Many SMEs are glad to see the talks fail as they believe it will provide additional time for them to adjust to greater economic integration.
This company’s yearly export turnover to the US and Japan stands at around 10 million USD per country. If the TPP agreement was signed, the average tariff upon textile products would fall from 10-15% to 0%. This would possibly see the company’s export turnover increase by 20%. In order to prepare for this scenario, the company has purchased new machinery and trained their workers. Needless to say, they’re disappointed about the failed negotiations.
