Online Broadband Guide
Online Broadband Guide

Pacific trade pact aims to boost exports

Pacific trade pact aims to boost exports

"A quarter of our exports go to the countries of the TPP 11, including Japan, Canada, Mexico, Malaysia, Singapore, and others".

Abe has painted the deal as a spur to growth and reform in Japan and a symbol of commitment to free and multilateral trade at a time when Trump stresses "America First" policies.

Canadian Prime Minister Justin Trudeau says Canada and the remaining 11 countries of the Trans-Pacific Partnership have agreed to a revised trade agreement.

The U.S. pulled out of the deal a year ago, with the remaining 11 members expected to sign the agreement by early March.

Australia's opposition Labor party said the new pact had lost its shine since the USA withdrawal and the government had failed to specify how the country would benefit from it.

"I think the TPP has become a symbol of open markets, against the Trump unilateralism, but if you actually look at what is in the TPP it does reinforce monopolies which are the opposite of open markets", she said.

But a major labour union and a group representing auto parts manufacturers said the deal would cause job losses.

Talks had previously stalled over issues such as intellectual property rights and Canada's insistence on protection for its cultural industries. Investor-state dispute mechanisms allow corporations to challenge environmental regulations and could put a chill on governments trying to fight climate change.

Following agreement in the Tokyo talks, Lawrence MacAulay, Canada's minister of agriculture and agri-food and François-Philippe Champagne, its minister of worldwide trade, said in a joint statement: "Reaching this milestone on the CPTPP is great news for Canadian farmers and food processors as it will help grow the Canadian economy, including the middle class, and deliver prosperity to rural communities across the country".

And in Vietnam, a deal was expected to be reached but Trudeau shied away at the last minute.

It appears that the auto sector provisions run contrary to the American protectionist position of higher tariffs and less foreign product and that could make the NAFTA auto sector talks more problematic.



editors' picks

January 22, 2018
Tennessee Titans announce Mike Vrabel as next head coach
He is only seven years removed from his final season with Kansas City and final year in the National Football League as a player. Robinson said it was "paramount" that he and the new head coach be aligned in everything involving the Titans organization.

January 22, 2018
China says United States warship violated sovereignty near Scarborough
Beijing considers any United States patrols within 12 nautical miles of the islands as an intrusion into its territorial waters. She said such operations are 'not about any one country, nor are they about making political statements'.

January 21, 2018
Australian Open: Angelique Kerber beats Maria Sharapova in straight sets
Kerber, who had a shocking 2017, looked at her best for some time as she polished off Sharapova in 64 minutes. That was in contract to Halep's 4-6, 6-4, 15-13 win in 3 hours and 45 minutes over American Lauren Davis.

January 21, 2018
Nintendo Reveals Labo Build-It-Yourself Kit Experiences For The Nintendo Switch
Nintendo is calling cardboard devices Toy-Con, which is a play on the Nintendo Switch's controllers, which are called Joy-Con. The result is nearly $1.4 billion in value added to the market capitalization of Nintendo stocks and a new seven-week high.

January 20, 2018
Facebook selfie helps Canadian Police to crack a murder case
But investigators concluded Antoine knew her friend was not home safe, because she had strangled her to death outside of town. Could this imply a level of premeditation to the murder? Indeed, it was Facebook that helped them crack the case.

January 20, 2018
Bare-chested Putin takes dip in icy lake for Epiphany
Epiphany, which is celebrated on January 19, is one of the most important holidays in the Russian Orthodox tradition. That region holds the title of the world's coldest permanently occupied village, where even eyelashes freeze .

January 19, 2018
Russians to Get 'Neutral' Gray, Red Uniforms for Olympics
He then provided information which led to an investigation of doping at Sochi. Thirty-nine of the cases are due to be heard next week.

January 19, 2018
US Strategic Shift in Syria Turns Focus to Iran From ISIS
US Secretary of State Rex Tillerson mentioned the five main goals of the US to be achieved in Syria , Interfax reports. How the USA can achieve that without directly confronting either Assad or his Iranian allies remains unclear.

January 18, 2018
Joe Castiglione | New CFP Selection Committee Member
Boivin, an IL graduate, worked as a columnist at the Los Angeles Daily News and Arizona Republic for more than 20 years. Stricklin will serve a three-year term on the committee, which decides the four teams who will compete in the playoff.

January 16, 2018
Catherine Deneuve Pens Apology After Criticizing #MeToo Movement
In her defense, she stated that the original letter in no way condoned harassment, "otherwise I wouldn't have signed it". She also defended her feminist credentials, noting that she publicly backed legalizing abortion in France.