Time is not America’s pig farmers’ friend in pork trade game
Trans-Pacific Partnership gains new name; another country walks out
Cheryl Day, National Hog Farmer
Nov 13, 2017
Canada walked out of the Trans-Pacific Partnership on the last day of negotiations over the weekend. According to a media outlet, the recent debate for the Asia-Pacific deal among the remaining 11 countries was dramatic.
After Canada is a no-show for the signing ceremony, an official summed up the room’s attitude by telling Australia’s ABC News that “the Canadians screwed everybody.”
So, basically, two of the three North America trade partners dared to take a stand. President Donald Trump warned he was going to walk away from TPP and he did. Canada Prime Minister Justin Trudeau says he was not going to be hurried into a trade deal for the sake of agreement.
“I wasn’t going to be rushed into a deal that was not yet in the best interest of Canadians. That is what I’ve been saying at least for a week, and I’ve been saying it around TPP12 for years now, and that position continues to hold,” Trudeau tells CBS Radio-Canada.
So, as it stands 10 countries — Australia, Brunei Darussalam, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam — agreed on core elements of pact newly named “Comprehensive and Progressive Agreement for Trans-Pacific Partnership,” or CPTPP, according to an official statement released Saturday.
The free trade deal will eliminate tariffs on products with a traded total more than $350 billion last year. The CPTPP will take effect 60 days after six of the 11 member countries ratify the deal. While the core elements of the original TPP are included, but shortlist of rules spanning 20 categories was suspended.
In announcing the CPTPP deal on Saturday, Japan's TPP minister Toshimitsu Motegi says the agreement “sends a very strong message to the United States and other countries in the Asia-Pacific region,” reports media outlets.
Meanwhile, President Trump...