Leaders of 12 countries involved in the Trans-Pacific Partnership (TPP) are set to discuss the future of the free trade deal on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit set to start in Peru on Nov. 17.
While U.S. President-elect Donald Trump vowed to scrap the TPP deal, some member countries have started to explore the possibility of putting the trade pact into effect without the United States, or forging a free trade agreement (FTA), an alternative to the TPP. Japan is becoming wary of a situation in which China takes over the leading role in trade negotiations in the Trans-Pacific region.
Economic and Fiscal Policy Minister Nobuteru Ishihara said during a session of the House of Councillors special panel on the TPP on Nov. 16, “There is no change in our policy of seeking the early effectuation of the TPP including the United States.” But some member countries have started moving on the assumption that the TPP deal is destined to falter.
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