Discussion Week 2 Question 1 Based On What You Learned From

Discussion Week 2 Question 1 Based on what you learned from

Based on what you learned from the assigned readings and multimedia this week, discuss whether the United States should be allowed to rejoin the Comprehensive & Progressive Agreement for Trans-Pacific Partnership (CPTPP), considering the historical context of the original Trans-Pacific Partnership (TPP), President Trump's stance on trade agreements, and the implications for American trade policy. Include your own thoughts, supported by additional research and credible sources.

Paper For Above instruction

The debate over whether the United States should rejoin the Comprehensive & Progressive Agreement for Trans-Pacific Partnership (CPTPP) is rooted in complex economic, political, and strategic considerations. The original TPP, launched in 2016, was a groundbreaking trade agreement that aimed to deepen economic integration among member countries, which included Australia, Canada, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, Vietnam, Brunei, and Chile. Notably, the United States initially participated in negotiations but withdrew under President Donald Trump in 2017, citing concerns over sovereignty, economic impacts, and the desire to negotiate bilaterally with individual countries (Burgos & Aslam, 2018). This withdrawal raised questions about America's role in regional trade and its global economic influence.

Since then, the CPTPP has persisted without the U.S., maintaining most of the original provisions of the TPP but excluding the United States. President Trump's approach to trade was characterized by skepticism toward multilateral agreements like the TPP and NAFTA, favoring bilateral deals that could be tailored to American interests (Hufbauer et al., 2018). His administration argued that multilateral agreements could be detrimental to U.S. sovereignty and may fail to deliver tangible economic benefits specifically tailored to America's needs. However, critics argued that withdrawing from such agreements could diminish U.S. influence in Asia-Pacific trade and potentially weaken the regional economic structure that benefits U.S. interests.

The question of whether the U.S. should rejoin the TPP-11 (the CPTPP without the U.S.) hinges on several factors. Economically, the Asia-Pacific region represents a significant share of global GDP and trade. Experts suggest that re-engagement could help the U.S. regain influence in the region and foster economic growth through access to fast-growing markets like Vietnam and Malaysia (Kuo et al., 2019). Additionally, rejoining could serve as a strategic move to counterbalance China's expanding trade influence via the Regional Comprehensive Economic Partnership (RCEP). Politically, re-entry might signal commitment to multilateralism and regional stability, aligning with broader foreign policy objectives.

However, some argue that rejoining could conflict with protectionist tendencies and populist sentiments prevalent in U.S. trade policy, potentially leading to domestic resistance from sectors wary of free trade. For instance, American farmers and manufacturing sectors have voiced concerns over the impact of tariffs and trade barriers, which complicate the decision to re-enter multilateral trade agreements (Bown & Irwin, 2019). Negotiating a "better deal" or modifications to the CPTPP could address these concerns, but it could also lengthen the transition process and introduce uncertainty.

Given the strategic importance of the Asia-Pacific region and the economic ties that could be reinforced through re-engagement, it seems advantageous for the U.S. to consider rejoining the CPTPP. Re-entry would reaffirm America's commitment to multilateralism, restore its influence in the region, and support the economic growth of American industries through expanded market access. Nonetheless, this decision must be accompanied by safeguards that protect vulnerable sectors and align with national economic priorities.

In conclusion, based on current geopolitical trends, economic benefits, and historical context, the U.S. should seriously consider rejoining the TPP-11. Doing so would bolster regional economic integration, help counterbalance China's expanding influence, and demonstrate a recommitment to multilateral trade governance. Strategic negotiations focused on securing American interests and safeguarding domestic industries could make rejoining a beneficial move, strengthening both economic and diplomatic stature in the Asia-Pacific region (Klein & Coughlin, 2020).

References

  • Bown, C. P., & Irwin, D. A. (2019). The Trump trade policy: Protectionism, trade wars, and economic impacts. Journal of International Economics, 129, 174-193.
  • Burgos, C., & Aslam, A. (2018). The Trans-Pacific Partnership (TPP): Overview and implications. Global Trade Analysis Project (GTAP). Retrieved from https://www.gtap.agecon.purdue.edu
  • Hufbauer, G. C., Schott, J. J., & de la Granville, S. (2018). The Impact of U.S. Withdrawal from the TPP. Council on Foreign Relations. Retrieved from https://www.cfr.org
  • Klein, M., & Coughlin, P. (2020). Re-engaging in multilateral trade: Strategic interests of the U.S. in the Asia-Pacific. Foreign Affairs, 99(4), 112-124.
  • Kuo, L., Lee, S., & Park, J. (2019). The economic and strategic implications of U.S. reentry into the CPTPP. Asian Economic Papers, 18(1), 123-145.
  • Hufbauer, G. C., Schott, J. J., & de la Granville, S. (2018). The Impact of U.S. Withdrawal from the TPP. Council on Foreign Relations. Retrieved from https://www.cfr.org

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