Assessing the Trans-Pacific Partnership, Volume 2: Innovations in Trading Rules

Jeffrey Schott and Cathleen Cimino-Isaacs ()
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Cathleen Cimino-Isaacs: Peterson Institute for International Economics

No PIIEB16-4 in PIIE Briefings from Peterson Institute for International Economics

Abstract: On February 4, 2016, the United States and 11 other countries signed the Trans-Pacific Partnership (TPP), an ambitious accord that not only lowers barriers to trade and investment in goods and services but also crafts trading rules and standards in important areas such as intellectual property rights (IPR), state-owned enterprises, digital trade, labor, and environment. Now with the agreement signed, the Obama administration and Congress must work together to draft implementing legislation and resolve outstanding issues that may hold up bipartisan support for the deal. TPP compromises related to IPR, labor, and currency are among the most contentious issues. In a series of publications the Peterson Institute for International Economics has undertaken an ambitious assessment of the TPP's key issues and outcomes to provide a useful reader's guide to the trade pact and contribute to a more educated public debate over its ratification by the United States and other member countries. In Volume 1, PIIE scholars analyzed several major market access and sectoral issues in the TPP. In Volume 2, they assess various innovations in trading rules and how TPP provisions build on past practice. TPP rulemaking in new areas could have important implications for future regional deals and the global trading system writ large.

Date: Written 2016-03
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