I am going to talk only about pharmaceutical issues. From that perspective, the TPP is going to have potential negative effects—we really won't know until the disputes start and we see how it is going to be interpreted—on both prices and regulations. For instance, a colleague and I did calculations on the effects of CETA, the Comprehensive Economic and Trade Agreement with the European Union. We calculated that by 2023, overall drug expenditures in Canada would go up between 6% and 12%. Currently, we are spending $29 billion, so it would go up between $2 billion and $3.2 billion, if we looked at today's situation. Similarly, with respect to regulation, the drug companies in the United States and Japan are pushing to get drugs through the approval process faster. From previous research that I have done, faster approval means more safety problems once the drugs are on the market.
