The Trans Pacific Partnership is a trade agreement between Canada, the United States, and several countries in the Pacific, such as Japan and Malaysia. The trade deal was made to open up free trade and to increase trade between the countries. Strategically, the deal was made to isolate China economically (China is not party to the deal) and to get the smaller Pacific nations to do more business with the United States instead. While the deal’s strategic value has been minimized in the public eye, its economic value has not. The United States and Canadian governments both have citizens who are wary of trade deals and skeptical of the results. Most citizens believe that trade deals simply mean big corporations and factories will send jobs overseas to cheaper labor forces, hurting people domestically. Although there is some truth to that argument, there is also the fact that companies benefit from free trade, and more money flowing into the system ultimately grows the economy. Canada’s stocks have been increasing in value since the TPP has been completed, and many Canadian companies stand to benefit from greater access to markets in the Pacific that were previously difficult to reach.
Many of these Canadian companies have canadian merchant accounts from credit card processors such as eMerchantBroker.com. These Canadian companies will now be able to hire labor in new markets and reach new customers. The growth can be reinvested into their own companies, potentially allowing them to hire more people back home. Although some companies don’t reinvest the money back in Canada, ultimately the increase in economic activity benefits everyone. More economic activity means that there is more money changing hands and more credit available. More credit available means that new businesses that are based in Canada can start up and get the support they need to grow and hire locals. The TPP might sound like another free trade deal that is unwanted by the public, but ultimately it can turn out to be a good deal for the Canadian people.