Ecommerce takes pride of place in US Trade Commission survey on TPP

The new ecommerce rules are seen by USITC as “vital to optimising the global operations of large and small US companies in all sectors.” “The ecommerce chapter serves as a template for future US and global trade agreements”, aei.org reports. The Commission also states that “TPP’s ecommerce provisions would also be particularly important to [small and medium-sized businesses] that rely on Internet-based services to sell and source products and services around the globe”.

The TPP requires member governments to allow full cross-border transfer of information, bans forced localisation of computing facilities and services, prohibits requirements to transfer technology as a condition of conducting business, and bans the imposition of customs duties or taxes on internet traffic. The regime created for ecommerce, international competition, and regulation will form an important baseline for future international law and custom.“ TPP’s ecommerce and other digital trade-related provisions are the most transformative measures in the agreement”, according to the International Trade Commission.

By 2032, annual income would be USD 57 billion higher than baseline projections, and real GDP would be USD 43 billion higher than baseline projections. These would represent 0.23% and 0.15% of total US income and GPD, respectively. US income gains are also expected to be USD 131 billion by 2030, according to another study published by Peterson Institute.