Trans-Pacific Partnership (TPP) is a trade agreement involving twelve countries across the pacific and backed with the United States. These 12 member states that join this trade deal are Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, Vietnam, and United States. This deal is about setting rules on labors, the environment, and economics. This trade agreement collected about 40% of GDP from around the world and 20% of global trade. TPP is an agreement that is proposed by the United States in order to prevent China’s economic raising.
Pacific Alliance and Mercosur are the two main trade blocs that are involved. The first includes Mexico, Chile, Colombia and Peru as its members. The latter, Mercosur, consists of Argentina, Brazil, Uruguay, Paraguay and Venezuela. This dichotomy has led to two opposing frameworks of economical
Large U.S. corporations also play a major role on the global stage, with more than a fifth of companies on the Fortune Global 500 coming from the United States. Its seven largest trading partners are Canada, China, Mexico, Japan, Germany, South Korea, and the United
From NAFTA to TPP, Could advantages of multilateral trade blocs outweigh their disadvantages on the US economy? Introduction North American Free Trade Agreement, also well known as NAFTA, is a trilateral agreement signed by Canada, the United States and Mexico aiming at establishing a trade bloc in North America. Unlike the European Union, the main target of NAFTA is to accentuate cooperation on the level of economic development. Now after nearly 20 years of development, possessing a GDP of 19.886 trillion US dollars by the year 2013, NAFTA surpassed the EU and became the world’s largest trading bloc at the moment. Since the integration of European single market accelerated in the beginning of the 1980s, the competitive advantages of the United
World Trade Organization would be the most famous world trade organization and has a certain influence in their member countries. The World Trade Organization has a legal person status and is more authoritative and effective in mediation disputes among its members. When countries have argument of multilateral trade, the World Trade Organization also can deal with this problem. According to a news on February 20th, South Korea wants the World Trade Organization deal with the problem of the U.S. “unfair” trading. As Donald Trump administration wanted to impose antidumping tariffs up to 50 percent of goods for washing machines and solar cells.
In 2012 the Member States and the European Parliament reached an agreement on a “patent package”, consisting of two Regulations and an international Agreement. The implementation of the patent package made more effective the cooperation between 25 Member States (except from Italy and Spain). In December 2012, the contracting Member States adopted the two Regulations, and signed the international Agreement. Both the Agreement and the Regulations, established the opportunity to obtain a European patent with unitary effect, in all 25 Member States with great cost advantages and less administrative burdens. 2) The advantages of the unitary patent package for the users of the patent system in Europe While, both the European Union Council
The rapid pace of innovation in both technology and business practices, led to an explosion of claims on IPR. Yet patent systems governing the granting of intellectual property rights to companies are out-of-date and incomplete in some respects, critical and are far from being harmonized among developed economies. In addition, although the number of patent applications has increased dramatically, government resources devoted to consideration of these requests have not caught up. For example, the US Patent and Trademark Office issues approximately 1,000 patents every working hour, nearly 160,000 in 2003. On average, the US Patent and Trademark Office (PTO) received 355,000 applications a year and approves 160 000 (a rate of 45 percent approval).
Large U.S. corporations also play a major role on the global stage, with more than a fifth of companies on the Fortune Global 500 coming from the United States.” (Anon., 2015). U.S seven largest trading partners are Canada, China, Mexico, Japan, Germany, South Korea, and the United
What is free trade and fair trade? Free trade has no specific definition, but as sales of goods and services are being purchase and sold unrestrictedly between nations without forcing any limits such as tariffs, duties and quotas. Besides, this trade is a win-win proposition because it allows the countries to focus on their main competitive advantages which is maximizing economic output and fostering income growth for their citizens (Investopedia 2012). Moreover, the key advocate of free trade include organisations such as the WTO ‘World Trade Organization’, IMF ‘The International Monetary Fund’ and the World Bank. Whereas, fair trade is defined as even-handed partnership between marketers of all parts of the world.