During President Obama’s recent trip to Asia, he announced the outlines for a Trans-Pacific Partnership (TPP) agreement with nine Asian nations. AEI has assembled a group of trade policy experts to explore the immediate and long-term future of the TPP negotiations and assess their regional negotiations in the context of broader U.S. trade policy goals.
The relationship between the U.S. and the People’s Republic of China is multifaceted and goes well beyond economic relations, but questions of macroeconomic imbalances have remained at the heart of bilateral discussions between the two.
For the United States, the critical role that the TPP could play in Japanese politics and economic reform raises the stakes.
The president’s trip to meet with leaders and revive the Trans-Pacific Partnership (TPP) closely resembles a trip he took two years ago. We’ve been down this road before. Past experience cautions against reading too much into Obama’s embrace of the TPP.
As President Obama prepares to meet other G-20 leaders in Cannes later this week, he previewed his pitch with an op-ed in the Financial Times. It read a bit like a half-time locker room pep talk to a team that had gotten knocked around on the field.
There has been much gnashing of teeth and rolling of eyes over eurozone leaders’ repeated inability to solve their financial crisis once and for all. The rest of the world can best help, the reasoning goes, by shouting exhortations at Europe to just try harder. But what, exactly, are Europeans being urged to do?
Nobel winners Sargent and Sims taught us to set aside our old, nice, simple economic models. We need to heed that lesson today.
The president has submitted three free trade agreements to Congress. But four years of tortuous domestic debate over the FTAs has led the world to doubt U.S. commitment to opening markets.
The advancement of human civilization hinges on trade. As we swap our goods and our ideas with one another, we are propelled into ever-increasing prosperity.