What does the future of trade look like? Business & Marketing Essay

Running head: FUTURE OF TRADE1
The Future of Trade
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FUTURE OF TRADE

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The Future of Trade
The Trans-Pacific Partnership (TPP), negotiated by former president Barack Obama yet never approved by Congress, is a major trading agreement involving 12 countries including U.S. (Lee, 2020). Intended, according to experts, to counter China's emerging power and a parallel agreement led by China, Regional Comprehensive Economic Partnership or RCEP including 15 countries in Asia Pacific, TPP is offer U.S. a leverage to maintain current global leadership. Canceled by outgoing U.S. President in 2017, President-elect Joseph Biden faces hard choices to rejoin TTP for several reasons.
First, U.S. Democratic Party is, according to many commentators ( Lee), already pro-protectionism. Therefore, any attempt to rejoin TPP would not only be faced by strong opposition from GOP yet also from Biden's inside ranks. The new President-elect needs, according, to “resell” TPP to d...