When President Trump pulled the U.S. out of the TPP agreement almost immediatly after he took office, the world was not sure how the TPP would proceed, or if it could. However, the 11 other countries involved are looking at how they can move forward without the U.S. This push forward has been taken over by Japan, and recently had a meeting with the 10 other countries on how they could proceed with the U.S. powerhouse. The countries came together and started creating a new trade agreement, one that could work without the U.S. involvement.
In July of 2017, Japan and the EU met in Hamburg, Germany to create an outline of a broad trade agreement that could create $20 trillion in economic output. Japan and the other 10 countries involved will need to recreate the TPP to be able to bring it in effect. Currently, six countries that represent 85% of the worlds economic value of the 12 original members need to be on board for it to pass. Without the U.S. involved, it will not be possible. The world will keep watching and waiting to see how the other countries can come together to re-form the TPP.
Source:
https://www.nytimes.com/2017/07/14/business/trans-pacific-partnership-trade-japan-china-globalization.html
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What does the death of the T.P.P. mean for America? President Donald Trump signed the death warrants for the Trans-Pa...
That is a lot of money in economic output. To get everyone on board seems to be a challenge, do you think they will be able to do it?
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