Nov 13, 2017
TPP countries agree to move ahead with trade pact without U.S.
Nov 13, 2017
Countries in the Trans Pacific Partnership (TPP) have reached an agreement to push ahead with the trade pact without the United States, by suspending some provisions from the original deal, Vietnamese and Japanese officials said on Saturday.
Ministers from the eleven TPP countries met this week on the sidelines of the Asia Pacific Economic Cooperation (APEC) summit in the resort city of Danang in Vietnam.
The agreement follows days of uncertainty over whether the countries would be able to agree on the terms of the deal, after U.S. President Donald Trump ditched it this year in favor of an “America First” policy.
For his part, Canadian Prime Minister Justin Trudeau on Saturday said more work needed to be done on the Trans Pacific Partnership (TPP) trade pact that 11 countries agreed to pursue without the United States.
Earlier in the day, the TPP countries agreed on the core elements to move ahead with the trade pact, after last-minute resistance from Canada raised new doubts about its survival.
Speaking to reporters on TPP, Trudeau said “still more important work to be done to ensure we reach the best deal for Canada and Canadian people.”
He also said talks on North American Free Trade Agreement (NAFTA) with the United States were not affecting its stance on TPP negotiations.
© Thomson Reuters 2022 All rights reserved.