"On November 11, 2017, the 11 remaining signatories of the Trans-Pacific Partnership (TPP) agreement, excluding the United States, announced the outlines of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). On January 23, 2018, the parties announced they had concluded negotiations on the CPTPP and plan to sign the pact in early March. The CPTPP would be a vehicle to enact much of the TPP, signed by these countries and the United States in February 2016 from which President Trump withdrew in January 2017. The withdrawal was the first action under the President's new trade policy approach, which includes a stated preference for bilateral free trade agreement (FTA) negotiations over multiparty agreements like TPP, a critical view of many existing U.S. FTAs, and a prominent focus on bilateral U.S. trade deficits as an indicator of the health of trade relationships. The Trump Administration has also been engaged, since August 2017, in a renegotiation of the North American Free Trade Agreement (NAFTA) with Canada and Mexico, two TPP signatories and CPTPP participants. On January 5, 2018, the Administration began official talks with South Korea on potential modifications to the U.S.-South Korea FTA (KORUS)."
|Report Number:||CRS Insight, IN10822|
|Author:||Fergusson, Ian F.|
Williams, Brock R.
|Publisher:||Library of Congress. Congressional Research Service|
|Retrieved From:||Federation of American Scientists: http://www.fas.org/sgp/crs/index.html|