Michael Geist thinks it might be. He writes:
First, the TPP may not have sufficient support to take effect, since under the terms of agreement both Japan and the United States must be among the ratifying countries. Implementation has been delayed in Japan where politicians fear a political backlash and seems increasingly unlikely in the U.S., where the remaining presidential candidates have tried to outdo one another in their opposition to the deal.Both Donald Trump and Bernie Sanders have been outspoken critics of the TPP from start of their campaigns. Meanwhile, Hillary Clinton has shifted her position from supporter to critic, recently unequivocally stating that “I oppose the TPP agreement and that means before and after the election.”
If the deal goes down, that's good news -- because new models are emerging for international trade agreements:
Canada already has an alternate blueprint for a trade strategy to open up key markets throughout Asia. By the government’s own admission, the Canada-EU Trade Agreement offers a better investor-state dispute settlement system than the TPP, while the Canada-South Korea free trade agreement, which was concluded in 2014, eliminates tariffs without requiring an overhaul of Canadian or South Korean laws.There are criticisms of both of those deals, but they offer better models than the TPP.
And a recent analysis by the C.D. Howe Institute claims that the proposed agreement offers Canada few incentives:
For example, a recent C.D. Howe study found that the Canadian gains may be very modest, with some gains offset by losses on issues such as copyright and an outflow of royalties. Given the limited effect of staying out (the study describes the initial impact as “negligible”), some have suggested that killing the agreement might be a good thing for the country.The C.D. Howe study, which is consistent with several other reports that found that TPP benefits to Canada are among the lowest of the 12 countries, should not come as a surprise. Canada already has free trade deals with several key agreement partners, including the U.S., Mexico, Chile and Peru. Moreover, some Canadian business sectors have told the government they would be better off removing inter-provincial trade barriers before working to open markets like Vietnam and Malaysia.
The government is currently holding cross-country hearings on the Trans-Pacific Partnership. It will be interesting -- and critical -- to see what Chrystia Freeland and Justin Trudeau decide to do with another piece of Stephen Harper's legacy.