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What Is the Trans-Pacific Partnership (TPP)? | CFR |

The Trans-Pacific Partnership (TPP) was the centerpiece of President Barack Obama's strategic pivot to Asia. Before President Donald J. Trump withdrew the United States in 2017, the TPP was set to become the world's largest free trade deal, covering 40 percent of the global economy.

For its supporters, such a deal would have expanded U.S. trade and investment abroad, spurred economic growth, lowered consumer prices, and created new jobs, while also advancing U.S. strategic interests in the Asia-Pacific region. But its detractors, including Trump, saw the deal as likely to accelerate U.S. decline in manufacturing, lower wages, and increase inequality.

With the United States on the sidelines, the remaining TPP countries have forged ahead with a new version of the pact, known as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), keeping most of the original intact. U.S. President-Elect Joe Biden has said he does not support rejoining the TPP as it stands, but that he may try to renegotiate it to include stronger labor and environmental provisions.

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Protests in Brussels as talks on EU-US trade deal falter  [Thank goodness]

by Oui on Thu Dec 31st, 2020 at 07:12:39 PM EST
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