| Abstract: | The Trans-Pacific Partnership (TPP), signed in February 2016, is the most ambitious free trade deal of the postwar era. The 12 TPP countries account for nearly 40 percent of the world's economy. Coupled with the Transatlantic Trade and Investment Partnership—which is still being negotiated between the United States and the European Union—the TPP represents an attempt by the Obama Administration to lead in promoting regional trade and investment arrangements despite the failure of the Doha Round to reach a comprehensive global trade deal under the auspices of the World Trade Organization. Although the agreement among the 12 TPP countries has been reached, ratification by their legislatures is pending. Ratification by the US Congress remains uncertain due to complex economic and political factors in the United States, including the presidential election of 2016. |
