The Trump administration’s stances on the TPP in April probably established an all-time record for policy U-turns. The TPP’s major members, though, made real progress with the EU
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.
Mexico’s top trade negotiator said in an interview published on February 27 that he would walk away from the table if US negotiators threatened 20% duties on cars.
A possibly unscripted February 13 remark by Donald Trump might indicate he wants to break up NAFTA, not merely renegotiate it.
The EU and Mexico announced on February 1 an “accelerated timetable” to upgrade their current free trade deal. Though two more rounds of talks were planned for the first half of 2017, no date has been offered for agreement or for ratifying any ensuing deal.
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.
The British Brexit debate, and the aftermath of Trump’s election, are bringing out widely contrasting views of China as a business partner. Some are hopelessly naive.
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 developed world depends almost entirely on imports from poorer countries for its clothing. The world’s biggest apparel importer looks certain to transform its attitude to importing that apparel
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.
Why is the TPP (and with it the TTIP and the TiSA) so close to death?
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.
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.”