The Trans-Pacific Partnership (TPP) is a big deal in the making. With the Doha Round of multilateral trade negotiations at an impasse, the TPP negotiations have taken center stage as the most significant trade initiative of the 21st century. As of December 2012, negotiators have made extensive progress in 15 negotiating rounds since the talks began in March 2010, though hard work remains to finish the deal in the coming year or so. Despite this effort, however, the TPP is not well understood. In part, the reason lies in the dynamism of the TPP initiative. Unlike other free trade pacts, the growing membership as the talks have proceeded, and the broad range, complexity, and novelty of the issues on the agenda have made it difficult to track the substantive detail and progress of the talks.
This Policy Analysis aims to remedy this problem by providing a reader's guide to the TPP initiative. It first assesses how much the TPP countries are alike and like-minded in their pursuit of a comprehensive trade deal. It then examines the current status of the talks, the major substantive sticking points, and the implications of Canada and Mexico joining the talks as well as prospective membership of other countries. The Policy Analysis then looks ahead to how the TPP could advance economic integration in the Asia-Pacific region and the implications for trade relations with China.
|Publisher:||Peterson Institute for International Economics and East-West Center|
|Series:||Policy Analyses in International Economics , #99|
|Product dimensions:||5.90(w) x 8.90(h) x 0.30(d)|
|Age Range:||18 Years|
About the Author
Jeffrey J. Schott joined the Peterson Institute for International Economics in 1983 and is a senior fellow working on international trade policy and economic sanctions. Durgaing his tenure at the Institute, Schott was also a visiting lecturer at Princeton University (1994) and an adjunct professor at Georgetown University (1986–88). He was a senior associate at the Carnegie Endowment for International Peace (1982–83) and an official of the US Treasury Department (1974–82) in international trade and energy policy. Durgaing the Tokyo Round of multilateral trade negotiations, he was a member of the US delegation that negotiated the GATT Subsidies Code. Since January 2003, he has been a member of the Trade and Environment Policy Advisory Committee of the US government. He is also a member of the State Department's Advisory Committee on International Economic Policy.
Barbara Kotschwar, former research fellow, was associated with the Peterson Institute for International Economics from 2007 to October 2015. Her research focuses on trade, investment, and regional integration. Recent projects include comparative analyses of Latin American experiences with free trade agreements, Chinese foreign direct investment (FDI) in Latin America, an assessment of Mexico's economy, and studies on commercial relations between the United States and Middle East and North Africa (MENA) partners.
Julia Muir was a research analyst at the Peterson Institute from March 2010 to June 2013 and worked with Senior Fellows Jeffrey J. Schott and Gary Clyde Hufbauer. Prior to joining the Institute she completed a bachelor of arts degree from McGill University with a concentration in international development studies and economics. She also holds a Master of Economics (Social Sciences) from the University of Sydney. Her master's thesis examined trade regulation in North and South America, examining how the US model of trade has affected regional integration in North and South America.
Table of Contents
1 Introduction 1
2 TPP Participants: How Alike? How Like-Minded? 5
3 Scope and Coverage 11
4 Sticking Points in the TPP Negotiations 17
Textiles, Apparel, and Footwear 24
Intellectual Property Rights 26
Services and Investment 31
Investor-State Dispute Procedures 34
Capital Controls 36
State-Owned Enterprises 37
5 Expanding TPP Participation 41
Canada and Mexico 42
Prospective Entrants 45
6 Moving from TPP to FTAAP 51
7 Whither China? 55
8 Conclusion 61
1.1 Trade indicators, 2011 2
2.1 Development indicators, 2011 7
3.1 FTAs among TPP11 and prospective countries, as of September 2012 15
4.1 Trade in agriculture, 2011 19
4.2 Trade in dairy products, 2011 20
4.3 Intellectual property rights: Current provisions and policy positions 27
4.4 Investment commitments in FTAs among TPP11 countries 33
4.5 Investor-state dispute settlement commitments in FTAs among TPP11 countries, as of September 2012 35
7.1 China's bilateral and regional trade agreements, as of 56
September 2012 56