New Zealand and the TPP

In the article “TPP – What You Need To Know” (http://www.radionz.co.nz/news/top/295574/tpp-what-you-need-to-know) , a brief overview of the TPP and its potential benefits to New Zealand are given. What is the TPP agreement again? Per the article it is set as a “set of trade and investment negotiations among 12 Asia-Pacific countries to cut tariffs, improve access to markets, and set common ground on labor and environmental standards and intellectual property protections. Specific to New Zealand, what are the biggest benefits? Citing the article, “agricultural tariffs either disappear of fall sharply, particularly in the heavily protected but lucrative US and Japanese markets”. It is estimated that the elimination of tariffs will save exporters $274 million a year once TPP has been adopted and implemented. With such great financial benefits, what are the possible downsides of the agreement? Some people theorize that the TPP will result in higher prices for medicine, recordings, books, and “other products affected by longer copyright periods”. Likewise, critics say that the TPP will benefit the large corporation, not the consumer. Which is correct? Which will benefit New Zealand more as a whole?

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