WASHINGTON – The withdrawal of the United States from the Trans-Pacific Partnership (TPP) dramatically disrupted the longstanding trade agenda of the Asia-Pacific. The region’s governments have pursued trade and investment liberalization strategies for at least a quarter century, and many recently participated in both the TPP and Regional Comprehensive Economic Partnership (RCEP) negotiations.
Given the withdrawal of the United States, should the remaining members still move forward with the TPP? Should they seek instead bilateral agreements that the United States still seems interested in concluding? Or should the region simply focus on RCEP?This Working Paper explores the choices facing Asia-Pacific governments from economic and political economy perspectives. The economic analysis presented here confirms that US withdrawal has been costly not only for the United States but also for its Asia-Pacific partners…
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