politics

11 TPP countries go it alone without U.S.

34 Comments
By Paulina Abramovich

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© 2018 AFP

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34 Comments
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Who cares if the U.S. is part of it.... that said, it will be interesting to see if we actually see lower prices on products from these countries here in Japan. Right now there is a need to raise prices due to increased labor costs, so we may actually see retailers keep prices the same and profit a bit more on their imported items.

2 ( +8 / -6 )

If things continue at the same price, it will mean this is just a business deal that makes a few very rich.

0 ( +7 / -7 )

Why did they re-brand it by adding "Comprehensive" and "Progressive" not just leave it at TPP?

Yeah, if Trump wants to keep shooting the US in the foot, then let him.

The TPP can and should strive to succeed w/o the US. Lead by example.

0 ( +6 / -6 )

CPTPP is a win for the 11 nations, lead by Japan. CHina and the two Koreas will be envious of the free trade and economic boom soon to follow in 11 nations.Thank you Abe-San and Aso-San for always believing in it, even when US pulled out.

0 ( +13 / -13 )

good luck with that!

2 ( +7 / -5 )

They just might be better off not having the U.S. participate.

4 ( +9 / -5 )

@Ganbare Japan - the free trade and economic boom soon to follow in 11 nations

Oh, boy! Do you really believe there will be a ‘boom’? And, if there is a major increase in consumerism, do you actually believe it will be felt in Japan? This whole trade deal has been bastardized to suit each country. Japan only agreed to removing tariffs a few products. They have kept tariffs on the competitive and price-fixed products to avoid any chance of cheaper products flooding domestic markets. For Japan, this trade deal only means their exported goods will be cheaper on the other countries, but due to the large amount of scandals involving falsified data and product quality people are wary of buying Japanese products and dealing with Japanese companies.

6 ( +15 / -9 )

Go it alone or along? Coz if they are 11 then they're definitely not alone.

12 ( +12 / -0 )

@ Disillusioned - Have to agree with you... I read the TPP portion regarding Aussie Beef, the phase in for lower pricing was over 10 years and it still did not wipe out tariffs altogether. As you said, it is still quite "bastardized" and I also think we will barely see difference even after implemented. Every one of the 11 countries that are participating have melded in tariffs protecting home grown domestic markets.

6 ( +11 / -5 )

They just might be better off not having the U.S. participate.

yeah who needs the #1 economy in the world on a trade deal. haha good luck

0 ( +8 / -8 )

Japan has used the agreement to protect its tax payer subsidised industry's, while gaining an in for their own in other countries. There is no way the LDP will allow competition in Japan. Because that would collapse a teetering business model.

6 ( +10 / -4 )

I hope the leaders of all countries write to their various top 100 companies, business associations etc encouraging them to look at the details of the agreement and reassess their business in each of these countries.

Personally, I would like to see the Australian PM in my home country actually insist that Australia's top 100 companies actively engage in that and that the government strongly advises they send a report to the DFAT by the end of the financial year 2019/20 on what they are doing or what there thoughts are regarding potential business opportunities in these countries going forward. It would also give them an opportunity to highlight any problems the government has not yet recognized and seek solutions from partner countries.

Doesn't have to be 200 page effort, just a tidy 30 page summary. Got 1.5 years to write it.

-4 ( +1 / -5 )

Incredible news and definitely one of the most successful trade deals in world history! This along with the EU trade deal leaves Japan in a commanding economic position for the next few decades and all consumers will benefit. Incredibly good news

3 ( +9 / -6 )

(but) it would not be so easy" to change the agreement again, said Tokyo's chief negotiator Kazuyoshi Umemoto.

Nothing of worth is ever easy mate. You either work hard to make difficult things happen or you stick with expediency. Your choice, at your own peril.

-2 ( +3 / -5 )

@ dcog9065

Incredible news and definitely one of the most successful trade deals in world history! 

Brilliantly stated, however I would say that CPTPP is THE biggest and most successful trade deal in history. Japan is truly in the drivers seat, however if USA wishes to come back in and abide by all the terms, the deal will be even greater success. Lets not discount Pres. Trumps "Art of the Deal". He is a born dealmaker.

I honestly think that with the boost to Japan, and with China slowing down rapidly compared to Japan, this amazing deal is a chance for Japan to retake No.2 world economic power title. Should NEVER have lost it. It may not happen soon, but give it 5 years.Especially after big Olympic boost added to CPTPP boost (Japan should start growing at around 4-5 percent per year)

1 ( +10 / -9 )

And the loser is: The United States of America ... thanks to current occupier of the White House!

0 ( +9 / -9 )

They just might be better off not having the U.S. participate.

yeah who needs the #1 economy in the world on a trade deal. haha good luck

Yep agree with you dango. Let's face it all nations involved in the TPP wanted easier access to US massive market, especially rich countries like Oz that don't have the 'right' products ( i mean for smallish markets) and/or are just too expensive for minnows like Peru, Chile, Vietnam etc (plus they already have a trade agreement with the only other big player left i.e. japan).

Situation is a bit different for Japan (multiple industries including manufacturing & technology), plenty of 'reasonably priced' products to sell so i guess TPP is better than nothing ( small change compared to recent deal with the EU though).

No doubt each TPP member would happily 'trade' their TPP membership for a single bilateral trade deal with the us.

2 ( +2 / -0 )

I wonder if it is secret like the TPP? And ones include not just trade, but spying internet freedom multinational company protectionism, intervention in countries food safety and labeling etc?

0 ( +3 / -3 )

yeah who needs the #1 economy in the world on a trade deal. haha good luck certainly not if any agreement is weighted heavily in the US favor, it may be that China is a better potential partner. If China decides to step up you can guarantee America will come bolting to the table begging not to be left out.

1 ( +4 / -3 )

Nothing will change here in the domestic retail system, no matter how many treaties Japan will sign. It is just pointless. In the end, if you want a good quality cheese or chocolate at reasonable price, you need to go to Costco which imports a lot of their produce from US.

2 ( +4 / -2 )

Very happy USA is not involved. With NAFTA failing, Canada and Mexico are helped with the CPTPP. This might lead to interesting arrangements in the Asia pact to build resilience away from USA. USA increasingly becomes isolated

-2 ( +1 / -3 )

yeah who needs the #1 economy in the world on a trade deal. haha good luck

It won't be #1 in the world for long if people keep making trade agreements that bypass the US.

It's ok though, America first right!

Of course, the rest of us are thinking 'the rest of us first'. Which is ok right - we should all be thinking of ourselves. So the US can think of itself first, and the rest of the world are thinking the rest of the world first.

-5 ( +1 / -6 )

I hope they all put super high tariffs on tobacco products.

1 ( +5 / -4 )

May God help Japan to open up her market! Thats what the other 10 countries think!

4 ( +4 / -0 )

Yeah, if Trump wants to keep shooting the US in the foot, then let him.

What does this have to do with Trump? Clinton, Sanders and Trump were all against the TPP.

These so-called free trade agreements are usually anything but. Free trade is easy, and doesn't require 1000s of pages of rules mostly aimed at protecting special interests. If people want free trade, they simply trade.

3 ( +4 / -1 )

No country is willing to open their own market to others, that was why TPP is not a feasible trading pact! Everyone knows Japan has a lot of exempts and special privilages during Obama in office, so those 10 countries might think: 'Why me, why should I open up my country for others' export flooding in?' The TPP is a political gesture, it has nothing good to anyone except Japan, the largest exporter in this pact.

1 ( +2 / -1 )

TPP may slash tariffs so they claim, but will they slash their many hidden trade barriers so designed to restrict imports into their countries. As many know, these trade barriers are more detrimental to free trade than the tariffs themselves. They should listen as to what Trump has to say if the want truly free trade. Again, all Trump is asking for is a fair playing field.

"The United States has an $800 Billion Dollar Yearly Trade Deficit because of our “very stupid” trade deals and policies. Our jobs and wealth are being given to other countries that have taken advantage of us for years. They laugh at what fools our leaders have been. No more!"

Donald Trump

1 ( +1 / -0 )

Typical MSM.

Hey, the main reason it was opposed by many Americans and others was because of 1. its secrecy; and 2. only half was about trade.

So, I guess that's not an issue anymore by the looks of some of the comments here. Is it that some of you commenters don't care about the above, or did you forget?

Can you go on line and read it?

Since the AFP decided not to even touch on this issue, sends up a red flag for me.

Im glad the US is out.

https://m.youtube.com/watch?v=JCpnk5OuzUE

-2 ( +1 / -3 )

Data was released Feb 20th already. We don't have to listen to the USA's version of facts. We are free of an American's opinion. How sweet is that? Also without USA companies we can each increase our respective market shares.

All the PDF sections noted below. I'm sure other countries have their own links. Noted CPTPP concerns of maintaining local health and pollution control were upheld hence the name change. Japan and Canada will be the larger economies in the pact but everyone has their own strengths so it should have some interesting opportunities. Tariffs are in separate appendixes so it'll depend on their timing and how each country bargained.

NZ: https://www.mfat.govt.nz/en/trade/free-trade-agreements/free-trade-agreements-concluded-but-not-in-force/cptpp/comprehensive-and-progressive-agreement-for-trans-pacific-partnership-text/

Canada: https://www.canada.ca/en/global-affairs/news/2018/02/minister_champagnewelcomesreleaseoffulltextofthecomprehensiveand.html

1 ( +1 / -0 )

@sf2k

nice links

I do wonder if these "panels" put together for solving trade disputes can remain objective. I hope so, but knowing how the market in "brown bags" is so prevalent, I'm very curious to see one in action in the future.

0 ( +1 / -1 )

FizzBit

That's a good point. Given any countries with a lower corruption index than the other participants if there were complaints they'd come from those. Third party verification of goods and services should be a strong business.

Wikipedia rates New Zealand the lowest on the corruption perception index tied for 1st with Denmark, then Singapore 7th, Canada at 9th, Australia 13th, (USA 18th), Japan 20th, Chile 24th, Brunei 41st, Malaysia 55th, (China 79th), Peru 101st, Vietnam 113th, Mexico 123rd.

Should a business want to go somewhere they are going to be put off relatively to another legal framework. Hopefully it will raise the bar everywhere, and hopefully on the lower ends the most

0 ( +0 / -0 )

It's great to see this agreement ratified this week. In addition to the economic issues, this type of agreement solidifies a desire to work together for mutual benefits.

0 ( +0 / -0 )

11 TPP countries go it alone without U.S.

Eleven on one side, one on the other. 'T'ain't the 11 nations that are going it alone.

Reminds me of the old UK-centric headline - Fog in Channel, Europe Isolated

0 ( +0 / -0 )

Eleven on one side, one on the other. 'T'ain't the 11 nations that are going it alone.

Well, considering the USA has almost twice the GDP of all those 11 nations put together, I think it's not inappropriate to say the 11 nations are going it alone.

-1 ( +0 / -1 )

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