‘Indo-Pacific Economic Framework’ and TPP’s ghost

The ghost of the Trans-Pacific Partnership haunts Washington, and it looks like the Biden administration is preparing to play ghostbuster.

The TPP was Washington’s child, a 12-nation trade agreement negotiated to Washington’s standards by the Bush and Obama administrations. As the negotiations progressed, Washington came to see it as a way for the United States to set the trade rules in Asia before China set them.

Then, as the talks were nearing the finish line, the US killed the TPP. Donald Trump wielded the sword, withdrawing the US on his first day as president. But even if he hadn’t, it’s doubtful the deal would have won Congressional approval.

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