Labor has admitted there are economic and strategic benefits to the Trans-Pacific Partnership, but says the trade deal is "dead" under the Trump administration.
Prime Minister Malcolm Turnbull continues to insist the agreement could still go ahead and spent a second day in Queensland talking up the benefits of export trade deals for jobs and economic growth in the TPP, which he wants legislated.
Labor trade spokesman Jason Clare said the 12-country agreement has merit, but is "dead" because of US President elect Donald Trump's opposition to it.
"It has modest economic benefits for Australia; it's strategically important because it brings together the countries of the Pacific rim," Mr Clare told ABC radio on Tuesday.
He noted concerns with part of the deal, including the removal of labour market testing for six countries, meaning businesses can hire workers from those countries without first checking if there's an Australian that can do the job.
Labor leader Bill Shorten, who visited a business in Sydney on Tuesday, said the opposition would consider the legislation but failed to see why Mr Turnbull was pursuing it.
"We are left in a farcical situation where you have Malcolm Turnbull basically asking the Australian parliament to vote on last year's grand final," Mr Shorten said.
"The result's over, the verdict's in. The TPP is dead in the water."
Mr Turnbull said he had discussed the TPP directly with Mr Trump, and the incoming US secretary of state Rex Tillerson had told a Senate confirmation hearing he did not oppose the trade deal.
The prime minister says key Republicans in the Congress are supportive of the deal.
"What we've done is deliver strong economic growth and jobs ... by opening up those big markets," he said.
"(Mr Shorten) is not yesterday's man, he is last century's man - he wants to go back to protectionism."
Asked whether the TPP could go ahead without the US, Mr Shorten said it would not be the same agreement.
"We need trade which includes America in terms of the regional architecture. If Mr Turnbull has another plan, put it on the table," he said.
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