What is the Trans-Pacific Partnership?

Five years in the making, the Trans-Pacific Partnership (TPP) is a trade agreement between the United States, Australia, Canada, Japan, Malaysia, Mexico, Peru, Vietnam, Chile, Brunei, Singapore and New Zealand. The twelve countries in this agreement comprise roughly 40 percent of global G.D.P. and one-third of world trade.

The purpose of the agreement, according to the Office of the U.S. Trade Representative, is to “enhance trade and investment among the TPP partner countries, promote innovation, economic growth and development, and support the creation and retention of jobs.” The agreement could create a new single market for goods and services between these countries, similar to what exists between European countries.

Read the article “Explainer: What You Should Know About the Trans-Pacific Partnership Trade Accord” on blog.acton.org.