If its like NAFTA, it will only apply to big corporations, not small businesses. So a guy in Hong Kong doing business with a guy in San Francisco won't see any benefits.
To me, the biggest outward effect of NAFTA has been the Americanization of Mexico. Going to Mexico used to be like going to another planet, but now you see Walmart, Office Depot, Best Buy, etc... all over the place. The Mexican government used to keep those companies out but NAFTA opened the door to them.
I would expect this new trade agreement to be similar. The big companies colluding to squeeze out the little guy.