Great news – the United States is going to join New Zealand, Singapore, China and Brunei in multi lateral free trade negotiations as part of the Comprehensive Trans-Pacific Strategic Economic Partnership Agreement.
The agreement, commonly known as the “P4”, was signed between Singapore, Chile and New Zealand in 2005. Brunei joined it a year later.
It aims to tear down trade barriers among participants within a decade.
World wide free trade is best, but until we get there, free trade deals with inidividual countries or groups is a lot better than trade restrictions and Phil Goff deserves our gratitude for achieving this progress with the USA.
If this free trade deal goes ahead it will be especially good news for sheep and beef exporters who currently disadvantaged by taxes put in place to protect U.S. meat producers in their local markets.