4.2.3 CPTPP (2018)
Completion requirements
In January 2018, Canada, Australia, Brunei, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam ratified the revised Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) trade agreement.
The original agreement, known as the Trans-Pacific Partnership (TPP), fell apart when the United States withdrew in 2017. However, the other member nations felt the benefits of the partnership out-weighed any losses experienced with the US withdrawal.
Despite the initial withdrawal, on 12 April 2018 United States president Donald Trump expressed an interest in re-joining the TTP in an attempt to give the United States more leverage in its trade talks with China. As of April, 2018, it is unsure how these trade issues will unfold.
This situation illustrates the complex nature of global trade.
The original agreement, known as the Trans-Pacific Partnership (TPP), fell apart when the United States withdrew in 2017. However, the other member nations felt the benefits of the partnership out-weighed any losses experienced with the US withdrawal.
Despite the initial withdrawal, on 12 April 2018 United States president Donald Trump expressed an interest in re-joining the TTP in an attempt to give the United States more leverage in its trade talks with China. As of April, 2018, it is unsure how these trade issues will unfold.
This situation illustrates the complex nature of global trade.