Economic Impacts of the Trans-Pacific Partnership on Washington State
The Trans-Pacific Partnership (TPP) was signed in February 2016 by twelve Asia-Pacific nations spanning North America, South America, East Asia, Southeast Asia, Australia, and Oceania. If the trade pact is successfully ratified by signatory members, it will constitute the largest free trade zone in the world. The trade deal will introduce significant reductions in tariff and non-tariff barriers across a region representing more than one-third of global GDP.
The Washington Council on International Trade (WCIT) requested an analysis of the potential economic impacts of the full implementation of the TPP on Washington state. This report provides an assessment of these potential impacts, both in total and by select industries. Importantly, many of the benefits introduced through TPP legislation are likely to be impactful but not quantifiable. This report discusses many of these rule changes that may directly benefit Washington state businesses.
Copyright © 2016 Washington Council on International Trade
Please find the original publication here.