The announcement in October 2015 of the successful conclusion by Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States and Vietnam of the negotiation of the Trans-Pacific Partnership (TPP) agreement, the largest regional free-trade agreement ever completed, and its signature on February 4, 2016 are a major accomplishment.
Actual entry into force of the agreement is not expected before 2017—and more likely will occur later than that and in piecemeal fashion. Given the complexities of the TPP—including the large number of parties involved, the pre-existing Free Trade Agreements (FTAs) between and among the participating countries (the United States has FTAs with Australia, Canada, Chile, Mexico, Peru and Singapore) and the issues being addressed for the first time in an FTA—the parties reportedly anticipate that the entry into force process may take two years or more to complete. There may be many twists and turns as each of the TPP nations acts to obtain approval of the deal at home and to implement the commitments their negotiators have undertaken.
Sidley’s International Trade lawyers have advised companies with respect to the negotiations of the TPP agreement, and advocated for their interests. They are currently advising companies in their implementation of obligations under the TPP agreement.
In order to assess how their interests will be impacted, stakeholders should monitor the developments closely. We have created this page as a resource to our clients. Please contact the lawyers below if you have questions about the effects of the agreement.
- SPS Measures and the TPP – Removing Barriers to Agricultural Exports (February 2016)
- The Trans-Pacific Partnership Agreement – How Parties Will Resolve Disputes (January 2016)
- Trans-Pacific Partnership Agreement Faces a Long Road to Approval and Entry Into Force (October 2015)
- Investor’s Business Daily, “A better way to look at trade deals” (June 2016)
- Law360, “TPP Sanitary Measures Open Up Agricultural Exports” (February 2016)
- Law360, “TPP Dispute Resolution: Settlement Mechanism Vs. WTO” (February 2016)
- Data Matters Blog: Trans-Pacific Partnership Agreement Touches Global Electronic Commerce (November 2015)
- MarketPlace, “A Glimpse at the Nitty-Gritty of the Giant Trade Deal” – Radio interview with Andrew W. Shoyer (November 2015)