28 - Horizontal Regulatory Coherence Aspects of the TPP

Summary

In today’s broader context of resistance to the expansion of international trade, particularly in the United States (with its rejection of the Trans-Pacific Partnership (TPP)) and the United Kingdom (with its rejection of the European Union), the regulatory coherence chapter of the TPP is highly relevant. Its cross-cutting sectoral approach and use of industry-specific annexes to reduce technical or regulatory barriers to trade is likely to serve as the model for all future multilateral trade treaties. Moreover, even though the TPP was rejected by the Trump administration, it later rose as the CPTPP. The United States may still participate in some form. Recently, the United Kingdom expressed an interest in becoming a party. Ambitious trade deals like the TPP sometimes take decades to finalize. In any case, both the substantive provisions and the architectural structure of a highly negotiated free trade agreement (FTA) like the TPP are quite enduring, so the TPP’s regulatory coherence mechanics are likely to re-surface in future FTAs. In other words, the current form of the TPP will serve as a model for any future TPP or similar mega-regional FTA.