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Trade deal Trump trashed gets endorsement from American business group

"TRUMP SAYS U.S. WON'T BE "TAKEN ADVANTAGE OF ANYMORE." HOURS
LATER, PACIFIC RIM NATIONS REACH DEAL ON TRADE WITHOUT AMERICA."

* American business association AmCham Singapore on Friday urged the 11
remaining members of the Trans-Pacific Partnership to finish the deal without the U.S.

* President Donald Trump withdrew the U.S. from the TPP trade agreement shortly after taking office

Leslie Shaffer | @LeslieShaffer1
Published 10:00 PM ET Thu, 24 Aug 2017 CNBC.com


Alkis Konstantinidis | Reuters

[...]

"The TPP is, by far, the best and most strategic trade framework from a business perspective — even without the U.S. government in it — as the high standard elements within it are supportive of U.S. businesses," Steve Okun, chairman of the AmCham Singapore TPP Task Force, said in a Friday statement obtained by CNBC.

[...]

"Not only does this agreement provide duty-free access to the TPP-11 members for nearly all goods and all manufactured goods, it also dramatically opens up opportunities for the flow of services and investment sectors," the AmCham Singapore statement said.

It added that the deal improved intellectual property protections and opened up some government procurement contracts as well as including "unprecedented" environmental and labor protections.
https://www.cnbc.com/2017/08/24/trade-deal-trump-trashed-gets-endorsement-from-american-business-group.html

TPP-11 will go ahead. Just not quite yet.

Canada won’t be rushed into signing revived TPP, Trudeau says in Vietnam

The remaining TPP economies are trying to revive the deal following U.S. President Donald Trump’s decision to withdraw earlier this year.

Prime Minister Justin Trudeau says he will not be pressed into signing an updated version of the Trans-Pacific Partnership agreement if it doesn’t align with Canada’s best interests. (The Canadian Press)

By Andy BlatchfordThe Canadian Press
Wed., Nov. 8, 2017

[...]

But Vietnam is also at the TPP table and it’s an ASEAN member, which sets it up as a key partner in a region where Canada wants to increase its presence.

Vietnam, projected to see economic growth this year of 6.3 per cent, features a sturdy consumer base, an emerging business class and an expanding footprint in supply chains.

Dominic Barton, the global managing partner of consulting giant McKinsey & Co., said in an interview that the rapid changes in Vietnam’s key cities remind him, in some respects, of what Shanghai went through less than two decades ago.
https://www.thestar.com/news/canada/2017/11/08/canada-wont-be-rushed-into-signing-revived-tpp-trudeau-says-in-vietnam.html

There is no doubt in many minds, including mine, that ordinary Americans will suffer as a result of Trump's anti-trade TPP
withdrawal. Some even believe Trump (or someone else) will eventually have to bring the U.S.A. back somehow into it.

Peg, i happened to see some of Trump's ASEAN address, and was struck by, in all his repetitive jibber-jabber of how the U.S.A. had been outmaneuvered (because of all those terrible Presidents who came before me, the most wonderful, best President of all ever times), the fact that he never mentioned that America was among the most trade-restrictive developed countries in the world. If not the most.

The country that imposes the most restrictions on trade might surprise you

Lucinda Shen
Sep 30, 2015, 11:03 PM

There is one country that imposes more protectionist measures than any other.

It isn’t China, Mexico or Japan. It is the US.

[...]


https://www.businessinsider.com.au/the-us-is-the-most-protectionist-nation-2015-9?r=US&IR=T

See also:

Fact check: U.S.-China trade package mostly about symbolism
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