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SITUATION REPORT

Apr 20, 2017 | 10:40 GMT

Japan: TPP Talks To Be Held In May, Deputy Prime Minister Says

The participants in the Trans-Pacific Partnership trade pact, minus the United States, will begin talks on implementing the deal in May, Japanese Deputy Prime Minister Taro Aso said April 19 during a speech in New York, the Nikkei Asian Review reported. The renewed negotiations will take place in conjunction with the meeting of trade ministers with the Asia-Pacific Economic Cooperation in Hanoi. Tokyo is hoping to ratify a joint declaration during the meeting directing working-level staff to find ways to implement the pact without the United States, in light of the Trump administration's abandonment of the deal, Aso said. Australian Trade Minister Steven Ciobo said April 19 that his country — another TPP signatory — strongly supports moving on without the United States and forging an 11-member agreement. Smaller TPP participants such as Vietnam are expected to demand changes to the pact to undo concessions demanded primarily by Washington during the original talks. A closer look at just how global trade has been realigning suggests that it's likely to keep growing with or without the United States.
 
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