US – USITC releases report on Trans-Pacific Partnership Agreement

On May 18, 2016, the U.S. International Trade Commission (USITC) released its report assessing the likely impact of the Trans-Pacific Partnership (TPP) Agreement that the President has entered into with Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam.

The USITC’s report, 
Trans-Pacific Partnership Agreement: Likely Impact on the U.S. Economy and on Specific Industry Sectors
(Inv. No. TA-105-001, USITC Pub. 4607), provides an assessment of the likely impact of the Agreement on the U.S. economy as a whole and on specific industry sectors and the interests of U.S. consumers, as requested by the U.S. Trade Representative and required by the Bipartisan Congressional Trade Priorities and Accountability Act of 2015.

In making its assessment, the USITC investigated the impact the agreement will have on the U.S. gross domestic product; exports and imports; aggregate employment and employment opportunities; and the production, employment, and competitive position of industries likely to be significantly affected by the agreement. In preparing its assessment, the USITC also reviewed available economic assessments regarding the Agreement, including literature concerning any substantially equivalent proposed agreement. The USITC provides a description of the analytical methods used and conclusions drawn in such literature, and a discussion of areas of consensus and divergence between the USITC’s analyses and conclusions of other economic assessments reviewed.