The benefits of signing up for the biggest trade deal in history may take a while to materialize in the three Latin American countries that agreed Monday to the 12-nation Trans-Pacific Partnership (TPP).
Chile, Peru and Mexico already have free-trade deals in place with the United States. And their leaders are among Latin America’s weakest and least popular, which does not bode well for TPP’s swift and easy approval in their respective legislatures.
“These countries had a tough time getting their respective trade deals passed at home, and will face stiff difficulties again as they have had to sign on to deeper rules for intellectual property, pharmaceuticals and finance,” said Kevin Gallagher, a Latin America trade expert at Boston University’s Frederick S. Pardee School of Global Studies.
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