The Trans-Pacific Partnership

Forthcoming, British Journal of American Legal Studies Volume 5 (2016)

29 Pages Posted: 5 Oct 2016

See all articles by Tania Voon

Tania Voon

University of Melbourne - Law School

Elizabeth Sheargold

University of Wollongong

Date Written: July 20, 2016

Abstract

This article provides an overview of the recently concluded Trans-Pacific Partnership Agreement (TPP), a treaty the parties have described as comprehensive and ambitious, yet also representing a balance of competing interests. The article focuses on the TPP’s chapters relating to investment, services, intellectual property and regulatory coherence, each of which provides insight into the motivations that drove the conclusion of the TPP and the negotiating dynamics that determined its final content. In areas such as investment, the TPP takes a more balanced approach than many earlier agreements, providing greater safeguards for the regulatory autonomy of states while still embodying core protections for foreign investors. In relation to intellectual property and services, the TPP goes beyond earlier agreements in several key respects, such as preventing the imposition of local presence requirements for service providers or requiring longer copyright terms than those demanded by other international treaties. The TPP chapter on regulatory coherence is one of the most novel features of the treaty, as regulatory coherence is not frequently included in earlier trade agreements, demonstrating the increased focus of states on addressing regulatory barriers to trade and investment. While all of these elements of the TPP are interesting in their own right, given the number and size of the parties involved in the agreement, they also provide valuable guidance about the direction of other ongoing and future preferential trade agreement negotiations, such as the proposed Transatlantic Trade and Investment Partnership (TTIP) and Trade in Services Agreement (TiSA).

Keywords: TPP, trade, investment, international law, dispute settlement, services, WTO

JEL Classification: K33

Suggested Citation

Voon, Tania and Sheargold, Elizabeth, The Trans-Pacific Partnership (July 20, 2016). Forthcoming, British Journal of American Legal Studies Volume 5 (2016). Available at SSRN: https://ssrn.com/abstract=2847945

Tania Voon (Contact Author)

University of Melbourne - Law School ( email )

University Square
185 Pelham Street, Carlton
Victoria, Victoria 3010
Australia

Elizabeth Sheargold

University of Wollongong ( email )

Northfields Avenue
Wollongong, New South Wales 2522
Australia

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