Trans-Pacific Partnership Agreement, also known as Transatlantic Trade and Investment Partnership or TTIP, is an important international multilateral economic negotiation organization, formerly known as Trans Pacific Strategic Economic Partnership Agreement. It was launched by New Zealand, Singapore, Chile and Brunei, the 4 member countries of Asia Pacific Economic Cooperation. Since 2002, a set of multilateral free trade agreements, formerly known as Free Trade Area of the Asia Pacific, has been brewed to promote the trade liberalization in the Asia Pacific region.
 
TPP member countries will enjoy the price declines of their products and services and quickening their logistics. The member countries can learn from each other. Their consumers will be one of the most direct beneficiaries. But trade openness has always been a double-edged sword, bringing benefits to some fields and "injures" to the others. The interests of the member countries or some industries may therefore be subject to certain impacts of the other countries. This issue is particularly prominent in tariffs.

The TPP negotiations were started in the March of 2010. The negotiations constituted by two major categories: The first one is intellectual property protection rules and the other fields determined by 12 participating countries. The second is on import tariff reductions of certain types of goods and some other the bilateral consultations.

On October 5, 2015, TPP finally achieved substantial breakthroughs. The United States, Japan and other 10 Pan Pacific countries reached TPP agreement. The 12 participating countries accounted for 40% of the global economy. TPP will reduce tariffs or get tariffs free to nearly 18,000 categories of goods.
 
On February 4, 2016, 12 countries of the United States, Japan, Australia, Brunei, Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam formally signed TPP agreement in Auckland.