now president of the United States, said that the "TPP is a terrible deal." Bernie Sanders, International Trade Theory Chapter 6 187 one of the leading Democratic contenders, called it TPP would raise U.S. wages slightly above what they would "disastrous" and "a victory for Wall Street and other big have been without the deal. The IIE study estimated that corporations. Many other politicians, wary of the fact the TPP would increase annual U.S. exports by $357 bil- that 2016 was a general election year in the United States, lion, or 9 percent, by 2030. The IIE study also calculated were also quick to criticize the deal. On the other hand, that overall, there would be no job fosses in the United the administration of Barack Obama heralded the TPP as States. Although some sectors would see job losses, the IIE a historic deal of major importance Editorials in influen suggested that these would be offset by job gains elsewhere. tial publications such as The Wall Street Journal and The The study from Tufts University was the most pessimistic. Economist urged the U.S. Congress to ratify the deal estimating that the deal would result in the loss of 450,000 So what does the deal try to do? If enacted, the TPP will jobs in the United States over 10 years. To put this in climinate or reduce about 18,000 tariffs, taxes, and montar context, between 2010 and 2015. the U.S. economy created ifr barriers such as quotas on trade between and among the 13 million new jobs, so the worst-case estimate of losses for International Economics, working paper 16-2, January 1, 2016; "China Picks Up the U.S. Trade Fumble," The Wall Street Journal, November 17, 2016. that it jobs Morris com- toking g their ral big ly pro- ompeti- fore. claims cluding lational World verseas 030 the Case Discussion Questions 1. What are the benefits of the TPP? 2. Can you think of any drawbacks associated with the TPP? 3. Why do you think that Donald Trump is so ada- mantly opposed to the TPP? 4. Is the RCEP a threat to American economic interests? 5. What is the opportunity cost to the United States of withdrawing from the TPP? Design Elements: Implications (idea): CARTQU/Getty Images: Problem (jigsaw): @ALMAGAMI/Shutterstock: All Others: PU: DA