Panning the Decision To Back Out of Key Trade Deal

Latest Polls (view all)

Where do you stand on the Transgender Issue now that the issue has gotten to the overt point of the open celebration of this lifestyle choice, dictated by certain direct and explicit actions.

91.07% I do not approve of behavior that has within its expressed tenants policies that harm children.

8.04% I do support the Trans Community in all its many facets because diversity is at a premium in today's society.

0.89% What is a "Children's Drag Queen Story Hour?"

Click Here to Vote
112 Vote(s)

View all Polls

Panning the Decision To Back Out of Key Trade Deal

Published: Thursday, November 26th, 2020 @ 8:05 am
By: John Locke Foundation ( More Entries )

Publisher's Note: This post appears here courtesy of the John Locke Foundation. The author of this post is Mitch Kokai.

Editors at National Review Online remind us about the costly decision to remove the United States from an important trade agreement.

Within weeks of his 2016 election victory, President Trump announced plans to withdraw the U.S. from the Trans-Pacific Partnership (TPP), a multilateral trade deal intended to build an economic bulwark against China. That decision paved the way for this weekend's signing of the Regional Comprehensive Economic Partnership (RCEP), a free-trade agreement between China and 14 Asian neighbors.

The RCEP — signed by the ten members of the Association of Southeast Asian Nations as well as Australia, China, Japan, New Zealand, and South Korea — covers 2.3 billion people, making it the largest-ever trade agreement, even after India's withdrawal scaled it back. Though of marginal material consequence to the global economy, its signing represents another step in China's march to regional dominance.

The RCEP will phase out most tariffs between member countries over a 20-year period, a provision that essentially replicates existing trade arrangements. Indeed, previous deals with much more comprehensive and stringent rules have already achieved most of the trade liberalization included in the RCEP, muting its effect. ...

... It does, though, contain one significant provision instituting a common rule of origin. Whereas previously businesses had to attain various certifications to ship products between member countries, they now need just one so-called certificate of origin. That makes supply-chain management easier and could incentivize companies to locate more of their production in the region. ...

... Still, the sheer extent of the trade zone should worry Washington, which has missed opportunity after opportunity to convert the grievances of China's neighbors into meaningful policy victories. If previous ASEAN agreements are any indication, the scope of the RCEP is likely to expand over time. And those nations most willing to partner with the U.S. against China — Japan and South Korea — rank among the largest beneficiaries of the agreement.

Go Back

Login to Leave a Comment

Biden To Fill White House With Corporate Lobbyists

John Locke Foundation Guest Editorial, Editorials, Op-Ed & Politics

Beasley’s Protests Land With a Thud at Democrat Controlled Boards

Our Members

ENCN Sign Up

BCN Home

Beaufort Observer

Portfolios

Current Events: A Historical Perspective

Current Weather

Latest Comments

Latest Polls

Featured Entries

Latest Entries

Panning the Decision To Back Out of Key Trade Deal | Eastern NC Now

Panning the Decision To Back Out of Key Trade Deal

Leave a Guest Comment

Latest Op-Ed & Politics

In Trump witch hunt, Jack Smith illegally spied on 44 members of Congress, then lied about it

General Assembly, Cream churn, Families behind calling, the real Jesus

Democrat strategist says Democrat Socialists of America is essentially a communist org,

Sen. Jim Banks introduces bill to end birthright citizenship of chldren of illegal aliens

"Green energy" obsession drives Democrat states to higher electric prices than GOP states

Queen Garris Doubles Down on Finance

FBI joins investigation of sudden and mysterious death of US Sen. Lindsay Graham (R-SC)

Trump USDA finds over $10 Billion in Food Stamp (SNAP) fraud; California is worst

NY Post editorial: soaring housing costs another "benefit" from Democrat open borders

Democrat state elections body says they have no duty to keep foreigners off voter rolls

kangaroo federal court: crooked Biden judge orders DHS not to obey an honest federal judge

War on History: Smithsonian's "woke" propaganda machine insults American history

Pastor Loran Livingston Is wrong: America’s sins don’t prove she was never a Christian Nation

federal appeals court upholds ban on in-state tuition for illegal alien college students

Illegal alien migrants behaving badly - migrants and crime NEWLY UPDATED

new poll: 73% of Italians support the mass deportation of illegal alien migrants

Former top Bill Clinton advisor warns socialist takeover of Democrat Party threat is real

Florida federal judge overrules crooked Biden judge's order on illegal alien voter database

Iranian Regime Whips Female Singer For YouTube Concert As Mullahs Execute Protesters

America's surveillance state arrives - and it is state and local governments responsible

Tests again show that majority of "unaccompanied minor" illegal aliens are actually adults

Newsome tries to cover up corruption in crooked California elections

Will Democrats force Graham Platner out of Maine Senate race?

Beaufort County Republicans Try to Un-Ring the Finance Bell

American Upset Caps Off Wild UFC Night

Our Founding Principles: The Beginning of the American "Experiment"

Is this why chief Justice John Roberts has long been sandbagging conservatives?