Apr 30 (Japan Times) - Canadian and Japanese leaders on Sunday jointly trumpeted a rebooted Pacific trade pact that came into effect at the start of the year, without the United States.
The Trans-Pacific Partnership (or CPTPP) removed trade barriers among 11 nations representing nearly 500 million consumers in the Asia-Pacific region in a bid to counter China’s growing economic influence.
U.S. President Donald Trump withdrew from it in 2017 before it was ratified.
At a joint press conference in Ottawa, visiting Japanese Prime Minister Shinzo Abe and his host, Prime Minister Justin Trudeau, said the pact has “benefitted tremendously†citizens and businesses of member nations, including Canada and Japan.
“Continuing to move forward on freer and more open trade according to the rules that we can all agree on is something that we need more in the world,†Trudeau said.
The CPTPP “stands in stark contrast†to rising protectionism sparked by the United States, he said, noting that Canadian beef exports to Japan have tripled in recent months “while the Americans do not have that kind of access.â€
