Trans-Pacific Partnership

The Trans-Pacific Partnership (TPP), also known as the Trans-Pacific Partnership Agreement (TPPA), was a proposed trade agreement among 12 Pacific Rim countries. These countries included Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States, and Vietnam. The TPP aimed to deepen economic ties between these nations, slashing tariffs and fostering trade to boost growth. It also sought to establish a closer relationship on economic policies and regulation.

Origins and Development

The TPP traces its origins back to the Trans-Pacific Strategic Economic Partnership Agreement (TPSEP), also referred to as P4, which was signed by Brunei, Chile, New Zealand, and Singapore in 2005. This agreement laid the groundwork for the broader TPP initiative, which began to take shape in 2008 when these nations, along with new participants, commenced negotiations to expand the agreement, eventually forming a 12-member coalition.

Negotiations and Signing

The negotiations for the TPP were both extensive and complex, involving various rounds of discussions over several years. All twelve participating countries eventually signed the TPP on February 4, 2016. The agreement was set to enter into force following ratification by all signatories within a specified two-year period. However, the agreement faced significant hurdles, particularly from domestic political landscapes within member countries.

U.S. Withdrawal and the CPTPP

Upon taking office in January 2017, President Donald Trump formally withdrew the United States from the TPP, a move that prevented the agreement from being ratified and coming into effect as originally planned. In response to the U.S. withdrawal, the remaining countries moved forward to establish a new trade agreement known as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). This agreement incorporated most provisions of the TPP and officially came into force on December 30, 2018.

Comprehensive and Progressive Agreement for Trans-Pacific Partnership

The CPTPP, often referred to as TPP-11, emerged as a resilient alternative to the original TPP framework. It included the same Pacific Rim countries minus the United States, and continued to emphasize the elimination of tariffs and promotion of free trade across the Asia-Pacific region. The agreement also made provisions for expanding membership, allowing other countries to join under certain conditions.

Impact and Controversy

The TPP and its successor, the CPTPP, stirred considerable debate and controversy. Proponents argued that these agreements would drive economic growth, create jobs, and promote innovation across member states. However, critics raised concerns about the potential impacts on domestic industries, labor rights, environmental standards, and intellectual property rights. The negotiations were often criticized for their lack of transparency, leading to public skepticism and opposition in several participating nations.