History Of Trans Pacific Partnership - 899 Words

Bihj’an Harvey Professor Chandler English 1C 23 July 2015 History of the Trans-Pacific Partnership The Trans-Pacific Partnership (TPP) is a secretive, multinational trade agreement being negotiated among countries bordering the Pacific Ocean, including the United States, Japan, Vietnam, Australia, Chile, Malaysia, New Zealand, Singapore, Canada, Mexico, and Brunei Darussalam. Together they represent about 40% of the global Gross Domestic Product (GDP). The TPP is expected to reduce (or eliminate) trade barriers, facilitate the development of production and supply chains, boost competitiveness and increase the standard of living within the countries involved with the partnership. The agreement could require countries to adopt stricter labor†¦show more content†¦Shortly after the passage of the North American Free Trade Agreement (NAFTA) in 1993, the Clinton administration initiated talks for NAFTA-style â€Å"free trade† blocs with Asian Pacific countries. In 1994, negotiations for both the Asian Pacific Economic Cooperation (APEC) and Free Trade Area of the America s (FTAA) free trade agreements launched. In late 2000, Singapore, New Zealand and Chile launch talks for the â€Å"Trans-Pacific Strategic Economic Partnership Agreement†. During 2002, APEC leaders began negotiations on the Pacific Three Closer Economic Partnership (P3-CEP). Brunei took part as a full negotiating party in April 2005, before the fifth, and final round of talks. Subsequently, the agreement was renamed the TPSEP (Trans-Pacific Strategic Economic Partnership agreement or Pacific-4). Negotiations on the TSEP concluded by Brunei, Chile, New Zealand and Singapore on June 3rd, 2005. The United States became engaged in the TPP negotiations in September 2008 after President Bush notified Congress that the U.S. would join P-4 talks despite no delegation of congressional trade authority or negotiating objectives. Two months later, Vietnam, Peru, and Australia announced that they would join the P-4 trade bloc. After the inauguration of President Barack Obama in January 2009, the March 2009