The governments of Australia, Bruneis, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, Vietnam and the United States are negotiating a multilateral free trade agreement known as the Trans-Pacific Partnership (TPP). Canada, Mexico and Japan participated in the negotiations later than the other countries. Canada and Mexico`s first entry into the negotiating room took place during the December 2012 New Zealand Round of negotiations, more than a year after their formal requests to participate in the negotiations. Japan`s accession took place on the last day of the Round of negotiations, in July 2013, in Kota Kinabalu, Malaysia. Increasing access to government procurement in the TPP countries, which account for an estimated 10 to 15 percent of the economies of many countries, will provide significant opportunities for U.S. businesses and workers. At the same time, we intend for TPP to be in agreement with previous U.S. conservation agreements. Rights to maintain guidelines such as buy American Requirements and Small Business and other set-asides, as well as public and local purchasing rights.
After the 19th round of formal meetings, negotiations have no longer taken the form of formal rounds, but other meetings, such as chief negotiator meetings and ministerial meetings, are continuing. After taking office in 2009, Obama continued the talks. In 2011, Secretary of State Hillary Clinton formulated the TPP as a centerpiece of the U.S. strategic direction toward the Asia-Pacific region. After nineteen formal rounds of negotiations and many other separate meetings, the participating countries agreed in October 2015 and signed the pact in early 2016.