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Vietnam Canada Trade Agreement

According to the Office of the United States Trade Representative, the TPP imposes “binding and fully enforceable obligations” on signatories to “protect the freedom to form and bargain collectively” and to “protect child labour and forced labour from exploitation from discrimination in the workplace.” [145] The obligations include “acceptable working conditions laws for minimum wage, hours of work and safety and health in the workplace.” [145] The USTR insists that countries such as Malaysia and Vietnam, if they do not impose provisions on forced labour, human trafficking and collective bargaining, will no longer enjoy the economic benefits of the TPP agreement. [146] For more information, see trade and investment agreements. According to analyst and economist B.R. Williams, the United States plays an important role in removing trade barriers and increasing U.S. investment. Williams says the U.S. wants to create a “broader platform for trade liberalization, particularly across the Asia-Pacific region.” [175] Scholars C. Li and J. Whalley explore a numerical approach to explaining the liberal effects of the TPP. Li and Whalley use a quantitative balance simulation to study the impact of the TPP on trade liberalization and new markets. [176] A version of the treaty text “subject to legal review” was published by potential contracting parties on 5 November 2015. [82] Parts of the draft comprehensive agreements have been disclosed to the public in advance.

[83] Many of the provisions contained in the leaked documents are imbued with previous trade agreements. [Citation required] The agreement between Australia, Canada, Japan, Mexico, New Zealand and Singapore came into force on December 30, 2018. The World Bank has found that the TPP agreement, if ratified by the signatories, could increase the average GDP of Member States by 1.1% by 2030. It could also increase member states` trade by 11% by 2030 and stimulate regional trade growth, which had slowed from about 10% in 1990 to about 5% on average in 1990. [153] The World Bank notes that the agreement will increase real wages in all signatory countries: “In the United States, for example, changes in real wages are expected to be low, with wages rising by 0.4 and 0.6% respectively by 2030. In contrast, in Vietnam, the TPP could increase the real wages of unskilled workers by more than 14% by 2030, as production-intensive production of unskilled labour (e.g. B textiles) relocates to Vietnam. [153] Canada`s most recent trade with Vietnam is significantly lower than that of Vietnam`s major trading partners, China and South Korea. Canada accounts for only 0.2 per cent, or $395 million of Vietnamese imports, while China accounts for 31 per cent or $60 billion of Vietnamese imports and South Korea 17 per cent, or $32.6 billion in Vietnamese imports. In a 2018 study on general foreign trade, researchers found that a large majority of U.S. adults view foreign trade as beneficial to U.S. growth and not a foreign threat. [74] In the international context, Americans are generally among the least likely supporters of the Trans-Pacific Partnership and there is a clear partisan divide between American public opinion to support the trade agreement. [75] In February 2016, UN human rights expert Alfred de Zayas argued that the TPP was fundamentally flawed and based on an outdated model of trade pacts and that governments should not sign or ratify the TPP.

[193] According to Mr. de Zayas, the international human rights regime imposes binding legal obligations on countries, including the International Covenant on Civil and Political Rights and the International Covenant on Economic, Social and Cultural Rights, and trade must be governed by the human rights regime.

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