Japan PM Acknowledges Bleat TPP Fate Ahead of Trump Talk

Japanese Prime Minister Shinzo Abe admitted Monday that the Trans-Pacific Partnership trade pact is in trouble after last week’s election of TPP opponent Donald Trump as the next U.S. president, but he said he will drive home his views on free trade in a meeting with Trump later this week.

“To be frank, I recognize that (the TPP) has hit difficult circumstances,” Abe told a session of a special upper house committee deliberating on the pact.

“But that doesn’t mean it’s over,” he said.

Abe said he will make clear his stance on free trade to Trump in New York on Thursday before attending a summit of the TPP signatories in Peru, where he will repeat his call for each of the leaders to quickly complete their domestic ratification procedures.

“I hope the 12 leaders will together send (a message) to the world about the significance of the TPP,” Abe said.

U.S. President Barack Obama and the other TPP leaders are set to meet on the sidelines of the Nov. 19-20 summit of the 21-member Asia-Pacific Economic Cooperation forum in Lima.

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