The Economic Effects of the Trans-Pacific Partnership: New Estimates

January 1, 2016

This Working Paper estimates the effects of the Trans-Pacific Partnership (TPP) using a comprehensive, quantitative trade model, updating results reported in Petri, Plummer, and Zhai (2012) with recent data and information from the agreement. The new estimates suggest that the TPP will increase annual real incomes in the United States by $131 billion, or 0.5 percent of GDP, and annual exports by $357 billion, or 9.1 percent of exports, over baseline projections by 2030, when the agreement is nearly fully implemented. Annual income gains by 2030 will be $492 billion for the world.

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Topics: TARIFF LIBERALIZATION ECONOMIC GROWTH MEGA-REGIONAL AGREEMENT

Regions: UNITED STATES ASIA-PACIFIC

Authors: PETER A. PETRI MICHAEL G. PLUMMER

Publishing Institution: PETERSON INSTITUTE FOR INTERNATIONAL ECONOMICS

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