TRANS PACIFIC PARTNERSHIP AGREEMENT (TPPA)

by Li Min, Zi Qiong, and Lee Cheng

The Trans-Pacific Partnership Agreement (TPPA, sometimes referred to as TPP only) is a free trade agreement negotiated by 11 countries in the Asia Pacific region, Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.

               This agreement commenced in 2005 as a Trans-Pacific Strategic Partnership Agreement (TPSEP or P4). Member States have set a goal to conclude negotiations in 2012 but controversial issues such as agriculture, intellectual property, services and investment have led to ongoing negotiations until it is finalized in 2015. Some series of negotiations have been made including Ottawa (2014), Hanoi (2014), Hawaii (2015) and Atlanta (2015). Approval of the TPP is one of the major goals in the administration agenda of US President Barack Obama's administration.

               TPP aims to increase trade and investment among member countries, promote innovation, growth and economic development, and support employment generation and retention. In spite of this, the talk was criticized by medical professionals, internet freedom activists, environmental activists, labor groups and politicians as it was secretly carried out, the broad scope of agreements, and controversial clauses in leaked drafts.

               The TPPA covers a wide range of issues that are touched thoroughly and this situation creates a lot of controversy and becomes a topic of general discussion. Among the hot topics discussed are medical costs, patents, intellectual property, dispute settlement between investor and state, privacy, environment, workers' rights, and agriculture.

               On January 23, 2017, the United States officially came out of the Trans-Pacific Partnership Agreement under the new presidential administration of Donald Trump. Trump said his actions were same with the central campaign pledge he did before. He said these unreasonable agreements must be immediately stopped to reinstate US jobs and companies.