Top trade officials from 11 original members of the Trans-Pacific Partnership (all but the United States) have agreed on a plan to bring the pact into force without the US.
The move came one day after President Donald Trump sharply criticized large multilateral trade deals during his keynote speech at the annual APEC leaders summit in Vietnam.
"Ministers are pleased to announce that they have agreed on the core elements of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership," a CPTPP statement said.
The 11 countries agreeing to the new CPTPP pact are Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.
Can't wait to hear the reaction from the protectionist Trump.
A free market president would simply welcome all trade from everywhere, even these eleven countries. But Trump will want to "negotiate" trade on an individual basis with all 11 of these countries, with no doubt more tariffs and other trade barriers coming.
-RW
--- But Trump will want to "negotiate" trade on an individual basis with all 11 of these countries, with no doubt more tariffs and other trade barriers coming. ---
ReplyDeleteBecause what Makes America Grating Again is subsidizing the heavily-unuonized Buggy Whip industries, screw the consumer. They're all ingrates for not buying 'Murican, anyway.