The Trans-Pacific Partnership (TPP) trade agreement is in deep trouble. It has taken nine years to finalize this extremely important multilateral deal among the United States and 11 other countries. These countries — Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam — include developed nations with deep and rich trading ties to the United States, as well as emerging economies relatively new to global markets.
What they all shared was a commitment to try their best to overcome domestic political obstacles to expand the benefits of free trade. The TPP had bipartisan support in Congress. Unfortunately, President Obama did not push for adequate protection of intellectual property in biologic medicines, likely dooming the deal to failure in Congress.
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