No US version TPP announced that the approval process has been completed and will take effect at the end of the year.

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 No US version TPP announced that the approval process has been completed and will take effect at the end of the year.


Donald Trump announced his withdrawal from the Trans-Pacific Partnership Agreement (TPP) after taking office as President of the United States in January last year. The remaining 11 signatories renegotiated and revised the terms and signed the CPTPP on March 8 this year.

Activation agreement

Simon Birmingham, Australias Minister of Trade, Tourism and Development, said in a statement that Australias ratification of the agreement was aimed at protecting the interests of our farmers and businesses to the maximum.

Australian Prime Minister Scott Morrison said Australias gross domestic product (GDP) is expected to reach A$15.6 billion a year ($11.1 billion) by 2030 after the agreement takes effect.

CPTPP member countries are Japan, Australia, Brunei, Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam, covering nearly 500 million people, with a total GDP of $13.5 trillion, accounting for about 13% of the world economy.

The Japanese government estimates that the entry into force of the CPTPP will add 8 trillion yen ($71 billion) to Japans GDP, but the trade in agricultural and aquatic products could lose 150 billion yen ($1.3 billion) in annual revenue.

Promoting multilateral

During his presidential campaign, Republican Trump criticized the TPP negotiated by former Democratic President Barack Obama as harming the interests of American workers and farmers and withdrew in the first week of office, demanding a renegotiation of bilateral trade agreements with trading partners.

Japan, Canada and other countries have repeatedly persuaded the United States to return ineffective, and eventually talked about no U. S. version of the TPP, that is, CPTPP.

Agence France-Presse reported that Japan and other countries in the United States after the withdrawal of efforts to promote CPTPP, secretly hope that the United States government one day change their minds or change the ruling power, re-joined the trade agreement.

Japans Kyodo news agency reported that Japanese officials hope that the entry into force of CPTPP will increase the momentum for Japan to promote multilateral free trade before the start of bilateral trade negotiations between Japan and the United States in mid-January next year.

When Japanese Prime Minister Abe Shinzo and Trump met in September, they agreed to start bilateral trade negotiations next January. Kyodo news agency reported that the United States threatened to impose tariffs on Japanese automobiles, so that Japan had to concede, that is, to abandon the original insistence on multilateral mechanisms to resolve trade disputes position.

Trump, after taking office, pursued the U.S. priority, withdrew from or challenged a number of multilateral political and economic mechanisms, pressured Canada, Mexico, the European Union, Japan and other trading partners to conduct bilateral trade negotiations with the United States to sell more benefits to the United States.

Association negotiation

The Japanese and American media have noted that the time for the CPTPP to complete the necessary procedures for its entry into force is close to November 6, the date for the mid-term elections in the United States Congress. This will be a test of American voterssupport for a series of government policies based on the principle of American priority.

Kyodo news agency reported that Japan is closely watching the U.S. mid-term elections because the results of this election may directly affect the process of trade negotiations between Japan and the United States and even trade relations between Japan and the United States.

Kyodo quoted analysts as saying that if the Republican Party continues to control both houses of Congress, it means that Trumps U.S. priority policy continues to flow unimpeded, forcing Japan to sacrifice more of its own interests in trade negotiations.

If the Democratic Party replaces any house in parliament, it will have the opportunity to check and balance government decisions. Tobias Harris, vice president of Tenio Intelligence, a Washington-based business strategy consultancy, said that assuming the Democratic Party regains control of a majority in the House of Representatives, as indicated by pre-election polls, it could increase the momentum for negotiations between Japan and the United States, and Japan has the incentive to delay the process until the current government steps down. However, some U.S. and Japanese relations experts believe that even if Japan can avoid concessions in the automotive sector by towing, the U.S. may insist that Japan further open its agricultural market, regardless of the outcome of the mid-term elections. U.S. Agriculture Secretary Sonny Purdue recently called on Japan to cut U.S. agricultural tariffs to a lower level than the original TPP terms. Benjamin Selff, vice president of the Maureen and Mike Mansfield Foundation in the United States, said Japan was concerned that the United States would want more and give less in bilateral trade negotiations; however, at least Japan believed it should be able to maintain the bottom line of the TPP negotiations. Source: Xinhua editor: Li Cong _B11284

If the Democratic Party replaces any house in parliament, it will have the opportunity to check and balance government decisions. Tobias Harris, vice president of Tenio Intelligence, a Washington-based business strategy consultancy, said that assuming the Democratic Party regains control of a majority in the House of Representatives, as indicated by pre-election polls, it could increase the momentum for negotiations between Japan and the United States, and Japan has the incentive to delay the process until the current government steps down.

Benjamin Selff, vice president of the Maureen and Mike Mansfield Foundation in the United States, said Japan was concerned that the United States would want more and give less in bilateral trade negotiations; however, at least Japan believed it should be able to maintain the bottom line of the TPP negotiations.