BOJ Kuroda Urges US to Ratify TPP

Bank of Japan Governor Haruhiko Kuroda on Monday urged the United States to ratify the Trans-Pacific Partnership free trade deal, amid growing fears that the pact will not take effect following the victory of Republican Donald Trump, a strong opponent of the deal, in the U.S. presidential race.

Kuroda, who met with the press for the first time since last week’s U.S. election, also expressed hope that the president-elect will carry out economic measures in an appropriate manner with the backing of the Republican-controlled Congress.

“The TPP is a major milestone as Japan and the United States have taken the lead in creating the world’s biggest free trade zone,” Kuroda said at a press conference in Nagoya, central Japan.

Japan, which has relied on exports to drive economic growth, will “lose a big advantage” if the TPP is not realized, Kuroda added, in urging the U.S. Congress to ratify the trade agreement.

via Mainichi

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza