The controversial and long-gestating Trans-Pacific Partnership
(TPP) is now moving ahead, with 11 countries—Australia,
Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru,
Singapore and Vietnam—agreeing on 23 January 2018 as to the
final terms of the agreement that is to be officially signed by
these countries in March in Chile.
What is it?
The TPP is a free-trade agreement designed to make exportation
and investment both cheaper and simpler. It aims to do this by
cutting tariffs and creating common laws and regulations between
member countries.
Notably, the agreement was originally set to include the United
States, in which case it would have comprised about 40% of the
world market. However, Donald Trump campaigned strongly on the idea
of a nationalist, closed "America First" policy, saying
that he would withdraw the country if elected—which he did by
executive order on his third day in office. While initially there
was much confusion as to
