The political economy of the Trans-Pacific Partnership: a US perspective

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.

Keywords:

• US
• Japan
• political economy
• Trans-Pacific Partnership

Acknowledgement

An earlier version of this paper appeared in Japanese in the June 2016 issue of Gaiko [Diplomacy], the monthly organ of the Japan Institute of International Affairs.

Disclosure statement

No potential conflict of interest was reported by the author.

Additional information

Notes on contributors

Glen S. Fukushima

Glen S. Fukushima is a Senior Fellow at the Center for American Progress, a think tank in Washington, DC. He served as Director for Japanese Affairs (1985–1988) and Deputy Assistant USTR for Japan and China (1988–1990) at the Office of the United States Trade Representative, Executive Office of the President. He later worked as a senior executive in several global companies, including as President and CEO of Airbus Japan. He also served as President of the American Chamber of Commerce in Japan. He has received degrees from Stanford and Harvard Universities and conducted research at Keio and Tokyo Universities. He may be contacted at [email protected]