politics

Malaysian PM urges TPP renegotiation in Tokyo speech

11 Comments
By Kazuhiro NOGI

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The TPP might unravel due to current events. With the disasterous G7 summit left up in the air, its anyone's guess how the international trade order goes from here.

-1 ( +0 / -1 )

"It cuts tariffs and requires members to comply with a high level of regulatory standards."

With TPP members their is a lot of talk, a lot of promises, but their trade barriers, many hidden, remain in place. As said before, these trade barriers are more detrimental to American exports than the tariffs themselves.

-1 ( +1 / -2 )

The reason tariffs exist is to prevent competition, and to kill off infant industries before they get big enough to compete with those which are already established.

Unless TPP is about truly free trade, then it is nothing but a sham. Since Japan is vehemently opposed to anything resembling free trade, TPP might as well be buried.

-2 ( +1 / -3 )

The TPP might unravel due to current events. With the disasterous G7 summit left up in the air, its anyone's guess how the international trade order goes from here.

More likely go in the opposite direction I would have thought.

Only Japan and Canada are G7 members and after a brief period of hesitation with Canada, they now seem quite on-board with it all. Given the attitude of the U.S, I would imagine Canada would be extremely reluctant to cause any problems with the TPP now. America's actions are actually a positive re Canada/TPP

You can bet that Japan and Australia will fight tooth and nail to keep this agreement alive. Australia really, really needs to step up its engagement with non-traditional trade partners.

Australia will sign a free trade agreement with Indonesia soon demonstrating a willingness on behalf of Indonesia to negotiate trade deals. Should be looking at Indonesia, Thailand and at least one other South American country to sign up over the next few years.

4 ( +4 / -0 )

I would imagine Canada would be extremely reluctant to cause any problems with the TPP now.

And I'd bet they will be even more open to trade agreements with other nations right now as well.

Canada needs to batten down the hatches and start hedging their bets. They had too many eggs in the US basket, leaving them exposed to issues like this when the US puts someone a little loony into office. They need to ensure that they are isolated from the effects of future presidents.

3 ( +3 / -0 )

Canada needs to batten down the hatches and start hedging their bets. They had too many eggs in the US basket,

75% of Canadian exports go to the U.S. That is a HUGGGEE state of reliance. People are terrified of 35-40% of Aus exports going to China and what might happen.

Aly

I know you want CANZUK. If this keeps up, I should think its another good sign for CANZUK and the way the U.K is going in Brexit negotiations, they might crash out, further enhancing the desire for CANZUK I would have thought.

4 ( +4 / -0 )

https://atlas.media.mit.edu/en/profile/country/can/

2 ( +2 / -0 )

The reason tariffs exist is to prevent competition, and to kill off infant industries before they get big enough to compete with those which are already established.

Canada's milk tariffs seem to be to prevent sub-quality milk from entering Canada, which doesn't fit into that.

2 ( +2 / -0 )

Only Japan and Canada are G7 members and after a brief period of hesitation with Canada, they now seem quite on-board with it all. Given the attitude of the U.S, I would imagine Canada would be extremely reluctant to cause any problems with the TPP now. America's actions are actually a positive re Canada/TPP

I agree

You can bet that Japan and Australia will fight tooth and nail to keep this agreement alive. Australia really, really needs to step up its engagement with non-traditional trade partners.

Don't forget New Zealand. If anything, they want it more than anyone.

Aly

I know you want CANZUK. If this keeps up, I should think its another good sign for CANZUK and the way the U.K is going in Brexit negotiations, they might crash out, further enhancing the desire for CANZUK I would have thought.

Thanks Matt. You gave me hope. If it does work out, believe me mate, all 4 countries in CANZUK are going to see some wonderful times ahead.

-1 ( +0 / -1 )

Canada needs to batten down the hatches and start hedging their bets. They had too many eggs in the US basket, leaving them exposed to issues like this when the US puts someone a little loony into office. They need to ensure that they are isolated from the effects of future presidents.

Exactly. The same with the UK and EU. Diversify.

1 ( +1 / -0 )

Countries need to stop signing into agreements, and then later pulling out or trying to renegotiate it because of an election. It's not good or business.

1 ( +1 / -0 )

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