Home / Manage finances / Consumers will be winners in Trans-Pacific Partnership, full text reveals

Consumers will be winners in Trans-Pacific Partnership, full text reveals

Consumers are expected to benefit from the TPP. For example, autos imported from Japan will be cheaper by about $1,500 per a $25,000 vehicle — roughly the average price of a Honda Civic. Other examples — milk protein products will cost less, as will some furnishing items.

OTTAWA — At long last, Canadians are getting a look — well, more like a peek — at the impact on consumers and companies of the Trans-Pacific Partnership agreement.

So far, it looks like it could be more positive than negative. The text of the 12-nation trade deal, signed by Canada and the others over a month ago, was released Thursday, and “the gains for consumers are there, for sure,” according to one trade expert.

Others believe the TPP will also level much of the playing field for industries around the region.

“Most of the visible gains are in trade liberalization in goods,” said Trevor Tombe, assistant professor of economics at the University of Calgary, specializing in international agreements.

“A lot of things that people had been fearing — changes in prescription drug prices — they’re just not there. Canada’s rules in that regard were already stricter than what is coming in with TPP,” Tombe said.

“Gains for consumers are there, for sure.”


Check Also


Marriott International scoops up rival Starwood in US$12.2B deal, boosting hotel room count by 50%

The biggest hotel chain in Canada just got bigger with the announcement that Marriott International …

Leave a Reply

Your email address will not be published. Required fields are marked *