TPP minus US starting to gain ground

Trade Minister Todd McClay

The Japanese government is picking up the pace on reviving the Trans-Pacific Partnership trade and investment deal, with talks scheduled next month among the 11 countries left in the pact after the withdrawal by the US after the election of president Donald Trump.

The move has sparked alarm among anti-TPP activists, who believed the agreement between 12 Asia-Pacific economies would be abandoned once the US had left it.

Trade ministers, including New Zealand's Todd McClay, are due to meet in Hanoi on the sidelines of an APEC trade ministers' summit on May 21 and 22, and trade officials are scheduled to meet on the TPP-11 project in Canada on May 2 and 3 to try and map out a process for reviving the deal, according to international media reports.

The Nikkei Asian Review reported Japan's deputy prime minister, Taro Aso, as saying the remaining participants would "begin talks on implementing the deal in May" during a speech in New York.

Auckland University law professor and a leading campaigner against the TPP, Jane Kelsey, warned in a statement that "if Todd McClay commits New Zealand to this path, he will guarantee that the TPPA becomes an election issue".

A key issue, if TPP is to be resuscitated without US involvement, will be the likely push by many signatories to renegotiate elements of the original pact that were inserted as a result of US demands.

The 11 remaining signatories are Japan, Australia, New Zealand, Chile, Brunei, Vietnam, Singapore, Canada, Mexico, Malaysia and Peru.


5 · Got a question about this story? Leave it in Comments & Questions below.

This article is tagged with the following keywords. Find out more about MyNBR Tags

Post Comment

5 Comments & Questions

Commenter icon key: Subscriber Verified

Looking at a dead cat bounce, not upturn
World trade, less USA - next Tui billboard

  • 0
  • 1

Nothing to see here move along
Its a lose at election time & the travel $ will pay for homeless motels

  • 0
  • 1

How do you pay for homeless motels???? We are any export-focused economy, perhaps you should consider a move to the US

  • 0
  • 0

I understood Jane Kelsey's major TPPA concerns were the US-instigated demands on IT, pharmaceuticals, and intellectual property. These can now be re-negotiated without US involvement. That Kelsey is still opposed to any form of TPPA simply exposes her as the rabid socialist and anti-capitalist she obviously is.

  • 1
  • 0

I think New Zealand should have a far stronger and coherent China policy. We should introduce Chinese language, culture and society as a mandatory subject in schools, within secondary school and tertiary education business and management courses. If the United States under its current deranged leader is going to turn protectionist, then it is fortunate that we now live in a multipolar world. And if the Member for Northland cannot see that New Zealand's most significant markets are now in East Asia, then perhaps he needs to retire.

  • 0
  • 0

Post New comment or question

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.

NZ Market Snapshot


Sym Price Change
USD 0.7200 0.0022 0.31%
AUD 0.9167 0.0068 0.75%
EUR 0.6102 0.0027 0.44%
GBP 0.5432 0.0030 0.56%
HKD 5.6206 0.0173 0.31%
JPY 80.7510 0.4670 0.58%


Commodity Price Change Time
Gold Index 1303.4 10.110 2017-10-13T00:
Oil Brent 57.0 0.900 2017-10-13T00:
Oil Nymex 51.7 0.830 2017-10-13T00:
Silver Index 17.4 0.145 2017-10-13T00:


Symbol Open High Last %
NZX 50 8068.1 8096.5 8068.1 0.26%
NASDAQ 6622.6 6632.5 6605.8 0.28%
DAX 12995.1 13036.7 12982.9 0.07%
DJI 22892.9 22960.1 22871.7 0.37%
FTSE 7556.2 7556.2 7556.2 -0.28%
HKSE 28423.7 28492.4 28459.0 0.06%
NI225 20959.7 21211.3 20954.7 0.96%
ASX 5794.5 5825.2 5794.5 0.34%