The Trans-Pacific Partnership agreement, now in negotiation among 11 Asia-Pacific countries, could yield annual global income gains of $295 billion (including $78 billion for the United States) and offers a pathway to free trade in the Asia-Pacific with potential gains of $1.9 trillion, the Peterson Institute for International Economics said in a policy brief released Thursday.

This week President Barack Obama announced that Mexico and Canada would join the negotiations.

• The Trans-Pacific Partnership and Asia-Pacific Integration