An article published on January 19th, 2016 in The Australian Financial Review, http://www.afr.com/news/politics/malcolm-turnbull-backs-us-leadership-in-asia-as-essential-to-china-20160118-gm8nwu, discusses several economic issues between Australia and the United States. It states that Australian Prime Minister Malcolm Turnbull is urging the US Congress to pass the 12 country Trans Pacific Partnership deal. According to Mr. Turnbull, “Free trade is not just good for jobs. It is good for security. The more we trade, the more we rely on each other; the more our supply chains stretch across countries and borders the more there is to lose by a disturbance in the security and order on which our prosperity is founded.” Mr. Turnbull not only stressed the economic importance of signing the trade deal, but also how the international norms and institutions that the US has promoted over the last 75 years has helped provide stability and security in prior free trade deals. Turnbull states, “So central is the Asia-Pacific to the world economy, to global stability, that the preservation of the international order and the peace that it brings has been a consistent and absolutely central objective of both the United States and Australia.” It is very apparent that both the TPP and the Asia-Pacific economy are vital to the continued success of many nations, including both the US and Australia.
What could hold back Congress from approving the TPP? Will the presidential elections have any effect on the US ruling for the TPP?