Trans-Pacific Partnership Agreement (TPP)
The Trans-Pacific Partnership Agreement (TPP) is a free trade agreement that would liberalise trade and investment between 12 Pacific-rim countries.
The countries are New Zealand, Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, Peru, Singapore, the United States and Viet Nam.
The concluded TPP Agreement was signed in February 2016. New Zealand, which is the depository for the TPP, ratified the Agreement in May 2017. Japan has also ratified it.
However, the TPP Agreement cannot enter into force until it is also ratified by four other signatories, including the United States. The US has notified that it does not intend to become a party to the Agreement.
In light of the US withdrawal, ministers from the remaining 11 members affirmed the economic and strategic importance of the TPP.
Senior trade officials are now assessing options for bringing TPP into force quickly among themselves. They’re looking at the legal form of the agreement. They’re also talking about parts of the original TPP that might be suspended. If the United States returns to the agreement, any suspended parts would be reinstated. Officials will report to ministers when they meet in the margins of the APEC Economic Leaders Meeting on 10-11 November 2017 in Dan Nang, Viet Nam..
TPP website (external link): Detailed information about TPP and the text of the Agreement
TPP Depository page: Contains the official text and the status of the Agreement.