Sorry, more political mumbo-jumbo. Feel free to move along.
However, I've been keeping half an eye on this since it was first leaked, and the story gets grimmer every time more leaks.
From the United States perspective, there are only a handful of items that would actually affect us, like actual criminalization of copyright infringement, rather than it being primarily a civil issue. However, it's also trying to export the worst of our laws, like criminalizing DRM-circumvention and discussing it, not to mention maximizing copyright terms retroactively where it isn't already Life+70.
The big worry, in the United States, is that they've been pushing for "fast track" status, bypassing Congress in making everything in there law.
The EFF has a good overview and a link to pester people at
Go to Prison for Sharing Files? That's What Hollywood Wants in the Secret TPP Deal