Southeast Asia Week Lecture: What Now? The Effects of U.S. Withdrawal from the Trans-Pacific Partnership Trade Agreement on ASEAN
What Now? The Effects of U.S. Withdrawal from the Trans-Pacific Partnership Trade Agreement on ASEAN, presented by Jeffrey Chow, assistant professor, Business Department. This event is part of the seventh annual Southeast Asia Week March 12–16.
This talk examines the effects of the U.S. withdrawal from the Trans-Pacific Partnership Trade Agreement (TPPA) on Association of Southeast Asian Nations (ASEAN). The TPPA was abandoned by President Donald Trump after years of contentious negotiations between President Obama’s administration, Congress, and 11 Pacific Rim trading nations.
According to the agreement, the overarching goals of this trade pact is to facilitate economic growth through reduction of trade barriers, enhance productivity, promote good governance, and improve the standards of living. The new rules and changes were to be implemented in the automobile industry, pharmaceuticals, dairy, tobacco, and intellectual property rights to achieve mutually beneficial goals. Nations committed to this trade agreement were expected to gain in Gross Domestic Product (GDP) through lower tariff and non-tariff barriers in large export markets such as the United States. These policies include the elimination of trade policies that protect domestic industries, banning the use of government procurement policies that assist domestic firms, and allowing multinationals to sue the government for new policies detrimental to their profits. The U.S decision to abandon this agreement will have a significant impact on ASEAN’s social and economic developments.
Refreshments will be served. Southeast Asia Week is sponsored by the Equity and Campus Diversity Office, the Geography and Planning Department, and the Community Academic Center.