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TPP Countries Near Agreement without
November 20, 2017 (IN10822)
" Ian F. Fergusson
" Brock R. Williams
Ian F. Fergusson, Specialist in International Trade and Finance (ifergusson~crs.loc.gov, 7-
Brock R. Williams, Analyst in International Trade and Finance (bwilliams~crs.locgov, 7-
On November 11, 2017, the 11 remaining signatories of the Trans-Pacific Partnership (TPP)
agreement, excluding the United States, announced the outlines of the Comprehensive and
Progressive Agreement for Trans-Pacific Partnership (CPTPP), with a final deal reportedly
possible in 2018. The CPTPP would be a vehicle to enact much of the TPP, signed by these
countries and the United States in February 2016. TPP has been stalled since President Trump
withdrew from the pact in January 2017. The withdrawal was the first action under the
President's new trade policy approach, which includes a stated preference for bilateral free
trade agreement (FTA) negotiations over multiparty agreements like TPP, a critical view of
many existing U.S. FTAs, and a prominent focus on bilateral U.S. trade deficits as an indicator
of the health of trade relationships. The Trump Administration is now also engaged in a
renegotiation of the North American Free Trade Agreement (NAFTA) with Canada and
Mexico, two TPP signatories and CPTPP participants; it is also seeking potential amendments
to the U.S.-South Korea FTA (KORUS).
While the United States is not involved in CPTPP, the agreement has the potential to affect the
economic well-being of certain U.S. stakeholders, as well as U.S. leadership on international
trade issues and long-standing U.S. promotion of an open, rules-based trading system. It also
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Fergusson, Ian F. & Williams, Brock R. TPP Countries Near Agreement without U.S. Participation, report, November 20, 2017; Washington D.C.. (https://digital.library.unt.edu/ark:/67531/metadc1043220/m1/1/?q=%22trade%22: accessed April 20, 2019), University of North Texas Libraries, Digital Library, https://digital.library.unt.edu; crediting UNT Libraries Government Documents Department.