Canada launched a website on March 10 to carry a consultation exercise with its citizens about a possible free trade agreement with China.
Before a March 14-15 meeting in Chile planned to review next steps after US withdrawal from the TPP, other negotiating partners – plus China, Korea and Colombia – shared views on future possibilities.
On March 10, almost two months after the day Trump promised to leave NAFTA, Commerce Secretary Wilbur Ross revealed it had not yet decided its strategy.
Shujiro Urata, a fellow of the Japan Centre for Economic Research and a former economist at the World Bank, said on February 28 that China has been unable to “contribute constructively” to the past five years’ Regional Comprehensive Economic Partnership (RCEP) talks and would be unable to accept some key TPP chapters.
On February 15, the EU’s Parliament approved the Comprehensive Economic and Trade Agreement with Canada, abolishing tariffs on 98% of EU-Canada trade.
A possibly unscripted February 13 remark by Donald Trump might indicate he wants to break up NAFTA, not merely renegotiate it.
The eleven countries abandoned by the US when it left the Trans Pacific Partnership on January 23 appear seriously divided about what to do next. Beijing continues to suggest their best response is a completely different arrangement centred on China.
Theresa May keeps insisting “Brexit means Brexit”. But no-one in Britain can agree what Brexit means, how long it’ll take to get there or what Britain’s trade policy will be once it’s out of the EU.
The US Administration admitted on November 11 it no longer expected Congressional ratification of the Trans Pacific Partnership (TPP) during the Obama Presidency. President-elect Trump has already announced abandoning the deal will be among his first acts after his January 20 inauguration.
I simply don’t buy US lobbyists’ conviction the TPP will get ratified this year. Shouldn’t they abandon the attempt?
Why is the TPP (and with it the TTIP and the TiSA) so close to death?
EU announces review of extending its Customs Union with Turkey – but won’t let Turkey into negotiations on TTIP (which Turkey wants to join). It says it will upgrade its free trade deal with Mexico to match its deal with Canada and TTIP – but Americans and some European politicians stay sniffy about its Trade Commissioners’s views on TTIP.
Though possibly temporary, the May 12 US Senate rejection of a proposal to speed up approval of the Trans-Pacific Partnership (TPP) also imperilled progress on other key trade issues – such as renewing of the AGOA programme, which expires on September 30. By late May 13, Senate deals seemed to offer greater likelihood of progress.
Canada announced on March 13 that imports from Burma were duty free, with immediate effect, providing they conformed to Canada’s Least Developed Country rules of origin.
The US President’s Trade Agenda released on March 4 says “in 2015, [the US] will conclude negotiations with TPP countries.” But the day before, Orrin Hatch, the Republican chairing the Senate Finance Committee, told reporters Congressional discussions on Trade Promotion Authority (TPA) – a legal procedure designed to speed its ratification – are “kind of stuck.”