TPP Poll: Most Businesses and Consumers See Benefits in Trade Pact

Despite some political misgivings and warnings from critics about the impact of the Trans-Pacific Partnership (TPP), a recent poll by Edelman shows 69% of businesses and 67% of consumers in the member countries believe the trade pact will benefit their economies.

 

Companies in Vietnam, Singapore, Chile, and the United States are the most optimistic about a boost to their business from the TPP, which still must be ratified by lawmakers in all 12 countries. At just 17%, businesses in Japan and New Zealand have the weakest confidence about the benefits.

 

U.S. businesses are slightly less aware of the TPP than the country average but U.S. consumers have the lowest overall awareness at 44% percent, compared with the average of 66% and the high of 95% in Japan, according to the online survey by Edelman, a global communications marketing firm. (Please see the detailed U.S. data below.)

 

U.S. companies say they are prepared for the TPP (68% versus the average of 52%) and tend to see benefits for their business (53% versus 47%) but U.S. consumers are less upbeat or simply do not know.

 

Businesses across the TPP nations feel “cross-border relationships” and “access to products and services” are the most positive aspects, with “rules and regulations” as the most negative.

 

While two-thirds of consumers see the TPP as beneficial to their economy, only 47% feel it will benefit them and their families. The impact on jobs and employment worries 40% of consumers, with Canadians the most concerned at 51%.

 

Malaysian consumers are the most skeptical of the TPP, with only 49% believing it will be beneficial for their economy. Vietnamese consumers are the most hopeful about the benefits to their economy (96%) and to themselves and their families (80%).

 

The poll of 1,000 consumers and 1,000 businesses across the signatory countries – excluding Brunei and Peru – was done on October 7-9 by Edelman Berland, the company’s research arm.

 

The following are key data points for the U.S. segment of the poll. The average of the countries surveyed is included (in brackets) for reference.

 

Business

 

Heard of TPP?

Yes:                                      70%        (76%)

No:                                       30%        (24%)

 

How beneficial for your economy?

Very beneficial:                33%        (22%)

Quite beneficial:              39%        (47%)

Quite unbeneficial:         10%        (13%)

Very unbeneficial:           8%          (9%)

Don’t know:                      11%        (9%)

 

How beneficial for your business?

Very beneficial:                24%        (13%)

Quite beneficial:              29%        (34%)

Quite unbeneficial:         12%        (18%)

Very unbeneficial:           9%          (10%)

Don’t know:                      26%        (24%)

 

How prepared is your business for TPP?

Very prepared:                 36%        (17%)

Quite prepared:               32%        (35%)

Quite unprepared:          12%        (24%)

Very unprepared:            20%        (23%)

 

Consumer

 

Heard of TPP?

Yes:                                   44%        (66%)

No:                                    56%        (34%)

 

How beneficial for your economy?

Very beneficial:               18%       (22%)

Quite beneficial:             38%       (45%)

Quite unbeneficial:        11%       (9%)

Very unbeneficial:          12%       (8%)

Don’t know:                     21%       (16%)

 

How beneficial for you and your family?

Very beneficial:              14%        (11%)

Quite beneficial:            26%        (36%)

Quite unbeneficial:       10%        (15%)

Very unbeneficial:         12%        (11%)

Don’t know:                    37%        (28%)

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