Trans-Pacific Partnership (TPP)

The Trans-Pacific Partnership (TPP) was a large trade agreement involving countries around the Pacific Ocean, aiming to boost trade and economic growth. It sought to reduce tariffs, enhance trade relations, and establish common standards for various sectors, like labor and environmental practices. Originally signed in 2016 by 12 countries, it faced criticism and controversy, particularly in the U.S., leading to its withdrawal by the Trump administration. A revised version, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), continues with some of the original TPP countries, promoting free trade in the region without the U.S.