09 Oct Here’s What Still Needs to Happen Before TPP Takes Effect
The Trans-Pacific Partnership (TPP) deal may be technically “done” but there’s a lot left to do before the 12-nation trade agreement actually takes effect.
On Monday, the United States and the 11 Pacific Rim nations that are part of TPP said they reached an agreement on the historic trade package that some say will be a boon for American manufacturers and others argue will instead send jobs abroad and hurt U.S. trade.
In short, here’s what will happen next: Negotiators will spend the next 2-4 weeks finalizing the text, then President Obama will send the finalized text to Congress and the U.S. International Trade Commission (USITC) and notify them of his intent to sign it 90 days before he actually signs it. That notification also starts the clock ticking for the release of the final text to the public, which must be made available for at least 60 days before the president can sign it.