The Trans-Pacific Partnership: Setting New Rules for Trade in the 21st Century

The Trans-Pacific Partnership (TPP) is one of the most critical, and potentially most transformative, trade negotiations in decades. The 12 countries participating in these talks collectively account for about 36 percent of global GDP and 20 percent of world trade. For the United States, trade in goods and services with TPP partner countries accounts for more than a third of the total U.S. annual trade volume.  The wide-ranging proposals advanced in the TPP discussions, if enacted, will reshape the economic landscape in the United States, the Asia-Pacific region, and the world.

The most difficult negotiations may be here in the US, with our internal politics. While President Obama has voiced strong support for this landmark trade deal—the centerpiece of his “pivot to Asia”—he faces a difficult battle convincing his own party to move ahead with it. Debate about the authorization of “fast-track” Trade Promotion Authority legislation (TPA), which is considered a necessary step in passing the complex TPP treaty, is already heating up on both sides. The beginning of the 2016 presidential campaign could easily make the politics of trade even more hotly contested.

Bloomberg BNA and Bloomberg Government are convening top government officials from the United States and other TPP countries, as well as senior business leaders and policy-influencers, for an in-depth discussion about these high-stakes trade talks and their prospects for success. What should the global business and investor communities anticipate, and prepare for, in the year ahead?