The 11 remaining members of a Pacific trade pact abandoned by U.S. President Donald Trump have reached a deal on a revised agreement, with the nations to work toward signing the deal by early March, according to Singapore’s government.
Senior officials resolved outstanding issues, finalized the list of suspended provisions and completed the legal verification of the agreement, concluding negotiations on what has been renamed the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, Singapore’s trade ministry said Tuesday in a statement.
The deal was reached after two days of talks in Tokyo, and came just hours after Trump imposed tariffs on imported solar panels and washing machines -- his first major move to level what he says is a global playing field tilted against U.S. companies. The whole agreement looked like it might collapse after contentious negotiations in November, when Canada’s participation was thrown into doubt.
Japan’s Economy Minister Toshimitsu Motegi said Canada has agreed to work toward approving the deal, and he believed they would follow through on that.
“Today, Canada and the 10 other remaining members of the Trans-Pacific Partnership concluded discussions in Tokyo, Japan, on a new Comprehensive and Progressive Agreement for Trans-Pacific Partnership,” Joe Pickerill, director of communications for Canadian Trade Minister Francois-Philippe Champagne, said Tuesday in an email.
So hey, we got rid of that "bad" trade deal or whatever, but as the US economy starts to flounder here soon and goes belly-up in a scenario that will make 2008 look like a fun picnic, remember that we did this to ourselves, with people who stuck it to us. America picks up its ball and goes home, the rest of the world finds out just how much it doesn't need us -- or American companies, workers, or trade dollars -- anymore.