The Australian Council of Trade Unions (ACTU) has warned that the 11-nation Trans-Pacific Partnership (TPP) trade agreement will have “negligible” benefits for Australia, while it could result in significant job losses. ACTU secretary Sally McManus also says the trade deal will result in downward pressure on Australian wages and increase inequality. Meanwhile, Labor advocates subjecting the TPP to a cost-benefit analysis, although it has not yet indicated its stance on ratifying the deal. From The Australian:
“The TPP could risk thousands of Australian jobs, drive down wages and lead to higher levels of inequality,” ACTU secretary Sally McManus said in a statement.
