What do you think of the following?

What are the benefits and potential drawbacks of the TPP?

The Trans Pacific Partnership (TTP) was a free trade deal that involved free trade among 12 countries. It was developed to reduce trade barriers, tariffs, and taxes. The deal was controversial as some opposed and some were in favor. Three big benefits from the deal would be, more expending power and access, regulated tariffs, and fewer issues with turnover. On the other hand some of the drawbacks would be, the rich could potentially get richer, and mostly influenced by the United States of America.

Some of the benefits the partnership would have created are more expending power and it would have encouraged more participation from other nations. Experts say it would have provided over $200 billion per year in wages, as well as influence more business to export. Secondly, it intended to reduce tariffs which would have created opportunities for more business to get involved. Lastly, there would be fewer issues with turnover. The consistence of lower tariffs and taxes would have encouraged business to maintain a constant flow of Goods and Services moving, a regulated and balanced supply chain.

One of the drawbacks of the deal is that the rich get richer. The 12 countries differ in economy power. Countries with economy sectors below medium would not have access to trade or even enter in the export business. Therefore, those with the mean would manipulate and control all trades. Another drawback would be that the U.S.A would be the biggest stakeholder. The deal was created based on the participation of the U.S. which would provide 40% of the contributions, this made the deal unbalanced to begin with.

Why do you think that Donald Trump is opposed to the TPP?

In my opinion Donald Trump utilized this as a political strategy to gain the trust of the American people. He was able to tap in to our believe system, ensuring that our jobs would stay local and more employment opportunities. American dollars stay in America.

With this case in mind, what are the benefits and disadvantages of free international trade for the United States?

Some of the benefits of free international trade for the United States are maintaining presence in the global market, and economic growth. In my opinion the exports from the United States are not especial. The Goods sold to other countries from the U.S. could easily be sourced from someone else. Raising tariffs and taxes could potentially encourage other countries to go somewhere else. The disadvantage is that the U.S. would lose power. In my opinion the U.S. is mostly a buyer and has the ability to negotiate and generate revenue from this tariffs and taxes.