Starting in 2010, the U.S.-led negotiations for the Trans-Pacific Partnership (TPP), a multilateral trade liberalization regime, have been continuing for five years. If U.S. President Barack Obama is to leave a political legacy as “America’s first Pacific president” with-in his term of office, the TPP is his only option. Although the Obama administration urgently hopes to reach a pact in the first half of this year so that it can be put to a vote in Congress before the 2016 elections, the process has dragged on and repeatedly missed deadlines.
The TPP negotiations involve 12 countries in the Asia-Pacific region. Besides the United States, they include Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Viet Nam.
As of the latest talks between chief negotiators of participating…
