TPPA stands for Trans-Pacific Partnership agreement. It will be signed in Auckland on the 4 Feb – next Thursday.
So what exactly is the TPPA?
The TPPA is a trade deal that involves us and 11 other countries. The 12 countries are New Zealand, the United States, Australia, Canada, Japan, Chile, Singapore, Malaysia, Vietnam, Brunei, Peru and Mexico
As a result of the deal, the taxes paid on imports from member nations will be lowered or eliminated. Similarly, exports from New Zealand to member nations will have taxes lowered or eliminated.
Our Government says the deal will add $2.7 billion a year to our economic output by 2030.
But critics reckon it will give other countries and corporations undue influence over our laws.
Although the deal will be signed in Auckland on February 4, it won’t come into effect until all countries ratify it. It could take years to pass in the US.