Our new study on the economic impact of the Trans-Pacific Partnership agreement (TPP) released today, adds important findings on the impact of TPP for both its members and for, those not a party to the agreement.
This trade pact was recently signed by the US and 11 other Pacific Rim economies (Australia, Brunei, Chile, Canada, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam), representing some 37% of the world Gross Domestic Product (GDP), 10% of world population and 20% of world trade.
Overall, the TPP agreement has no measurable effect on Europe. In contrast, the Free Trade Area of the Asia-Pacific (FTAAP) agreement would yield larger effects on European countries.
The TPP poses a sizeable threat to the European and the German automotive industries, but the FATAAP represents a higher one. On the other hand, the chemicals industries in Germany would benefit from both Agreements.