Trans-Pacific Partnership Free Trade Agreement Definition

The preferential access granted by the TPP will increase trade between TPP countries in this market of 800 million people and support quality jobs in the 12 contracting parties. Most tariffs on industrial products are implemented immediately, although tariffs on some products are eliminated over long periods of time, as agreed by the TPP parties. Specific tariff reductions agreed by the TPP parties are included in the schedules of all products. The Parties to the TPP will publish all tariffs and other information relating to trade in goods to ensure that small and medium-sized enterprises and large enterprises can benefit from the benefits of the TPP. They also agree not to use performance requirements which are conditions such as local production requirements imposed by certain companies to allow them to obtain tariff advantages. . . .