TPP Membership Would Give Canadian Economy Big Boost, Study Says
(Andy Hoffman – Globe & Mail)
Membership in the Trans-Pacific Partnership could increase the size of Canada’s economy by as much as $9.9-billion (U.S.) or 0.5 per cent of annual gross domestic product by 2025, according to research on the fledgling Asian trade pact
Canada’s economic gains, however, would be much smaller than those derived by many of the other member countries in the proposed agreement, according to a research paper co-authored by Peter Petri, a professor at the Brandeis International Business School and Michael Plummer, a professor of international economics at the Johns Hopkins University. [...]
If successful, trade liberalization and tariff reductions achieved by the TPP could yield global income gains of $295-billion by 2025, including $78-billion for the United States, according to the paper. The paper suggests the TPP could boost Canadian exports by $15.7-billion or 2.6 per cent by 2025. U.S. exports would rise by 4.4 per cent under the same scenario. Read more here.
Date: June 25, 2012