politics

11 Asia-Pacific nations sign TPP trade deal without U.S.

43 Comments
By Dave Sherwood and Felipe Iturrieta

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43 Comments
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Great! And I hope that if and when the US comes back and tries to barge in to the agreement the nations that already signed it, give them hell too!

1 ( +16 / -15 )

Totally waste of time and money. Japan should maximized efforts to get good relationship with China and unites with China as soon as possible. Japan is at risk to be marginalized.

-22 ( +9 / -31 )

Haha, take Japan out of the mix and the total GDP of the other countries combined is less than California...

10 ( +23 / -13 )

Thats a new meaning of handshake. Fair well.

-9 ( +1 / -10 )

If Japan, who butchered and tailored the terms to protect their farmers, pulled out these countries would combine for about 0.000001% of the global economy. Probably less than most US states.

0 ( +13 / -13 )

Farming is serious just not in the cities.

5 ( +8 / -3 )

US will join it after Trump. Just 3 more years to wait, which is nothing.

-2 ( +9 / -11 )

If Japan, who butchered and tailored the terms to protect their farmers,

exactly

-7 ( +7 / -14 )

Absolutely incredible news! Really well done to the remaining 11 nations who pushed ahead with this deal even without the US. Now the deal is made and the US had no say in it, and they will still likely rejoin it in a few years.

An epic trade victory and it turned out far better than if the US had stayed in TBH

-4 ( +10 / -14 )

Congratulations to the TPP signatories! This will bring massive economic benefits to all signatories and will be a gold standard for future multilateral deals

4 ( +11 / -7 )

Once again Japan showing how backwards it is by signing this terrible trade deal. Japan most likely conned the other 10 nations into signing it as well, which will definitely severely affect their economies as this deal is lopsided in favour of Japan

-3 ( +8 / -11 )

this deal is lopsided in favour of Japan

And yet you didn't even include a single item that is lopsided in favor of Japan.

8 ( +13 / -5 )

This will benefit the poor countries more then the rich countries but overall all will benefit from it. Read the agreement before making useless comments or having bias views towards Japan.

9 ( +13 / -4 )

We're proud ... to show the world that progressive trade is the way forward, that fair, balanced, and principled trade is the way forward, and that putting citizens first is the way forward for the world when it comes to trade," Canadian Trade Minister Francois-Phillippe Champagne said

This “citizen” eagerly awaits the results to show on prices and diversity of products on the supermarket shelves here in Japan. If not, we’ll then we will all know this has nothing to do with citizens, but rather the profit margins of the companies benefitting from reduced or zero tariffs. Is their a law that forces companies to pass on the benefits of all this warm cuddly touchy-feely “free trade” down to the consumer....ahh what’s that you say?....none! Oh well then, we’ll just have to rely on their generosity.

I have to wonder though how much of the “citizens” tax money was spent jetting and hosting all these negotiators in the years leading up to this pact? No yard sticks in place to show the net spend against the net result to citizens standard of living or pockets?

Im betting nothing to unnoticeable...cynical...maybe but I’ve been around long enough not to be getting excited about news like this!

-1 ( +6 / -7 )

Congratulations to the TPP signatories! This will bring massive economic benefits to all signatories and will be a gold standard for future multilateral deals

Agreed 100%! CPTPP is an amazing deal, and the details are well crafted by Japan,as the leader who never gave up hope on getting the deal back together. The participating nations should all benefit by an extra 1-2% per year on top of the GDP. Biggest World Trade Deal ever, and China, Koreas and EU will be very jealous today.Its Win-Win, and prices at the supermarket we should notice dropping from this Spring.

An epic trade victory and it turned out far better than if the US had stayed in TBH

Lets not shut out USA, once Trump has gone through the deal and OKd it, I expect USA to sign up in coming months. That trade-block would be then so dominant in the world, almost a monopoly to bully all non CPTPP nations, I hope!! LOL

1 ( +10 / -9 )

Haha, take Japan out of the mix and the total GDP of the other countries combined is less than California...

California is pretty amazing.

6 ( +7 / -1 )

It's not a free trade agreement. as stated it "reduces" tariffs, not eliminates them Always left out of these, agreements is the individual. The best majority of people have only their time and skill to trade, yet in all trade, agreements, something like an individual trading his labor is banned or blocked , also it sets up so many regulatory road blocks a small business can't participate. The only purpose of so called trade agreements is so government people can maintain control of and siphon money from economic activity. a second purpose of these trade, agreements is to remove competition, with the third purpose if absolving liability from whatever frauds and mistakes made by the people involved, government and corporate cronies.

3 ( +6 / -3 )

Abe has stuffed up the old people and the countryside people in favor of Mitsubishi and Toyota.

I guarantee the price for food that gets imported will be the same price as food produced in Japan.

No change in the cost of living, but no chance for Japanese farmers and fishermen to compete.

1 ( +3 / -2 )

There is nothing America cannot manufacture. America's agricultural and processed food products can feed the world.

-9 ( +2 / -11 )

I admit I'm no expert, but I feel like free trade is a good thing only if there are effective protections for human rights and the environment and limitations on corporate greed in all countries involved. Seeing as how we're nowhere near that, I can only see these deals as a race to who can exploit the situation the most.

3 ( +4 / -1 )

There is nothing America cannot manufacture.

And there is noting the rest of the world can’t manifacutre at a lower cost. Particularly after you kick out all your cheap labor.

America's agricultural and processed food products can feed the world.

And the rest of the world can feed itself without America.

4 ( +8 / -4 )

Abe has stuffed up the old people and the countryside people in favor of Mitsubishi and Toyota.

Wrong. PM Abe, when he first started the TPP negotiations, promised farmers in Japan that he would take all necessary measures to support them. No one would be worse off, he said.Farmers are his base,so PM Abe would not dessert them.

People here will continue to buy high-quality Japanese produce as staples, eg rice, fish, fruit and vegetables but have the option of buying occassional imported foods.Win-Win.And the much lower prices of imported goods will mean more money in the pocket of all Japanese.CPTPP is a once in lifetime, amazing deal.

-6 ( +0 / -6 )

America is a food importer.

2 ( +6 / -4 )

People here will continue to buy high-quality Japanese produce as staples, eg rice, fish, fruit and vegetables but have the option of buying occassional imported foods.

That's the ideal, but when it comes down to it, I think the majority of consumers will choose the cheaper of two options. In other words, the Japanese farming industry is probably in trouble.

3 ( +4 / -1 )

America's agricultural and processed food products can feed the world.

And people the world over are being warned to stay away from processed food, particularly meats... Not only American but from anywhere.

1 ( +1 / -0 )

As much Trump is out of TPP and wants ending NAFTA agreement. He should go to his goal of America First and make his United States of Trumpland. Will it work? Hmm...

0 ( +0 / -0 )

promised farmers in Japan that he would take all necessary measures to support them

Yeah right. just like he got the Olympic bid by giving the brown envelope and saying that Fukushima is fully okay. but it's totally out of contro.l he's a liar and he if you watch the news, he is also being accused of lying and cheating and Corruption so if you really believe this, then I think you work for the ldp

3 ( +4 / -1 )

Hooray! Another day the USA is irrelevant! No one is going to want to put "America First". Buh Bye

0 ( +6 / -6 )

over all the years that said the TPP was DOA, that it would never materialize, without the USA it would collapse, LOL now its up to other countries if they want to join in or be left out. have a nice day.

-2 ( +0 / -2 )

Turns out having a FTA between NZ, Australia, Canada, Japan, Singapore and Chile is the real positive here. Chile has been holding out for something grand so they may be the dark horse of the agreement. The other countries are kinda basket cases but these former countries have the most advanced economies between them. Without the USA competing they have the most opportunities to increase market share. Relative to each GDP we don't need a lot of billions between us for this to be successful. Personally I'm hoping for any NZ and Australian companies (or anyone else) to shake up complacent businesses here in Canada.

Brunei, Malaysia would be the middle group with potential change since they have low tariffs already, but Peru, Vietnam, Mexico bring up the rear having a lot to overcome to be safe and reliable rule of law business areas.

Given the continuing scandals in Japan about fraud, there may be a lot of questions about its fitness for trade but overall there should still be opportunities if companies don't mind verification of goods and services

1 ( +1 / -0 )

People here will continue to buy high-quality Japanese produce as staples, eg rice, fish, fruit there are also high quality foods from NZ & Australia, with strict quarantine practices have almost zero outbreaks of, foot in mouth, pig flue , bird flue, mad cow disease in the last 40yrs. food mislabeling is also non existent with harsh penalties for those caught. Australia and NZ back the quality of their products with proven statistics, not the illusion of them.

2 ( +3 / -1 )

now its up to other countries if they want to join in or be left out.

When it comes to the US, I don't think they should be let in even if they were to want in. Trump has shown they won't live up to agreements they've made in the past. Why should other countries let in a country that cannot keep its word? How long until we're dealing with the mess that comes from dealing with an unreliable partner?

1 ( +3 / -2 )

There is nothing America cannot manufacture. America's agricultural and processed food products can feed the world.

Okay. Strangerland took care of the rest.

-1 ( +0 / -1 )

I think it's good that the USA and for that matter China are not involved. If they were, they would never respect the other parties and throw their weight around too much. They're too big to be respectful trading partners. We've seen this already in NAFTA for decades, when USA doesn't like something they keep losing on the fact based dispute resolution panels over and over again, unwilling to change. It's such a pain. They want to scrap that panel in the "update" agreement. We don't, so they cry a lot.

With this group of countries, there is a better possibility of concrete change and quality improvement with fair discourse not by belligerent force. No guarantees of course, but who wants to be a China or USA stooge? I think we will do better without them

0 ( +0 / -0 )

Wonder what (or if) food items are going to become cheaper. Are we going to have an increased variety of choices? When?

2 ( +2 / -0 )

Speed

Probably not tomorrow. The agreement was just signed yeah?

-2 ( +1 / -3 )

The sad thing is the after effects of his half-a**** policies will not be felt immediately for him to deal with. Some future president would have to fix all this while our kids will suffer.

There goes the neighborhood. Ours.

-1 ( +0 / -1 )

These 11 nations also have stricter gun laws and have healthcare systems. Some to varying degrees than others cough Mexico cough but still, a lot more simpatico than you might think versus the declining USA

-2 ( +0 / -2 )

Vernon Watts - you said :

"Vernon WattsToday 06:57 am JST   Haha, take Japan out of the mix and the total GDP of the other countries combined is less than California..."

Not true. Such a total would be way over double Californias. In fact the combined total of the other nations, would still be greater than Japans.

I think you underestimate the Canadian, Aust., Mexican economies.

And hopefully a benefit of the tpp in the longer term (after tweeking), will be a supply of a huge variety of high quality, safe, perishables at affordable prices. The lack of competition in the wider food market here has resulted in a limited offering of goods at seemingly, a no limit to the prices. 

Waiting.

3 ( +3 / -0 )

Good news. I think good for Australian farmers in particular. Plenty of Aussie and N.Z cheese coming to Japan I'd suggest. I know expats always bang on about cheese lol. From an article yesterday....

WHAT'S IN THE TRANS-PACIFIC PARTNERSHIP FOR AUSTRALIA?

New reductions in Japanese tariffs on fresh, chilled and frozen beef.

New access for dairy products into Japan, Canada and Mexico including the elimination of cheese tariffs into Japan.

New sugar access into the Japanese, Canadian and Mexican markets.

Tariff reductions and new access for cereals and grains exporters into Japan, including, for the first time in 20 years, access for rice products.

Elimination of all tariffs on sheepmeat, cotton and wool.

Elimination of tariffs on seafood, horticulture and wine.

Improved regulatory regimes for investment, particularly in mining, resources, telecommunications and financial services.

Universities and vocational education providers will have legally guaranteed access to Brunei Darussalam, Japan, Malaysia and Mexico and will be able to supply online education services across the region.

New opportunities for Australian businesses in government procurement services including accounting, management consulting, architectural engineering, environmental protection and health.
5 ( +5 / -0 )

Under Trump the USA will continue to slide to the bottom. Thank God he's not in for life! Good on the TPP

1 ( +3 / -2 )

Another bonus is all 11 use the Metric System! Yay!

1 ( +2 / -1 )

Objectively speaking, one has to give credit to Putin - him installing his stooge in the White House without doubt will be considered one of the greatest political/foreign policy masterstrokes in history. And the benefits he is already reaping will continue for years to come. Absolutely brilliant.

"When it comes time to hang the capitalist West, the American businessman will sell us the rope." - Nikita Khrushchev

2 ( +2 / -0 )

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