9 Feb, 2016
Trans-Pacific Partnership (TPP): In Brief [February 9, 2016]
Library of Congress. Congressional Research Service
Fergusson, Ian F.; McMinimy, Mark A.; Williams, Brock R.
"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."
  • URL
  • Authors
    Fergusson, Ian F.
    McMinimy, Mark A.
    Williams, Brock R.
  • Publisher
    Library of Congress. Congressional Research Service
  • Report Number
    CRS Report for Congress, R44278
  • Date
    9 Feb, 2016
  • Copyright
    Public Domain
  • Retrieved From
    Federation of American Scientists: www.fas.org/sgp/crs/index.html
  • Format
  • Media Type
  • Subjects
    Politics and government/International relations
    Management and economics/Economics
    Trans-Pacific Strategic Economic Partnership Agreement (2005 June 3)
    Free trade
    Pacific Area
  • Resource Group
    Reports (CRS)
  • Series
    CRS Report for Congress, R44278

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