"[The Trans-Pacific Partnership] is a mixed bag," says Daniel Ikenson, director of the Cato Institute's Herbert A. Stiefel Center for Trade Policy Studies. Ikenson's latest analysis, Should Free Traders Support the Trans-Pacific Partnership? An Assessment of America's Largest Preferential Trade Agreement, offers an in-depth look at the most important trade agreement in decades.

He sat down with Reason's Todd Krainin to discuss the report.

"Our conclusion is that it's got some baked-in protectionism. There's a lot of liberalization. On par, it's net liberalizing. It will expand our economic freedoms. And my colleagues and I, my co-authors and I, support it."