The World Bank has found that the TPP agreement, if ratified by the signatories, could increase the average GDP of Member States by 1.1% by 2030. It could also increase member states` trade by 11% by 2030 and stimulate regional trade growth, which had slowed from about 10% in 1990 to about 5% on average in 1990. [153] The World Bank notes that the agreement will increase real wages in all signatory countries: «In the United States, for example, changes in real wages are expected to be low, with wages rising by 0.4 and 0.6% respectively by 2030. In contrast, in Vietnam, the TPP could increase the real wages of unskilled workers by more than 14% by 2030, as production-intensive production of unskilled labour (e.g. B textiles) relocates to Vietnam. [153] The impetus for a North American free trade area began with U.S. President Ronald Reagan, who made the idea part of his campaign when he announced his candidacy for president in November 1979. [15] Canada and the United States signed the Canada-U.S. Free Trade Agreement in 1988, and shortly thereafter, Mexican President Carlos Salinas de Gortari decided to address U.S. President George H.W. Bush to propose a similar agreement to make foreign investment after the Latin American debt crisis. [15] When the two leaders began negotiations, the Canadian government of Prime Minister Brian Mulroney feared that the benefits that Canada had gained through the Canada-U.S. free trade agreement would be undermined by a bilateral agreement between the United States and Mexico, and asked to be associated with the U.S.-Mexico talks. [16] An interactive list of bilateral and multilateral free trade instruments is available on the TREND Analytics website.

[59] The TPP increases the likelihood that Japan will make economic reforms to revive its economy, which could have economic implications for China in connection with South Korea`s possible accession to the TPP. By making the Chinese economy less competitive and making Chinese leaders less likely with respect to trade rules in East and Southeast Asia, the Chinese government will be under intense internal and external pressure to liberalize their economy. [24] Japanese Prime Minister Shinzo Abe believes that China`s future accession to the TPP would have a significant calming effect on the Asia-Pacific region. [25] U.S. Trade Representative Michael Froman said a failure to ratify the TPP would allow China to boost exports and set environmental and labour standards in the fast-growing Asia-Pacific region through the Comprehensive Regional Economic Partnership (RCEP). [180] First, tariffs and other rules applicable to trade with non-parties to this free trade area in each of the signatory parties to a free trade area applicable at the time of the creation of this free trade area must not be higher or more restrictive than tariffs and other rules applicable in the same contracting parties prior to the creation of the free trade area.