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Japan completes domestic procedures to ratify TPP without U.S.

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Meanwhile, results of Trump's sanctions and countersanctions are trickling out. I do hope the TPP means we finally get a good selection of fairly-priced cheese. Steps forward are better than steps backward.

6 ( +6 / -0 )

Good move, but I want to hear more about getting new members, particularly from South America.

4 ( +5 / -1 )

TPP is pretty much meaningless without the U.S., isn't it?

-11 ( +1 / -12 )

Serrano, if the USA wants to isolate itself, than let it happen. The TPP nations will do just fine without them! The USA will suffer not the other nations of the world.

11 ( +11 / -0 )

While I have my resignations about the environmental impact of the global meat industry and its entrance in the Japanese market, I see the TPP as somewhat necessary for other reasons.

One reason being that the Japanese agricultural industry needs a significant impetus to start producting more efficiently (fewer, larger farms) and deliver high-quality value-added products. (Ex: Japanese cheese is usually dreadful)

The average Japanese farmer has long had grey hair and I can’t see the current model lasting much longer without an increase in exports from overseas. The Japanese government should continue to financially support farmers who are able to remain efficient without becoming reliant on an under-class of imported labor like the U.S.

The best result from the TTP would be cheaper produce for the average Japanese (who are getting poorer) as well as financial support for farmers in Japan, especially for young farmers and recent migrants to Japan (though the latter may rarely happen under Abe).

Somehow, farming in Japan will need to change dramatically in the next 20 years...and TTP must be followed up with additional efforts to ease this transition.

3 ( +3 / -0 )

Japanese farmers are whining because they no longer have a monopoly and thus their highway robbery scheme might be impacted.

Unfortunately, I doubt consumers will see any savings. Instead, I suspect that most of the savings will be stolen as profits by the all-too-abundant Japanese middlemen.

2 ( +2 / -0 )

Japanese farmers are whining because they no longer have a monopoly and thus their highway robbery scheme might be impacted.

Unfortunately, I doubt consumers will see any savings. Instead, I suspect that most of the savings will be stolen as profits by the all-too-abundant Japanese middlemen.

2 ( +2 / -0 )

TPP is pretty much meaningless without the U.S., isn't it? if it was then the other members would be finalizing it would they, when China makes their own pact with the Asia pacific then well see if America still wants to go it alone. LOL

-1 ( +0 / -1 )

SerranoToday  04:43 pm JST

TPP is pretty much meaningless without the U.S., isn't it?

no. ask all the blue collar trump supporters in deeply red districts who are being adversely effected by retaliatory tarrifs from China, the EU, Canada & Mexico. if trump supporters are forced to "buy american" while they're facing shrinking wages & losing jobs; they won't turn on him but will instead starve to death. personally, i wouldn't mind watching them die. it'd make for great reality TV.

3 ( +3 / -0 )

Well done. Japan now has completed two important trade pacts. The TPP and EU-Japan. The EU has just approved the EU-Japan trade pact and Japan has passed the TPP . Abenomics is on roll and Japan is now the leader of the Free world and the world now looks at PM Abe as leader among leaders.

-2 ( +3 / -5 )

"...signaling Tokyo's determination to promote free trade."

Under "free trade," Japan would be awash with millions of tons of rice from Australia, Vietnam and Thailand. However, Japan has already worked out deals to restrict such imports. TPP is not "free trade" but a "managed trade agreement." Japan would never, ever consent to "free trade" in its domestic market.

3 ( +3 / -0 )

"free trade accord" This is funny as Japan has and is one of the most protectionist countries in the world.

TPP was orchestrated by Japan looking for allies to help re leave the pressure from the US for fair trade. Australia is a member of TPP, yet unbeknownst to many, Australia also has a separate bilateral trade agreement that could be the envy of the world.

Again, what is Japan afraid of with a bilateral one on one free and fair trade agreement with the US?

"while they're facing shrinking wages & losing jobs; they won't turn on him but will instead starve to death. personally, i wouldn't mind watching them die. it'd make for great reality TV."

American wages are not shrinking nor are they losing jobs. Wages have increased and so have jobs. Let's stick to the truth.

"starve to death. personally, i wouldn't mind watching them die." Such hatred for the American people is uncalled for. One should be ashamed as to make such a hateful statement.

1 ( +5 / -4 )

"Japan would be awash with millions of tons of rice from Australia, Vietnam and Thailand"

You are right. Do you know who owns those rice fields? Japanese trading companies. That's why Japan agreed to open its rice market, Japan owns the fields. Smart Japan!

-4 ( +2 / -6 )

I wonder if some of the language I disagreed with a year or more ago (as did many on this board) that the US companies sponsored (pharmaceutical lengthening right to restrict generics, being able to essentially sue a nation for the laws the people create, forcing GMO food on countries, etc.) are still in the deal?

There seemed to be a strong agreement from many here that this was overall a bad deal. Reading the comments seems that tide has turned. Admittedly, I have not been following this as close as of late.

2 ( +2 / -0 )

It is so great to see Japan is leading the TTP.

Japan shouldn’t be worried, and just focusing on leading the financial services developing, and producing quality high tech stuffs.

It will take us many decades to catching up with Japan’s current high tech industries.

No point to concern about cheap rice, meats, fruits flooding your market, because one of your average car would trade for a few hundred tons of good quality rice, meats, or fruits. One smart phone on the palm of you hand would trade for a few tons of rices, etc. Show us how to produce the best quality of foods to meet your standard, and you would be just fine..

Your heavy machinery industries, ship building, space and aircraft industries are on high demand for quality and high tech...

I am sure the US will join the TTP in the later stage when see us are all doing well, whether under Trump’s administration or the next.

Well done Japan !

We are with you on this journey...

-2 ( +2 / -4 )

“Free trade”? Had it been a free trade agreement, America would not have pulled out. TPP was a free trade agreement, with all partners agreeing to zero tariffs on all goods after 3 years. Then Japan joined the treaty, and removed anything “free” about it.

The moment Abe began demanding exceptions in the treaty, Abenomics was over. Without trade reform, there would be no fiscal reform, and no deregulation. And none of these have come to pass, have they?

Without America the treaty is utterly irrelevant, the rest of the members combined don’t amount to a fraction of America’s economy.

Abe killed TPP, not Trump.

3 ( +6 / -3 )

“Free trade”? Had it been a free trade agreement, America would not have pulled out. TPP was a free trade agreement, with all partners agreeing to zero tariffs on all goods after 3 years. Then Japan joined the treaty, and removed anything “free” about it. 

The moment Abe began demanding exceptions in the treaty, Abenomics was over. Without trade reform, there would be no fiscal reform, and no deregulation. And none of these have come to pass, have they?

Without America the treaty is utterly irrelevant, the rest of the members combined don’t amount to a fraction of America’s economy.

Abe killed TPP, not Trump.

Bingo! Somebody gets it.

-2 ( +4 / -6 )

13% of the world's economy is a big enough chunk to warrant such an agreement. Let the US just shrink its economy by losing more and more international clients who have no reason to do business with the US anymore because of their protectionism.

2 ( +3 / -1 )

have fun trading syrup with Canada

-1 ( +0 / -1 )

Doing things "without the United States" -- TRENDING!

2 ( +3 / -1 )

Saying the US has protectionism is like calling the kettle calling the pot black. Americas problems for many years are other countries protectionism and dumping to destroy Americas Industries.

The US will not join TPP without a fair playing field for all.

1 ( +2 / -1 )

13% of the world's economy is a big enough chunk to warrant such an agreement. Let the US just shrink its economy by losing more and more international clients who have no reason to do business with the US anymore because of their protectionism.

”Protectionism”? No one practices protectionism more than Japan, which is why Japan changed TPP from a free trade agreement to an agreement which “protects” Japanese agriculture and “sensitive” products.

As for “shrinking” economies, America’s is the only industrialized economy which is seeing substantial growth right now, right? What was Japan’s most recent GDP figure? Negative, wasn’t it?

Japan’s population is falling now by more than 400,000 per year. No one needs free trade and economic liberalization more than Japan.

The LDP does not do free trade, it is all a farce. The LDP buys it’s way into power by using money from agricultural tariffs to buy the rural vote, as rural voters get 3 votes per person. This is the trick the LDP has used to keep almost perpetual power.

Japan imports all of it’s energy, most of it’s materials, and much of it’s food. Even if Japan lowers tariffs, it’s constant practice of keeping the yen week keeps the prices of imports high. And when that fails to keep import prices low, Japanese retailers turn to price fixing.

Remember back in 2011 what happened to the prices of imported goods and cars when the exchange rate fell to 76 yen to the dollar, and 100 yen to the euro? Nothing happened, prices remained exactly the same.

It’s all a farce. Any change in costs brought in by TPP will go to the pockets of Japan Inc and the LDP, the people will pay the same retail prices.

1 ( +3 / -2 )

Funny how everyone is suddenly only pro tpp after us left, whereas before everyone was staunchly against the deal. Opportunistic, much?

0 ( +0 / -0 )

Funny how everyone is suddenly only pro tpp after us left, whereas before everyone was staunchly against the deal. Opportunistic, much?

I was anti-TPP before the US left it, and I'm ok with it for two main reasons now:

1) The original agreement had some messed up rules on intellectual property that would have screwed it up. From what I understand, these were removed after the US left.

2) Now that the US is in the process of turning inward and isolating itself, the rest of us need to come up with agreements to bypass them. This new TPP did just that.

0 ( +0 / -0 )

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