January 24, 2018 – The 11 remaining members of a Pacific trade pact abandoned by U.S. President Donald Trump have agreed on a revised agreement, with the nations to work toward signing the deal by early March, according to the Canadian government.
Senior officials resolved outstanding issues, finalized the list of suspended provisions and completed the legal verification of the agreement, concluding negotiations after two days of talks in Tokyo on what has been renamed the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
The original Trans Pacific Partnership, which would have covered 40 percent of the global economy, was seen as a guarantee of U.S. involvement in Asia—an idea thrown into disarray when Trump withdrew in one of his first acts as president. Japan has led a scramble to keep the deal alive, with the hope of enticing the U.S. to return at a later date.
The following countries make up the agreement: Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.
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