For almost a decade, the US government led talks on an ambitious, cutting-edge Asia-regional trade agreement called the Trans-Pacific Partnership (TPP). After the talks were successfully concluded and the TPP was signed early in 2016, North American companies eagerly awaited the unique market opening benefits of the agreement, and the business-friendly region it would create strengthening trade, investment and supply chain links between North America and Asia.
Then the picture changed with the US election.
The TPP appeared to be dead. And businesses were hearing more reports about another Asian trade agreement still under negotiation, the Regional Comprehensive Economic Partnership (RCEP), to which the US, Canada and Mexico are not parties. The RCEP has been widely characterized as a China-led agreement that competes with the TPP and is against US interests. North American businesses are rightly concerned about the effect of these developments on trade and investment in the Asia region. The article below addresses those concerns by describing the future implications of the demise of the TPP and emergence of RCEP and ways North American businesses might adjust.
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Reproduced with permission from International Trade Daily, No. 11, 01/18/2017. Copyright  2017 by The Bureau of National Affairs, Inc. (800-372-1033) http://www.bna.com.
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