ABSTRACT

TPP Countries Sign New CPTPP Agreement Without U.S. Participation [March 9, 2018]   [open pdf - 205KB]

"On March 8, 2018, the 11 remaining signatories of the Trans-Pacific Partnership (TPP) agreement, excluding the United States, signed the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). The CPTPP parties announced the outlines of the agreement in November 2017 and concluded the negotiations in January 2018. The CPTPP, which requires ratification by 6 of the 11 signatories to become effective, would be a vehicle to enact much of the TPP, signed by these countries and the United States in February 2016 and 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:
Publisher:
Date:
2018-03-09
Copyright:
Public Domain
Retrieved From:
Via E-mail
Format:
pdf
Media Type:
application/pdf
URL:
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