The Trans-Pacific Partnership (TPP) is a regional trade treaty under negotiation between twelve diverse low, middle and high income countries of the Pacific Rim: Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States of America, and Vietnam.
Formal negotiations have been underway since 2008, since which time new negotiating countries have come on board. Once signed, the TPP will be a legally binding agreement that regulates trade â and by extension practices â between these nations indefinitely. Although amendment and new members will be possible the TPP is intended to be a âlandmark, 21st-century trade agreementâ, establishing new norms for global trade.
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