TPP brings 500m people into Pacific trade deal
Despite US withdrawal, Pacific rim countries forged ahead with trade agreement

The 11 remaining members of the Trans-Pacific Partnership (TPP) will sign a new pact later today in Chile’s capital, Santiago.
The TPP had seemed dead in the water after Donald Trump took the US out of the deal early last year. But after overcoming differences, Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, Peru, Singapore, Vietnam, and New Zealand finalised the details of the agreement in Tokyo on Tuesday, paving the way for the official signing today.
Japan’s TPP minister, Toshimitsu Motegi, described the deal as “a landmark for the future of our country and the Asia-Pacific region”, the Japan Times reports.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
The original TPP would have represented roughly 40% of the world’s economic output. Without the US, the new pact, renamed the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), will cover just 13% of global GDP, but still include around 500 million people.
It could be good news for the UK: earlier this year, says The Guardian, Britain floated membership of the TPP as a way to boost post-Brexit trade.
The deal has proved hugely controversial over the course of its long gestation period. The original pact aimed to deepen economic ties between Pacific rim nations, slashing tariffs and fostering trade to boost growth, and forging a closer relationship on economic policies and regulation.
But, for its US critics, the TPP was “a secretive deal that favoured big business and other countries at the expense of American jobs and national sovereignty”, says the BBC. Those on the left claimed it would cost US jobs and “pave the way for companies to sue governments that change policy on, say, health and education to favour state-provided services”, says the broadcaster.
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Despite these reservations, former US president Barack Obama made the deal a priority of his second term, in part to boost US economic growth, but also to serve as a counterweight to China’s growing influence in the Pacific.
-
Will Ukraine trade territory for peace?
TODAY'S BIG QUESTION Kyiv’s defences are wearing thin but a land swap is constitutionally impossible and crosses Zelenskyy's red lines
-
Russia tries Ukraine land grab before Trump summit
Speed Read The incursion may be part of Putin's efforts to boost his bargaining position
-
Europe counters Putin ahead of Trump summit
Speed Read President Trump will meet with Russian President Vladimir Putin in Alaska this week for Ukraine peace talks
-
Is Trump's new peacemaking model working in DR Congo?
Talking Point Truce brokered by the US president in June is holding, but foundations of a long-term peace have let to be laid
-
Who wins from a Trump-Putin meeting?
Today's Big Question Trump might get the leaders together for a photo op but brokering a peace deal won’t be easy
-
How China uses 'dark fleets' to circumvent trade sanctions
The Explainer The fleets are used to smuggle goods like oil and fish
-
US and EU reach trade deal
Speed Read Trump's meeting with European Commission President Ursula von der Leyen resulted in a tariff agreement that will avert a transatlantic trade war
-
US and Japan strike trade deal
Speed Read Trump signed what he's calling the 'largest deal ever made'