October 5, 2015
The Trans-Pacific Partnership, billed as the largest regional trade accord ever, has been agreed upon by world leaders. If finalized, the deal would bring together trade agreements between 40 percent of the world’s total economy, branching ties between Pacific Rim countries in North America, Asia, Australia and South America.
The Trans-Pacific Partnership would eliminate thousands of costly tariffs, protect companies’ intellectual property rights, open the Internet in some communist countries, and protect certain environment and wildlife concerns.
If approved by Congress, the new Trans-Pacific Partnership would reportedly be major competition to China’s influence over the region.