US Trade Policy Options in the Pacific Basin: Bigger Is Better

February 15, 2017

As promised throughout the campaign, one of the first acts carried out by President Donald Trump was to order the US Trade Representative to withdraw formally from the Trans-Pacific Partnership (TPP)—a megaregional trade agreement between the United States and 11 other countries. The administration instead plans to pursue new bilateral trade pacts in the Asia-Pacific region. Schott explains why a regional deal like the TPP is far more likely to yield larger US gains with fewer US concessions than the administration’s favored bilateral approach.

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Topics: MEGA-REGIONAL AGREEMENT TRADE POLICY

Agreements: REGIONAL COMPREHENSIVE ECONOMIC PARTNERSHIP (RCEP) TRANS-PACIFIC PARTNERSHIP (TPP)

Regions: UNITED STATES ASIA-PACIFIC

Authors: JEFFREY J. SCHOTT

Publishing Institution: PETERSON INSTITUTE FOR INTERNATIONAL ECONOMICS

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