TPP: U.S.-Japan Issues (CRS Report for Congress)
| Release Date |
Aug. 23, 2016 |
| Report Number |
IF10456 |
| Report Type |
In Focus |
| Authors |
Brock R. Williams; Mark E. Manyin; Bill Canis; Mark A. McMinimy; Taishu Yamakawa |
| Source Agency |
Congressional Research Service |
Summary:
The United States and Japan are among the 12 parties to the
proposed Trans-Pacific Partnership (TPP) free trade
agreement (FTA). The agreement would reduce and
eliminate tariffs and non-tariff barriers (NTBs) on goods,
services, and agricultural products. It would also establish
trade rules and disciplines that expand on commitments at
the World Trade Organization (WTO) and address new
“21st century” issues, such as digital trade and state-owned
enterprises. Signed in February 2016, the TPP now awaits
ratification in each country before it can enter into force.
For the United States and Japan, ratification entails action
by the U.S. Congress and the Japanese Diet (parliament).
The Diet is expected to consider the TPP in the fall of 2016.
Japanese Prime Minister Shinzo Abe has promoted the
TPP, and his ruling coalition has a large majority in the
Diet. Observers widely expect that the Diet will pass TPP.
The timeline for possible U.S. congressional consideration
of TPP remains uncertain, but many observers agree that it
is unlikely before the November elections.
