The United States and 11 other countries have officially reached an agreement in the Trans-Pacific Partnership or TPP. If you’re thinking there is going to be more transparency now that they’ve reached a deal, think again. Cenk Uygur and Ana Kasparian of The Young Turks break down this historic agreement.

Read more here: http://www.theguardian.com/business/2…

“Trade ministers from 12 countries announced the largest trade-liberalizing pact in a generation on Monday. In a press conference in Atlanta, trade ministers from the US, Australia and Japan called the the Trans-Pacific Partnership an “ambitious” and “challenging” negotiation that will cut red tape globally and “set the rules for the 21st century for trade”.

The deal – in the works since 2008 – is a major victory for the US president, Barack Obama. “This partnership levels the playing field for our farmers, ranchers and manufacturers by eliminating more than 18,000 taxes that various countries put on our products,” the president said in a statement. “It includes the strongest commitments on labor and the environment of any trade agreement in history, and those commitments are enforceable, unlike in past agreements.”

While it still faces major hurdles, not least in Congress, the deal could reshape industries and influence everything from the price of cheese to the cost of cancer treatments. It is expected to set common standards for 40% of the world’s economy, become a new flashpoint for the 2016 presidential campaign, and could become a legacy-defining agreement for the Obama administration.”*