The Trans-Pacific Partnership Deal (TPP): What are the economic consequences for in- and outsiders? GED Focus Paper

After more than five years of intensive negotiations, the US and eleven other Pacific Rim countries – Australia, Brunei, Chile, Canada, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam – concluded the Trans-Pacific Partnership (TPP) deal on 5 October in Atlanta establishing the world’s largest free trade zone of 800 million people with a combined GDP of US $28 trillion (about 37% of world GDP measured in current US dollars). Apart from addressing traditional trade issues such as the abolition of duties and quotas, it is intended to break new ground on issues such as labor laws and technology