The Trans-Pacific Partnership (TPP) agreement is a regional trade agreement that the United States negotiated with 11 other Asia-Pacific countries (Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam). However, there are also the issues are addressed by TPP agreement. The TPP is a comprehensive and high-standard agreement that will support U.S. economic growth and jobs and address 21st century trade issues to help American companies, workers and farmers stay competitive.
The TPP agreement addresses the types of issues that the United States has included in its past FTAs, such as market access for goods and services, the protection of intellectual property, strong investment protections including investor-state dispute settlement, and government procurement. It is also establishes disciplines in such key new areas as competition with state-owned enterprises (SOEs), digital commerce and the protection of cross-border data flows, emerging issues related to intellectual property rights, and regulatory cooperation.
The TPP countries used the U.S. approach of negotiating services (including financial services) and investment commitments on a “negative list” basis (i.e., all commitments are binding on a TPP country unless it explicitly excludes itself from a commitment). This resulted in substantially increased market access opportunities for the United States. The TPP agreement also includes strong labor and environment provisions.