Policy Analysis 99: Understanding the Trans-Pacific Partnership is a thorough appraisal of the current status of the negotiations as of December 2012, the main issues that remain to be resolved (including the possible addition of more participating countries), and the prospects for completing the talks.
The Trans-Pacific Partnership (TPP) is a big deal in the making. With the Doha Round of multilateral trade negotiations at an impasse, the TPP negotiations have taken center stage as the most significant trade initiative of the 21st century. As of December 2012, negotiators have made extensive progress in 15 negotiating rounds since the talks began in March 2010, though hard work remains to finish the deal.
Despite this effort, however, the TPP is not well understood. In part, the reason lies in the dynamism of the TPP initiative. Unlike other free trade pacts, the growing membership as the talks have proceeded and the broad range, complexity, and novelty of the issues on the agenda have made it difficult to track the substantive detail and progress of the talks.
This Policy Analysis aims to remedy this problem by providing a reader’s guide to the TPP initiative. It first assesses how much the TPP countries are alike and like-minded in their pursuit of a comprehensive trade deal. It then examines the current status of the talks, the major substantive sticking points, and the implications of Canada and Mexico joining the talks as well as prospective membership of other countries. The Policy Analysis then looks ahead to how the TPP could advance economic integration in the Asia-Pacific region and the implications for trade relations with China.
“…more than an introduction, it is an essential aid for anyone who wants to know what is involved and what the stakes are in TPP.”
—Alan Wm. Wolff, Senior Counsel, McKenna Long & Aldridge LLP
The Peterson Institute released two new Policy Analyses in International Economics examining the Trans-Pacific Partnership (TPP) on December 19, 2012. PIIE Senior Fellow Jeffrey J. Schott presented the findings of Policy Analysis 99: Understanding the Trans-Pacific Partnership, and Professor Peter A. Petri of Brandeis University similarly discussed Policy Analysis 98: The Trans-Pacific Partnership and Asia-Pacific Integration: A Quantitative Assessment. The TPP negotiations are planned to be completed in 2015 and are the largest and most important trade talks taking place anywhere in the world.
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The Trans-Pacific Partnership and Asia-Pacific Integration: A Quantitative Assessment, Peter Petri, et. al., Dec 2012
slide presentation #1 | slide presentation #2 (benefits to Vietnam, U.S., China) | video
Panel Discussion and Q&A: Fred Bergsten, Jeffrey Schott, Peter Petri, Dec 19, 2012 video
Posted: Feb 24, 2013; Updated: Apr 18, 2015