cogitASIA • June 17, 2015

By Shinichi Isobe

Although congressional authorization of Trade Promotion Authority (TPA) is in limbo now, the House decided to take up the Trade Adjustment Assistance (TAA) bill again by the end of Julyand kept the window of opportunity open. The TPA bill passed the House on June 12 but the TAA bill failed. Both are bundled as one package of a bill, and thus TAA needs to pass the House for the president to sign it. Once they are signed into law, the United States and Japan may conclude bilateral trade talks and that will lead to the conclusion of the Trans-Pacific Partnership (TPP) negotiations. Joint participation in TPP presents a significant opportunity for both countries to assume a leadership role in shaping the rules and norms for trade in the Asia Pacific, but TPP is one step in a long process of regional economic integration that will unfold in the years to come. Continue reading TPP: An Important First Step in the Process of Asia-Pacific Economic Integration →