Trans Pacific Partnership TPP The Trans Pacific Partnership TPP is a trade agreement of unprecedented scope and ambition with fantastic potential to drive job-creating growth across the U

Trans Pacific Partnership (TPP) The Trans Pacific Partnership (TPP) is a trade agreement of unprecedented scope and ambition with fantastic potential to drive job-creating growth across the U.S.
economy. Presently, the TPP consists of 12 countries: The United States, Canada, Mexico, Japan, Australia, New Zealand, Malaysia, Peru, Chile, Vietnam, Singapore, and Brunei. Signed on February 4, 2016 (but not however put into force), the TPP has the stated objective to "promote economic growth; support the creation and retention of jobs; improve innovation, productivity and competitiveness; raise living standards; reduce poverty inside its nations; and promote transparency, good governance, and enhanced labor and environmental protections." The countries presently party to the agreement are some of the U.S.' greatest and fastest-growing commercial partners, accounting for $1.5 trillion worth of trade in goods and $250 billion worth of services annually.

They produce about 40% of the world's GDP and 26% of the world's trade. Amongst other things, the TPP consists of measures to lower trade barriers such as tariffs, and establish an investor-state dispute settlement mechanism. The U.S. government has regarded as the TPP as the companion agreement to the proposed Transatlantic Trade and Investment Partnership (TTIP), a similar agreement in between the U.S.

and the European Union. The TPP will provide new market access opportunities for U.S. exporters of goods and services, as well as investors, which are additional to the U.S.� current free trade agreements. For investment, the TPP will create new opportunities and provide a more predictable and transparent regulatory environment.

The TPP will also establish a more seamless trade and investment environment across the 12 countries by setting commonly-agreed guidelines and advertising transparency of laws and regulations. The TPP will provide greater certainty for businesses, reduce costs and red tape, and facilitate participation in regional supply chains.
For more information on the TPP, go to the United States Trade Representative at: website website Pacific Partnership TPP

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