Key Topic – Trans-Pacific Partnership (TPP)

Trans-Pacific Partnership (TPP) – On Oct. 5, 2015, trade ministers from the 12 participating Trans-Pacific Partnership (TPP) countries – the United States, Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam – announced a successful conclusion to their negotiations. The Office of the U.S. Trade Representative (USTR) has posted a brief summary of the agreement on its website.

UPDATE: The full text of the TPP agreement is available online. USMEF has posted a summary of key beef and pork trade provisions here.

UPDATE: On Nov. 6, 2015, the USMEF membership unanimously approved a resolution supporting ratification and implementation of TPP. View the resolution online.

UPDATE: On Aug. 12, 2016, the White House submitted a draft Statement of Administrative Action to Congress indicating its plans to submit legislation implementing TPP. This action triggered a 30-day minimum notice period before this legislation can be submitted, but does not establish a firm timeline for Congress to consider approval of TPP. Congress will not take up TPP until after the Nov. 8 general election.

UPDATE: Following the presidential election, Congressional leaders announced that TPP ratification would not be taken up in the lame duck session. The Obama administration also announced that it would no longer pursue ratification of TPP prior to the end of President Obama’s term. USMEF is hopeful that TPP will still be considered by the U.S. Congress, but at this point it is difficult to say what the future holds for TPP. As for other TPP countries, Japan’s lower house of Parliament recently voted to move forward on TPP ratification, as did the New Zealand Parliament.