Future of Trans-Pacific Partnership Agreement: Just a Dead Trade Initiative or a Meaningful Model for the North-South Economic and Trade Integration?

Abstract

The conclusion of the Trans-Pacific Partnership Agreement (TPP) among twelve trading nations in the Asian-Pacific region heralded the birth of the largest free trade agreement of all regional trade agreements (RTAs) in terms of the gross national product and trade size of the participating countries. However, the United States President, Donald Trump, radically changed this prospect by withdrawing the United States from TPP, shortly after taking office in January 2017. This is an ironic turn of history, because prior Obama administration had considered TPP to be its new trade platform in the Asian-Pacific region and pushed for its conclusion. This article discusses the possible future scenarios of TPP post the exit of the United States. TPP is also unique in its membership comprised of both developed- and developing-country members in nearly equal numbers. This article also examines whether TPP, regardless of its future life, presents a meaningful model for the North-South economic and trade integration.