The 11 members of a Pacific trade pact abandoned by U.S. President Donald Trump have reached a deal on a revised agreement, with the nations expecting to sign a final deal by early March.
Canadian Prime Minister Justin Trudeau said Tuesday negotiations had concluded on what is now known as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership. The deal was reached after two days of talks in Tokyo, and came just hours after Trump imposed tariffs on imported solar panels and washing machines — his first major move to level what he says is a global playing field tilted against U.S. companies.
“The agreement reached in Tokyo today is the right deal,” Trudeau said at the World Economic Forum in Davos, Switzerland. “Our government stood up for Canadian interests and this agreement meets our objectives of creating and sustaining growth, prosperity and well-paying middle-class jobs today and for generations to come.”
Senior officials resolved outstanding issues, finalized the list of suspended provisions and completed the legal verification of the agreement. The whole agreement looked like it might collapse after contentious negotiations in November, when Canada’s participation was thrown into doubt.
via Bloomberg
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.
Alfonso Esparza