The re-launch of the TPP-11 is moving forward after the president of the United States, Donald Trump, confirmed that the U.S. would exit the agreement. The Trans-Pacific Partnership has the goal of creating a platform which will strengthen economic integration in the Asia-Pacific region. This resulted in the design of an inclusive and high quality agreement whose bases were economic growth, development and job creation in the eleven countries that make up the association: Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam.
Following the United States’ exit, the group of negotiators has had multiple meetings over the past couple months in order to agree on which parts of the treaty to postpone and which to leave intact. Nevertheless, one of the meetings that were planned by the leaders of the eleven countries had to be proposed after Canada refused the terms of the agreement accepted by other nations.
The TPP looks to eliminate duties on industrial and agricultural products in the 11 nation block. Trade between these countries amounted to $356 billion USD last year.
Canada, the agreement’s second largest economy after Japan, said that it wanted.... Continue reading article here