July 17, 2018
Business

Japan is gearing up to persuade Trump to rejoin the Pacific trade pact

Japan is willing to work with Donald Trump on after the President said the US could rejoin a Pacific trade partnership if the terms were "substantially better".

America pulled out of the Trans Pacific Partnership (TPP) of 12 countries including Japan at the beginning of Trump's time in office, causing the remaining countries to strike a new deal known as the CPTPP.

But Trump has indicated this month that he could reconsider joining the free trade agreement.

Now Japan is planning to propose a new framework to discuss trade, in the hope of persuading the US to join, according to the country's Nikkei newspaper.

Prime Minister Shinzo Abe is due to meet Trump in Florida next week, when he is expected to make the proposal.

Read more: "Stupid trade!" China and Trump trade barbs as threat of trade war looms

But Japan is understood to want to avoid renegotiating the terms for the pact or talks for a bilateral free trade agreement.

The other countries in the CPTPP are Australia, Brunei, Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.

The agreement between the remaining 11 members does not include 22 provisions which had been proposed by the US but opposed by other countries.

Read more: Justin Trudeau: UK can have "even better" deal with Canada than Ceta

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *