Trans-Pacific Partnership (TPP) Negotiations and Issues for Congress [March 20, 2015] [open pdf - 867KB]
"The Trans-Pacific Partnership (TPP) is a proposed regional free trade agreement (FTA) being negotiated among the United States, Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam. […] As a leading trade policy initiative of the Obama Administration, the TPP serves several strategic goals. It is a manifestation of the Administration's 'rebalance' to the Asia-Pacific, and if concluded, may serve to shape the economic architecture of the region. It has the potential to harmonize existing agreements with U.S. FTA partners, attract new participants, and establish regional rules on new policy issues facing the global economy--possibly providing impetus to future multilateral liberalization under the WTO [World Trade Organization]. As the negotiations proceed, a number of issues important to Congress have emerged. One is whether the United States can balance its vision of creating a 'comprehensive and high standard' agreement with a large and expanding group of countries, while not insisting on terms that other countries will reject. Another issue is how Congress will consider the TPP, if concluded. The present negotiations are not being conducted under the auspices of formal trade promotion authority (TPA)--the latest TPA expired on July 1, 2007--although the Administration informally is following the procedures of the former TPA. Different views exist regarding the appropriate timing of potential TPA legislation relative to the possible conclusion of the TPP. Other issues include whether the current chapters included in the agreement appropriately address congressional trade policy concerns and how the potential agreement may impact the multilateral trading system and other trade negotiations, including for a proposed U.S.-EU Trans-Atlantic Trade and Investment Partnership (T-TIP) agreement."
CRS Report for Congress, R42694
Federation of American Scientists: http://www.fas.org/sgp/crs/index.html