Professor Bacchus Says TPP-11 Will Go Forward

The video discusses the US's relationship with the WTO, highlighting that the US has won most cases it brought to the WTO but lost many brought against it due to non-compliance with trade rules. The US's withdrawal from the TPP is seen as detrimental to its economic and geopolitical interests, as it halts important provisions on intellectual property and labor protection. The video also covers the RCEP, led by China and India, which lacks the additional protections the US sought. The importance of lowering tariffs for economic integration and globalization is emphasized.

What percentage of cases has the United States won at the WTO?

• 50%

• 70%

• 90%

• 100%

What is a significant consequence of the US pulling out of the TPP?

• Increased tariffs on US goods

• WTO plus provisions on hold

• More trade agreements with Europe

• Higher taxes on imports

Which countries are leading the RCEP initiative?

• United States and Canada

• Australia and New Zealand

• China and India

• Japan and South Korea

What is the main challenge mentioned in the RCEP section?

• Increasing tariffs

• Lowering tariffs

• Expanding membership

• Improving technology

What is the benefit of lowering tariffs according to the transcript?

• It increases government revenue

• It acts as a tax cut for participants

• It reduces trade deficits

• It strengthens local industries