Trans-Pacific Partnership Breakdown – What it means for Australian Trade

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Trans-Pacific Partnership Breakdown – What it means for Australian Trade

The hope for the Trans-Pacific Partnership is that it will be the world’s largest free trade agreement, covering 40% of global GDP. The agreement would cover goods, services and non-tariff barriers to trade. Negotiations in Hawaii which were expected to finalise the deal broke down over the weekend. However, there are both advantages and disadvantages for Australian traders if the deal does not go ahead. Hunt & Hunt has prepared the an infographic explaining the TPP, its importance to Australian trade and the implications of the recent failure to conclude the deal.