TPP meaningless without US: Japan

The Trans-Pacific Partnership is "meaningless" without the participation of the US, the Japanese government says.

TPP

US President Donald J. Trump shows the Executive Order withdrawing the US from the Trans-Pacific Partnership (TPP), 23 January 2017. Source: Consolidated News Photos POOL

The Japanese government says that the Trans-Pacific Partnership is "meaningless" without the participation of the United States after the US President withdrew his country from the multilateral trade agreement.

"The TPP is meaningless without the US because it would lose the fundamental balance of benefits," Japanese government spokesman Koichi Hagiuda told reporters at a news conference.

However, Tokyo insists it will try to convince the Trump administration of the advantages of being integrated into a framework such as that proposed by the TPP, which sought to unite Japan, the US and 10 other countries in the Pacific basin, including Australia, in the world's largest free trade zone.

"Mr Trump is aware of the importance of free and fair trade. We want to help him understand the strategic and economic merits of the TPP," Hagiuda added.

Trump on Monday signed a decree that effectively ends his country's participation in a trans-Pacific free trade agreement.


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Source: AAP



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