Impact of TPP (Trans-Pacific Partnership) on auto industry
Impact of Trans-Pacific Partnership on auto industry detailed
Twelve nations, including automotive powerhouses like the United States, Japan, and Mexico have come to an agreement on the terms of the controversial Trans-Pacific Partnership. While the TPP stands to impact up to 40 percent of the world’s economy – including everything from cheese production to biotech – we’re going to focus on the auto industry. And not surprisingly for something this expansive, a number of parties aren’t too happy about the deal.
It’s extremely unlikely that this is the last we’ll hear of the TPP. According to The News, Congress’ fast-track rules dictate that the complete text of the deal needs to be public for 90 days before it’s voted on. That vote, which won’t be done until at least 2016, will be a simple matter of yay or nay. The TPP also needs to be approved by each country involved, so there’s still a lot that can go wrong here. Stay tuned.