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TPP holds out some promise, but it's not over till it's over

US President Barack Obama meets with agriculture and business leaders on the benefits of the Trans-Pacific Partnership for American business and workers, at the Department of Agriculture in Washington, DC, USA, 06 October 2015.

TARIFFS, quotas and other trade barriers create winners and losers on both sides. Their removal can benefit producers in one country, to the detriment of more inefficient ones in others. Yet, as free trade proponents are fond of saying, countries get to specialise in producing what they are good