Modelling the Harmonizing of Non-Tariff Measures on Goods in the Comprehensive and Progressive Trans-Pacific Partnership

Anna Strutt, Terrie Walmsley, Christian Knebel and Ralf Peters

No 332961, Conference papers from Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project

Abstract: The Trans-Pacific Partnership (TPP) aimed to be a high standard trade agreement that would improve market access for goods and services through the reduction of both tariff and non-tariff measures (NTMs), as well as addressing regulations in areas such as intellectual property (IP), labor standards, state owned enterprises and investment, among others. While the withdrawal of the United States from the agreement in January 2017 was a significant setback, the 11 remaining members have renegotiated a Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) that includes many elements negotiated as part of the original TPP agreement. A number of impact assessments of the original TPP agreement found that reductions in NTMs could bring significant gains; however, there was acknowledgement that the data and modelling mechanisms were in their infancy. In the current study, we make significant advances in this area, using a comprehensive new data database on NTMs to generate sector-specific, bilateral estimates of the price impact of harmonizing NTMs for TPP countries. These estimates are than used with newly developed CGE modelling mechanisms to assess the impacts of harmonizing NTMs on goods trade in the TPP region.

Keywords: International; Relations/Trade (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:ags:pugtwp:332961

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