Fran O'Sullivan analyses the implications of yesterday's big announcement on the US joining the P4 investment and financial services negotiations, and the work that has begun on considering the possibility of joining the full Trans-Pacific Strategic Economic Partnership. Fran looks at the Australian angle and at the domestic political implications:
Greens co-leader Russel Norman was quick to rain on Goff's parade, calling on Labour to halt discussions on an investment treaty because of "sovereignty risks and issues dealing with environmental standards".
Labour will be tempted to tread carefully around Norman because of electoral considerations. But frankly, this is one area where the Cabinet should show some courage and tell the Greens to take a jump.
Goff has yet to take the proposal to Cabinet.
At the end of the day Labour will be able to rely on strong support from National to secure this investment accord. The issue is simply too important to allow the tail to wag the dog here.
