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• Trans-Pacific Partnership (TPP) Countries: Comparative Trade and Economic Analysis [May 30, 2012]

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  "The Trans-Pacific Partnership (TPP) is a proposed regional free trade agreement (FTA) currently under negotiation between Australia, Brunei, Chile, Malaysia, New Zealand, Peru, Singapore, the United States, and Vietnam. The negotiating partners have expressed an interest in allowing this proposed 'living agreement' to cover new trade topics and to include new members that are willing to adopt the proposed agreement's high standards. To that end, Canada, Japan, and Mexico have begun consultations with the partner countries about the possibility of joining the negotiations. The TPP negotiations are of significant interest to Congress. Congressional involvement includes consultations with U.S. negotiators on and oversight of the details of the negotiations, and eventual consideration of legislation to implement the final trade agreement. In assessing the TPP negotiations, Members may be interested in understanding the potential economic impact and significance of TPP and the economic characteristics of the other TPP countries as they evaluate the potential impact of the proposed TPP on the U.S. economy and the commercial opportunities for expansion into TPP markets. This report provides a comparative economic analysis of the TPP countries and their economic relations with the United States. It suggests that the TPP negotiating partners encompass great diversity in population, economic development, and trade and investment patterns with the United States. This economic diversity and inclusion of fast-growing emerging markets presents both opportunities and challenges for the United States in achieving a comprehensive and high standard regional FTA among TPP countries."

  Library of Congress. Congressional Research Service

  Williams, Brock R.

  2012-05-30
• U.S. Trade and Investment Relations with sub-Saharan Africa and the African Growth and Opportunity Act [August 2, 2012]

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  "A key element in U.S. policy toward Africa is the potential benefit from increased trade and commercial ties between the United States and Africa. Interest in increasing bilateral commerce began after the end of the apartheid era in South Africa in the early 1990s. In 1993, Congress approved the end of anti-apartheid restrictions, and later that year then-Commerce Secretary Ron Brown led a business delegation to South Africa. In subsequent years, the Administration has also instituted several measures to help sub-Saharan African (SSA) countries and increase U.S. trade and investment in the region. […] One of these provisions, which permits imports of apparel made in designated lesser-developed SSA countries of third-country yarns and fabrics (meaning that the yarns and fabrics may come from any country), subject to a cap, expires on September 30, 2012. This report examines African economic trends and U.S. trade and investment flows with SSA. It discusses the provisions of AGOA [African Growth and Opportunity Act] and the changes that have occurred since its enactment. It concludes with a brief discussion of issues for Congress."

  Library of Congress. Congressional Research Service

  Jones, Vivian Catherine; Williams, Brock R.

  2012-08-02
• U.S. Foreign-Trade Zones: Background and Issues for Congress [September 5, 2012]

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  "U.S. foreign-trade zones (FTZs) are geographic areas declared to be outside the normal customs territory of the United States. This means that, for foreign merchandise entering FTZs and re-exported as different products, customs procedures are streamlined and tariffs do not apply. For products intended for U.S. consumption, full customs procedures are applied and duties are payable when they exit the FTZ. In 1934, in the midst of the Great Depression, Congress passed the U.S. Foreign-Trade Zones Act. It was designed to expedite and encourage international trade while promoting domestic activity and investment. The U.S. FTZ program offers a variety of customs benefits to businesses which combine foreign and domestic merchandise in FTZs. Similar types of 'zones' exist in 135 countries, employing about 66 million workers worldwide. Though some aspects differ, all have streamlined customs procedures and no duties applicable on components and raw materials combined in zones and then exported. Use of the zones can facilitate cooperative international production for a substantial share of the global supply chain. […] Current issues for Congress relating to the U.S. FTZ program may include (1) whether U.S. FTZs encourage a misallocation of U.S. resources; (2) data availability issues; (3) security concerns; and (4) the U.S. employment and global competitiveness impact of FTZs. Broader considerations relating to the world zone network include (5) the effectiveness of trade zones worldwide as a tool for economic development; and (6) trade zones worldwide and worker rights."

  Library of Congress. Congressional Research Service

  Bolle, Mary Jane; Williams, Brock R.

  2012-09-05
• U.S. Foreign-Trade Zones: Background and Issues for Congress [August 28, 2012]

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  "U.S. foreign-trade zones (FTZs) are geographic areas declared to be outside the normal customs territory of the United States. This means that, for foreign merchandise entering FTZs and reexported as different products, customs procedures are streamlined and tariffs do not apply. For products intended for U.S. consumption, full customs procedures are applied and duties are payable when they exit the FTZ. In 1934, in the midst of the Great Depression, Congress passed the U.S. Foreign-Trade Zones Act. It was designed to expedite and encourage international trade while promoting domestic activity and investment. The U.S. FTZ program offers a variety of customs benefits to businesses which combine foreign and domestic merchandise in FTZs. Similar types of 'zones' exist in 135 countries, employing worldwide, about 66 million workers. Though some aspects differ, all have streamlined customs procedures and no duties applicable on components and raw materials combined in zones and then exported. Use of the zones can facilitate cooperative international production for a substantial share of the global supply chain."

  Library of Congress. Congressional Research Service

  Williams, Brock R.; Bolle, Mary Jane

  2012-08-28
• U.S. International Trade: Trends and Forecasts [October 19, 2012]

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  "The global financial crisis and the U.S. recession, during the 19 months from December 2007 through June 2009, caused the U.S. trade deficit to decrease, or lessen, from August 2008 through May 2009. Since then it has begun to increase again as recovery has commenced. The financial crisis caused U.S. imports to drop faster than U.S. exports, but that trend has reversed as U.S. demand for imports recovers. […] Areas to watch in 2012 in international trade include the energy and transportation sectors. In energy, unconventional oil and gas production are increasing U.S. domestic supply, reducing imports, and increasing exports. In transportation, U.S. automakers appear to be exporting well to growth markets such as China. […] This report provides an overview of the current status, trends, and forecasts for U.S. import and export flows as well as certain trade balances. The purpose of this report is to provide current data and brief explanations for the various types of trade flows, along with a brief discussion of trends that help inform the discussion of the various policy issues mentioned above."

  Library of Congress. Congressional Research Service

  Donnelly, J. Michael; Williams, Brock R.

  2012-10-19
• Trans-Pacific Partnership Negotiations and Issues for Congress [March 19, 2013]

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  "The Trans-Pacific Partnership (TPP) is a proposed regional free trade agreement (FTA) being negotiated among the United States, Australia, Brunei, Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam. On March 15, 2013, Japanese Prime Minister Shinzo Abe announced that Japan would seek to participate in the TPP negotiations. [...] The 16th round of negotiations concluded in Singapore on March 14, 2013, and the 17th round is scheduled to be held in Lima, Peru in May 2013. The current goal is to reach an agreement in time for the October 2013 APEC summit in Indonesia. For this deadline to be achieved, outstanding negotiating positions may need to be tabled soon in order for political decisions to be made. [...] As the negotiations proceed, a number of issues important to Congress are emerging. 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. If TPP implementing legislation is brought to Congress, TPA may need to be considered if the legislation is not to be subject to potentially debilitating amendments or rejection. Finally, Congress may seek to weigh in on the addition of new members to the negotiations, before or after the negotiations conclude."

  Library of Congress. Congressional Research Service

  Fergusson, Ian F.; Cooper, William H., 1949-; Jurenas, Remy . . .

  2013-03-19
• Trans-Pacific Partnership (TPP) Countries: Comparative Trade and Economic Analysis [January 29, 2013]

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  "The Trans-Pacific Partnership (TPP) is a proposed regional free trade agreement (FTA) currently under negotiation between Australia, Brunei, Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States, and Vietnam. The negotiating partners have expressed an interest in allowing this proposed 'living agreement' to cover new trade topics and to include new members that are willing to adopt the proposed agreement's high standards. Canada and Mexico are the most recent countries to join the negotiations and Japan has participated in consultations with the partner countries about the possibility of joining. […] This report provides a comparative economic analysis of the TPP countries and their economic relations with the United States. It suggests that the TPP negotiating partners encompass great diversity in population, economic development, and trade and investment patterns with the United States. This economic diversity and inclusion of fast-growing emerging markets presents both opportunities and challenges for the United States in achieving a comprehensive and high standard regional FTA among TPP countries."

  Library of Congress. Congressional Research Service

  Williams, Brock R.

  2013-01-29
• African Growth and Opportunity Act (AGOA): Background and Reauthorization [August 2, 2013]

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  "The African Growth and Opportunity Act (AGOA) is a non-reciprocal trade preference program that provides duty-free treatment to U.S. imports of certain products from eligible sub-Saharan African (SSA) countries. Congress first authorized AGOA in 2000 to encourage export-led growth and economic development in SSA and improve U.S. economic relations with the region. Its current authorization expires on September 30, 2015. In terms of tariff benefits and general eligibility criteria, AGOA is similar to the Generalized System of Preferences (GSP), a U.S. trade preference program that applies to more than 120 developing countries. AGOA, however, covers more products and includes additional eligibility criteria beyond those in GSP. […] Most observers agree that AGOA has successfully led to increased and more diversified exports to the United States from sub-Saharan African countries. Despite this, Congress may wish to address a number of issues and challenges as it considers possible reauthorization of AGOA. Among these challenges is how current and potential AGOA beneficiaries can better utilize the AGOA program and its duty-free benefits. Studies suggest that even among some countries that do make significant use of the AGOA preferences, the low-skill apparel production which AGOA has spurred has not led to the production of higher-skill manufactured products. […] Some argue that the United States should focus more on two-way trade agreements with the region, particularly with more advanced countries such as South Africa, given improving economic conditions in Africa in recent years."

  Library of Congress. Congressional Research Service

  Williams, Brock R.

  2013-08-02
• U.S.-Africa Leaders Summit: Frequently Asked Questions and Background [July 31, 2014]

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  "This report provides information about the early August 2014 U.S.-Africa Leaders Summit in Washington, DC, and policy issues likely to be addressed by participants in the summit and other events being held in conjunction with it. In providing background on key U.S.-Africa policy issues, the report addresses: [1] Africa's development and economic challenges; [2] U.S.-Africa trade, investment, and economic cooperation; [3] U.S. aid to Africa; [4] Governance, democracy, and human rights issues; and [5] Peace and security issues, including selected U.S. responses. […] The summit focuses on the continent as a whole, both sub-Saharan Africa and North Africa, although the Administration's 2012 Africa Strategy focuses on sub-Saharan Africa alone. Likewise, sub-Saharan Africa is the main focus of this report, although some coverage of North Africa is included. […] The report discusses some key social and economic issues in the region. This includes key development challenges--a need for health, education, and other social indicator improvements, especially catering to Africa's youthful population, and a need to address climatic and environmental shocks, among other ends. It also briefly addresses the recent positive shift in Africa's economic environment, including rapid economic growth and growing discretionary spending by consumers, while considering factors that may continue to limit business interest in the region. U.S. trade and investment aid programs, especially trade preferences and trade capacity building efforts under the African Growth and Opportunity Act, which expires in 2015 and may be reauthorized (as the report discusses), are also addressed, as is the nature of U.S. development aid."

  Library of Congress. Congressional Research Service

  Cook, Nicolas; Arieff, Alexis; Blanchard, Lauren Ploch . . .

  2014-07-31
• African Growth and Opportunity Act (AGOA): Background and Reauthorization [July 24, 2014]

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  "The African Growth and Opportunity Act (AGOA) is a nonreciprocal trade preference program that provides duty-free treatment to U.S. imports of certain products from eligible sub-Saharan African (SSA) countries. Congress first authorized AGOA in 2000 to encourage export-led growth and economic development in SSA and improve U.S. economic relations with the region. Its current authorization expires on September 30, 2015. In terms of tariff benefits and general eligibility criteria, AGOA is similar to the Generalized System of Preferences (GSP), a U.S. trade preference program that applies to more than 120 developing countries. AGOA, however, covers more products and includes additional eligibility criteria beyond those in GSP. Additionally, AGOA includes trade and development provisions beyond its duty-free preferences."

  Library of Congress. Congressional Research Service

  Williams, Brock R.

  2014-07-24
• African Growth and Opportunity Act (AGOA): Background and Reauthorization [May 27, 2014]

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  "The African Growth and Opportunity Act (AGOA) is a nonreciprocal trade preference program that provides duty-free treatment to U.S. imports of certain products from eligible sub-Saharan African (SSA) countries. Congress first authorized AGOA in 2000 to encourage export-led growth and economic development in SSA and improve U.S. economic relations with the region. Its current authorization expires on September 30, 2015. In terms of tariff benefits and general eligibility criteria, AGOA is similar to the Generalized System of Preferences (GSP), a U.S. trade preference program that applies to more than 120 developing countries. AGOA, however, covers more products and includes additional eligibility criteria beyond those in GSP. Additionally, AGOA includes trade and development provisions beyond its duty-free preferences. […] Among these challenges is how current and potential AGOA beneficiaries can better utilize the AGOA program and its duty-free benefits. Studies suggest that even among some countries that do make significant use of the AGOA preferences, the lower-skill apparel production which AGOA has spurred has not led to the production of higher-skill manufactured products. Other issues relate to the nonreciprocal nature of the AGOA preferences. Some argue that the United States should focus more on two-way trade agreements with the region, particularly with more advanced countries such as South Africa, given improving economic conditions in Africa in recent years. The European Union (EU), for example, has negotiated Economic Partnership Agreements (EPAs) with several African countries that provide some reciprocal tariff benefits, potentially placing U.S. firms at a competitive disadvantage relative to European firms in some markets."

  Library of Congress. Congressional Research Service

  Williams, Brock R.

  2014-05-27
• Japan-U.S. Relations: Issues for Congress [September 24, 2014]

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  "Japan is a significant partner for the United States in a number of foreign policy areas, particularly in U.S. security priorities, which range from hedging against Chinese military modernization to countering threats from North Korea. The post-World War II alliance has long been an anchor of the U.S. security role in Asia. The alliance facilitates the forward deployment of about 50,000 U.S. troops and other U.S. military assets based in Japan. In addition, Japan's participation in the Trans-Pacific Partnership (TPP) talks could enhance the credibility and viability of the proposed trade pact, which could be a core component of Administration efforts to 'rebalance' U.S. foreign policy priorities toward the Asia-Pacific region. After years of turmoil, Japanese politics has entered a period of stability with the December 2012 election victory of current Prime Minister Shinzo Abe and his Liberal Democratic Party (LDP). New elections are not required to be held until 2016. The LDP's recent election wins have given it control over both chambers, thereby giving Abe more political room to pursue controversial initiatives that the United States has encouraged such as joining the proposed TPP trade pact and increasing the Japanese military's capabilities and flexibility. The political continuity in Tokyo has allowed Abe to reinforce his agenda of revitalizing the Japanese economy and boosting the U.S.-Japan alliance, both goals that the Obama Administration has actively supported."

  Library of Congress. Congressional Research Service

  Chanlett-Avery, Emma; Manyin, Mark E.; Rinehart, Ian E. . . .

  2014-09-24
• U.S.-South Korea Free Trade Agreement (KORUS FTA): Provisions and Implementation [September 16, 2014]

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  "President Obama signed the legislation implementing the U.S.-South Korea Free Trade Agreement (KORUS FTA) on October 21, 2011 (P.L. 112-41), and the Korean National Assembly passed the agreement on November 22, 2011. The KORUS FTA entered into force on March 15, 2012. With the KORUS FTA now in force for over two years, focus has shifted from the debate over its passage to its implementation, economic impact, and effect on future U.S. FTAs. Some U.S. companies have argued that certain aspects of the KORUS agreement are not being implemented appropriately, citing issues related to rules of origin verification, express delivery shipments, data transfers, and pending auto regulations. In addition, a widening trade deficit with South Korea since the implementation of the agreement has led some observers to argue the agreement has not benefitted the U.S. economy, but it is difficult to distinguish the KORUS FTA's impact on U.S.- South Korea trade patterns from the impact of other economic variables. As the largest of the recently passed U.S. FTA's, perceptions of the KORUS FTA's economic impact and concerns over its implementation may influence congressional debate in the new FTAs now under negotiation, specifically the Trans-Pacific Partnership (TPP), which South Korea has signaled an interest in joining, and the Transatlantic Trade and Investment Partnership (T-TIP) between the United States and the European Union."

  Library of Congress. Congressional Research Service

  Williams, Brock R.; Manyin, Mark E.; Jurenas, Remy . . .

  2014-09-16
• Trans-Pacific Partnership (TPP) Negotiations and Issues for Congress [November 19, 2014]

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  "The Trans-Pacific Partnership (TPP) is a potential free trade agreement (FTA) among 12, and perhaps more, countries. The United States and 11 other countries of the Asia-Pacific region--Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam--are negotiating the text of the FTA. With over 20 chapters under negotiation, the TPP partners envision the agreement to be 'comprehensive and high-standard,' in that they seek to eliminate tariffs and nontariff barriers to trade in goods, services, and agriculture, and to establish or expand rules on a wide range of issues including intellectual property rights, foreign direct investment, and other trade-related issues. They also strive to create a '21st-century agreement' that addresses new and cross-cutting issues presented by an increasingly globalized economy. The TPP draws congressional interest on a number of fronts. Congress would have to approve implementing legislation for U.S. commitments under the agreement to enter into force. In addition, under long-established executive-legislative practice, the Administration notifies and consults with congressional leaders, before, during, and after trade agreements have been negotiated. Furthermore, the TPP will likely affect a range of sectors and regions of the U.S. economy of direct interest to Members of Congress and could influence the shape and path of U.S. trade policy for the foreseeable future. This report examines the issues related to the proposed TPP, the state and substance of the negotiations (to the degree that the information is publically available), the specific areas under negotiation, the policy and economic contexts in which the TPP would fit, and the issues for Congress that the TPP presents. The report will be revised and updated as events warrant."

  Library of Congress. Congressional Research Service

  Fergusson, Ian F.; McMinimy, Mark A.; Williams, Brock R.

  2014-11-19
• Trans-Pacific Partnership (TPP) Negotiations and Issues for Congress [November 7, 2014]

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  "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. U.S. negotiators and others describe and envision the TPP as a 'comprehensive and high-standard' FTA that aims to liberalize trade in nearly all goods and services and include rules-based commitments beyond those currently established in the World Trade Organization (WTO). […] 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."

  Library of Congress. Congressional Research Service

  Williams, Brock R.; McMinimy, Mark A.; Fergusson, Ian F.

  2014-11-07
• U.S. Foreign-Trade Zones: Background and Issues for Congress [November 12, 2013]

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  "U.S. foreign-trade zones (FTZs) are geographic areas declared to be outside the normal customs territory of the United States. This means that, for foreign merchandise entering FTZs and reexported as different products, customs procedures are streamlined and tariffs do not apply. For products intended for U.S. consumption, full customs procedures are applied and duties are payable when they exit the FTZ. In 1934, in the midst of the Great Depression, Congress passed the U.S. Foreign-Trade Zones Act. It was designed to expedite and encourage international trade while promoting domestic activity and investment. The U.S. FTZ program offers a variety of customs benefits to businesses which combine foreign and domestic merchandise in FTZs. Similar types of 'zones' exist in 135 countries, employing worldwide, about 66 million workers. Though some aspects differ, all have streamlined customs procedures and no duties applicable on components and raw materials combined in zones and then exported. Use of the zones can facilitate cooperative international production for a substantial share of the global supply chain."

  Library of Congress. Congressional Research Service

  Williams, Brock R.; Bolle, Mary Jane

  2013-11-12
• African Growth and Opportunity Act (AGOA): Background and Reauthorization [June 16,, 2015]

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  "The African Growth and Opportunity Act (AGOA) is a nonreciprocal trade preference program that provides duty-free treatment to U.S. imports of certain products from eligible sub-Saharan African (SSA) countries. There are 49 candidate SSA countries with 39 currently eligible for the preference benefits. Congress first authorized AGOA in 2000 to encourage export-led growth and economic development in SSA and improve U.S. economic relations with the region. Its current authorization expires on September 30, 2015. Bills to renew the preference program (H.R. 1891/S. 1009) were introduced in the House and Senate in April. H.R. 1891 was reported by the House Committee on Ways and Means without amendment. The Senate Finance Committee reported a related measure, S. 1267, with two amendments. On May 14, the Senate passed the provisions of S. 1267, by including them as an amendment in the nature of a substitute to H.R. 1295. On June 11, the House passed a further amended version of H.R. 1295. The two chambers must resolve the differences in H.R. 1295 before the AGOA renewal legislation can be sent to the President and become law. In terms of tariff benefits and general eligibility criteria, AGOA is similar to the Generalized System of Preferences (GSP), a U.S. trade preference program that applies to more than 120 developing countries. AGOA, however, covers more products and includes additional eligibility criteria beyond those in GSP. Additionally, AGOA includes trade and development provisions beyond its duty-free preferences."

  Library of Congress. Congressional Research Service

  Williams, Brock R.

  2015-06-16
• U.S.-South Korea Relations [October 8, 2015]

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  "South Korea (known officially as the Republic of Korea, or ROK) is one of the United States' most important strategic and economic partners in Asia, and since 2009 relations between the two countries arguably have been at their most robust state in decades. Members of Congress tend to be interested in South Korea-related issues for a number of reasons. First, the United States and South Korea have been treaty allies since the early 1950s. The United States is committed to helping South Korea defend itself, particularly against any aggression from North Korea. Approximately 28,500 U.S. troops are based in the ROK and South Korea is included under the U.S. 'nuclear umbrella.' Second, Washington and Seoul cooperate in addressing the challenges posed by North Korea. Third, the two countries' economies are closely entwined and are joined by the Korea-U.S. Free Trade Agreement (KORUS FTA). South Korea is the United States' sixth largest trading partner and the United States is South Korea's second-largest trading partner. South Korea has taken the first steps toward possible entry into the U.S.-led Trans-Pacific Partnership (TPP) free trade agreement negotiations. […] The United States and South Korea signed a new civilian nuclear cooperation agreement in mid- June 2015 to replace the existing agreement, which entered into force in 1974. The agreement, which provides the legal foundation for nuclear trade between the countries, automatically will go into effect in the fall of 2015 unless Congress disapproves it, a move that would be subject to presidential veto."

  Library of Congress. Congressional Research Service

  Manyin, Mark E.; Chanlett-Avery, Emma; Nikitin, Mary Beth Dunham . . .

  2015-10-08
• Trans-Pacific Partnership (TPP): In Brief [November 19, 2015]

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  From the Summary: "The Trans-Pacific Partnership (TPP) is a proposed free trade agreement (FTA) among 12 Asia-Pacific countries, with both economic and strategic significance for the United States. If approved, it would be the largest FTA in which the United States participates. The 12 countries announced the conclusion of the TPP negotiations on October 5, 2015, after several years of ongoing talks. The President released the text of the agreement and notified Congress of his intent to sign on November 5, 2015. Congress would need to pass implementing legislation for a final TPP agreement to enter into force for the United States. Such legislation would be eligible to receive expedited legislative consideration under the recent grant of Trade Promotion Authority (TPA), P.L. 114-26, if Congress determines the Administration has advanced the TPA negotiating objectives, and met various notification and consultation requirements. TPP negotiating parties include Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States, and Vietnam. […] The Obama Administration, joined by many analysts as well as many policymakers in the region, has argued that the strategic value of a potential TPP agreement parallels its economic value, contending that the agreement would strengthen U.S. allies and partners and reaffirm U.S. economic leadership in the region. The President has repeatedly highlighted the importance of maintaining U.S. leadership in crafting global trade rules, notably with reference to potentially alternative Chinese initiatives."

  Library of Congress. Congressional Research Service

  Fergusson, Ian F.; McMinimy, Mark A.; Williams, Brock R.

  2015-11-19
• Japan-U.S. Relations: Issues for Congress [September 29, 2015]

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  "Japan is a significant partner of the United States in a number of foreign policy areas, particularly in U.S. security priorities, which range from hedging against Chinese military modernization to countering threats from North Korea. The alliance facilitates the forward deployment of about 50,000 U.S. troops and other U.S. military assets based in Japan. In addition, Japan's participation in the Trans-Pacific Partnership (TPP) talks increases the significance of the proposed trade pact, which is a core component of Obama Administration efforts to 'rebalance' U.S. foreign policy priorities toward the Asia-Pacific region. After years of turmoil, Japanese politics has been relatively stable since the December 2012 election victory of current Prime Minister Shinzo Abe and his Liberal Democratic Party (LDP). Abe was re-elected as leader of his party in September 2015. The Japanese constitution does not require new Lower House elections until 2018. […] Japan, the United States, and 10 other countries are participating in the TPP free trade agreement negotiations. If successful, the negotiations could reinvigorate a bilateral economic relationship by addressing long-standing, difficult issues in the trade relationship. On the other hand, failure to do so could set back the relationship. If a TPP agreement is reached, Congress must approve implementing legislation before it would take effect in the United States."

  Library of Congress. Congressional Research Service

  Chanlett-Avery, Emma; Manyin, Mark E.; Rinehart, Ian E. . . .

  2015-09-29
• Trans-Pacific Partnership (TPP): In Brief [January 8, 2016]

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  "The Trans-Pacific Partnership (TPP) is a proposed free trade agreement (FTA) among 12 Asia-Pacific countries, with both economic and strategic significance for the United States. If approved, it would be the largest FTA in which the United States participates. The 12 countries announced the conclusion of the TPP negotiations on October 5, 2015, after several years of ongoing talks. The President released the text of the agreement and notified Congress of his intent to sign on November 5, 2015. Congress would need to pass implementing legislation for a final TPP agreement to enter into force for the United States. [...] The Obama Administration, joined by many analysts as well as many policymakers in the region, has argued that the strategic value of a potential TPP agreement parallels its economic value, contending that the agreement would strengthen U.S. allies and partners and reaffirm U.S. economic leadership in the region. The President has repeatedly highlighted the importance of maintaining U.S. leadership in crafting global trade rules, notably with reference to potentially alternative Chinese initiatives. China is not a party to the TPP. Others argue that past trade pacts have had a limited impact on broad foreign policy dynamics."

  Library of Congress. Congressional Research Service

  Fergusson, Ian F.; McMinimy, Mark A.; Williams, Brock R.

  2016-01-08
• Trans-Pacific Partnership (TPP): In Brief [February 9, 2016]

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  "The Trans-Pacific Partnership (TPP) is a proposed free trade agreement (FTA) among 12 Asia-Pacific countries, which the Obama Administration casts as comprehensive and high standard, with economic and strategic significance for the United States. The 12 countries (including the United States) announced the conclusion of the TPP negotiations and released the text of the agreement in late 2015. Trade ministers from the TPP countries signed the final agreement text on February 4, 2016, but Congress would need to pass implementing legislation for the agreement to enter into force for the United States. It would be eligible to receive expedited legislative consideration under Trade Promotion Authority (TPA), P.L. 114-26, if Congress determines the Administration has advanced the TPA negotiating objectives, and has met various notification and consultation requirements. Through the TPP, the participating countries seek to liberalize trade and investment and establish new rules and disciplines in the region beyond those that already exist in the World Trade Organization (WTO). The FTA is envisioned as a living agreement open to future members and new issues and may become a vehicle to advance a wider Asia-Pacific free trade area. Indonesia, the Philippines, and South Korea have recently indicated their interest in joining the TPP. It is also a U.S. policy response to the rapidly increasing economic and strategic linkages among Asian-Pacific nations and has become the economic centerpiece of the Administration's 'rebalance' toward the region. […]This report briefly summarizes some of the key provisions listed generally in alphabetical order. Additional analysis of the agreement will be forthcoming."

  Library of Congress. Congressional Research Service

  Fergusson, Ian F.; McMinimy, Mark A.; Williams, Brock R.

  2016-02-09
• Trans-Pacific Partnership (TPP): Key Provisions and Issues for Congress [June 14, 2016]

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  "The Trans-Pacific Partnership (TPP) is a proposed free trade agreement (FTA) among 12 Asia-Pacific countries, with both economic and strategic significance for the United States. The proposed agreement is perhaps the most ambitious FTA undertaken by the United States in terms of its size, the breadth and depth of its commitments, its potential evolution, and its geo-political significance. Signed on February 4, 2016, after several years of negotiations, if implemented, TPP would be the largest FTA in which the United States participates, and would eliminate trade barriers and establish new trade rules and disciplines on a range of issues among TPP partners not found in previous U.S. FTAs or the World Trade Organization (WTO). In addition, the TPP is designed to better integrate the United States into the growing Asia-Pacific region and has become the economic centerpiece of the Administration's 'rebalance' to the region. Congress would need to enact implementing legislation for the agreement to enter into force for the United States. Such legislation would be considered under Trade Promotion Authority (TPA) procedures, unless Congress determines the Administration has not met TPA requirements."

  Library of Congress. Congressional Research Service

  Fergusson, Ian F.; Williams, Brock R.

  2016-06-14
• Trans-Pacific Partnership (TPP): Key Provisions and Issues for Congress [May 4, 2016]

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  "The Trans-Pacific Partnership (TPP) is a proposed free trade agreement (FTA) among 12 Asia-Pacific countries, with both economic and strategic significance for the United States. The proposed agreement is perhaps the most ambitious FTA undertaken by the United States in terms of its size, the breadth and depth of its commitments, its potential evolution, and its geo-political significance. Signed on February 4, 2016, after several years of negotiations, if implemented, TPP would be the largest FTA in which the United States participates, and would eliminate trade barriers and establish new trade rules and disciplines on a range of issues among TPP partners not found in previous U.S. FTAs or the World Trade Organization (WTO). In addition, the TPP is designed to better integrate the United States into the growing Asia-Pacific region and has become the economic centerpiece of the Administration's 'rebalance' to the region. Congress would need to enact implementing legislation for the agreement to enter into force for the United States. Such legislation would be considered under Trade Promotion Authority (TPA) procedures, unless Congress determines the Administration has not met TPA requirements."

  Library of Congress. Congressional Research Service

  Fergusson, Ian F.; Williams, Brock R.

  2016-05-04
• U.S.-South Korea Relations [October 20, 2016]

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  "South Korea [...] is one of the United States' most important strategic and economic partners in Asia, and since 2009 relations between the two countries arguably have been at their most robust state in decades. Several factors drive congressional interest in South Korea-related issues. First, the United States and South Korea have been military allies since the early 1950s. [...] Approximately 28,500 U.S. troops are based in the ROK [Republic of Korea] and South Korea is included under the U.S. 'nuclear umbrella.' Second, Washington and Seoul cooperate in addressing the challenges posed by North Korea. Third, the two countries' economies are closely entwined and are joined by the Korea-U.S. Free Trade Agreement (KORUS FTA). South Korea is the United States' seventh-largest trading partner and the United States is South Korea's second-largest trading partner. South Korea has repeatedly expressed interest in and consulted with the United States on possibly joining the U.S.-led Trans-Pacific Partnership (TPP) free trade agreement, which has been signed, but not yet ratified by the current 12 participants. [...] Dealing with North Korea is the dominant strategic concern of the U.S.-South Korean relationship. [...] On broad strategic matters in East Asia, while South Korean and U.S. perspectives overlap, there are areas of significant differences. For instance, South Korea often hesitates to take steps that antagonize China and has shown mistrust of Japan's efforts to expand its military capabilities. North Korea's 2016 nuclear weapons tests and missile launches, however, potentially have shifted the geopolitical dynamics in Northeast Asia in ways that could bring the United States and South Korea closer together on the best approaches to China and Japan."

  Library of Congress. Congressional Research Service

  Manyin, Mark E.; Chanlett-Avery, Emma; Nikitin, Mary Beth Dunham . . .

  2016-10-20
• U.S.-South Korea Relations [March 28, 2016]

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  From the Summary: "South Korea (known officially as the Republic of Korea, or ROK) is one of the United States' most important strategic and economic partners in Asia, and since 2009 relations between the two countries arguably have been at their most robust state in decades. Several factors drive congressional interest in South Korea-related issues. First, the United States and South Korea have been military allies since the early 1950s. The United States is committed to helping South Korea defend itself, particularly against any aggression from North Korea. Approximately 28,500 U.S. troops are based in the ROK and South Korea is included under the U.S. 'nuclear umbrella.' Second, Washington and Seoul cooperate in addressing the challenges posed by North Korea. Third, the two countries' economies are closely entwined and are joined by the Korea-U.S. Free Trade Agreement (KORUS FTA). South Korea is the United States' seventh-largest trading partner and the United States is South Korea's second-largest trading partner. South Korea has repeatedly expressed interest in and consulted with the United States on possibly joining the U.S.-led Trans-Pacific Partnership (TPP) free trade agreement, which has been signed, though not yet ratified by the current 12 participants."

  Library of Congress. Congressional Research Service

  Manyin, Mark E.; Chanlett-Avery, Emma; Nikitin, Mary Beth Dunham . . .

  2016-03-28
• Trans-Pacific Partnership (TPP) Countries: Comparative Trade and Economic Analysis [June 10, 2013]

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  "The Trans-Pacific Partnership (TPP) is a proposed regional free trade agreement (FTA) among 12 countries: Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States, and Vietnam. The negotiating partners have expressed an interest in allowing this proposed 'living agreement' to cover new trade topics and to include new members that are willing to adopt the proposed agreement's high standards. Japan is the most recent country to seek entry into the TPP. The Administration gave Congress notice of its intent to negotiate with Japan in the TPP on April 24, 2013. The TPP negotiations have been of significant interest to Congress. Congressional involvement includes consultations with U.S. negotiators on and oversight of the details of the negotiations, and eventual consideration of legislation to implement the final trade agreement. In assessing the TPP negotiations, Members may be interested in understanding the potential economic impact and significance of TPP and the economic characteristics of the other TPP countries as they evaluate the potential impact of the proposed TPP on the U.S. economy and the commercial opportunities for expansion into TPP markets. This report provides a comparative economic analysis of the TPP countries and their economic relations with the United States. It suggests that the TPP negotiating partners encompass great diversity in population, economic development, and trade and investment patterns with the United States. This economic diversity and inclusion of fast-growing emerging markets presents both opportunities and challenges for the United States in achieving a comprehensive and high standard regional FTA among TPP countries."

  Library of Congress. Congressional Research Service

  Williams, Brock R.

  2013-06-10
• Trans-Pacific Partnership Negotiations and Issues for Congress [June 17, 2013]

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  "The Trans-Pacific Partnership (TPP) is a proposed regional free trade agreement (FTA) being negotiated among the United States, Australia, Brunei, Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam. On March 15, 2013, Japanese Prime Minister Shinzo Abe announced that Japan would seek to participate in the TPP negotiations. On April 24, 2013, the Obama Administration gave Congress notice of its intent to negotiate with Japan in the TPP, and Japan is expected to participate in the next round of negotiations in late July 2013. U.S. negotiators and others describe and envision the TPP as a 'comprehensive and high-standard' FTA that aims to liberalize trade in nearly all goods and services and include commitments beyond those currently established in the World Trade Organization (WTO). The broad outline of an agreement was announced on the sidelines of the Asia-Pacific Economic Cooperation (APEC) ministerial in November 2011, in Honolulu, HI. If concluded as envisioned, the TPP potentially could eliminate tariff and non-tariff barriers to trade and investment among the parties and could serve as a template for a future trade pact among APEC members and potentially other countries. Congress has a direct interest in the negotiations, both through influencing U.S. negotiating positions with the executive branch, and by passing legislation to implement any resulting agreement."

  Library of Congress. Congressional Research Service

  Williams, Brock R.; Jurenas, Remy; Cooper, William H., 1949- . . .

  2013-06-17
• International Trade and Finance: Key Policy Issues for the 114th Congress [January 02, 2015]

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  "The U.S. Constitution grants authority over the regulation of foreign commerce to Congress. It exercises this authority in numerous ways, including through oversight of trade policy and the consideration of legislation to approve trade agreements and authorize trade programs. Policy issues cover such areas as: U.S. trade negotiations; U.S. trade and economic relations with regions and countries; international trade institutions; tariff and nontariff barriers; worker dislocation from trade liberalization; trade remedy laws; import and export policies; international investment; economic sanctions; and trade policy functions of the federal government. Congress also has an important role in international finance. It has the authority over U.S. financial commitments to international financial institutions and oversight responsibilities for trade- and finance-related agencies of the U.S. Government. The 113th Congress reauthorized the Export-Import Bank through June 30, 2015, enacted or maintained economic sanctions against Russia and Iran, continued its oversight of the Administration's ongoing trade negotiations, and funded Trade Adjustment Assistance (TAA) programs, among other action. Members also introduced a range of legislation on international trade and finance issues, including bicameral legislation to renew Trade Promotion Authority (TPA)."

  Library of Congress. Congressional Research Service

  Irace, Mary A.; Williams, Brock R.

  2015-01-02
• African Growth and Opportunity Act (AGOA): Background and Reauthorization [March 13, 2015]

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  "In 2000, Congress passed the African Growth and Opportunity Act (AGOA), a U.S. trade preference program, in order to help spur market-led economic growth and development in sub-Saharan Africa (SSA) and deepen U.S. trade and investment ties with the region. Since its enactment, Congress has amended AGOA five times, making some technical changes and renewing the trade preferences through September 30, 2015. […] Some Members of Congress, the Obama Administration, and many African governments have highlighted the successes of AGOA and have called for an expedited reauthorization process. As part of this process, Congress may wish to consider whether AGOA, in its current form, is achieving the initial goals of the program, including whether it addresses effectively the changing economic circumstances in Africa. Most interested observers are positive about the AGOA preference program, but some have expressed concerns about specific provisions of the program, such as the lack of coverage for certain agricultural products, or would like to see the AGOA preferences granted to a broader range of least-developed countries beyond just Africa. Others would like to see a broader program that addresses concerns over U.S. businesses' ability to effectively compete in the region, though this could also be addressed in complementary legislation or Administration initiatives. This report seeks to inform the discussion on the potential reauthorization of AGOA through analysis of (1) the components of the AGOA legislation; (2) U.S. import trends associated with AGOA; (3) the impact of AGOA on African economies and U.S.-Africa trade; and (4) the issues surrounding the reauthorization process."

  Library of Congress. Congressional Research Service

  Williams, Brock R.

  2015-03-13