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.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.