It’s what we feared…
The world’s biggest ever trade deal, TTP, was signed into existence today. The Trans-Pacific Partnership (TPP) cuts trade tariffs and sets common standards in trade for 12 Pacific rim countries, including the US and Japan. It marks the end of five years of often bitter and tense negotiations.
Supporters say it could be worth billions of dollars to the countries involved but critics say it was negotiated in secret and is biased towards corporations. The deal covers about 40% of the world economy and was signed after five days of talks in Atlanta in the US.
Despite the success of the negotiations, the deal still has to be ratified by lawmakers in each country.
Cross-post from BBC News.
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