03 February 2017
True to his electoral pledge, United States President Donald Trump withdrew America from the Trans-Pacific Partnership (TPP) within days of assuming office. Mr Trump’s action was hardly surprising considering his long-standing opposition to the free trade agreement, which he once described as a “disaster” and the “worst trade deal ever”.
The TPP as originally planned had 12 members that make up 40 per cent of the global gross domestic product (GDP) and one-third of world trade.
For the TPP to come into force, at least six original signatories have to have successfully ratified the agreement. In addition, these six signatories, must together represent 85 per cent of the total GDP of the 12 original signatories.
As the US represents nearly 62 per cent of the TPP’s GDP, Mr Trump’s disavowal of the TPP essentially means that the agreement as it currently stands would die.
Going forward, what are the implications of the US’ withdrawal on the Asia-Pacific region?
… TODAY’s digital correspondent Ben Ho speaks to three experts on international affairs: Assistant Professor Chong Ja Ian, who is with the National University of Singapore’s Political Science Department; Dr Deborah Elms, the executive director of the Singapore-based Asian Trade Centre; and Mr Aedan Mordecai, a senior analyst at the S. Rajaratnam School of International Studies.
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Last updated on 03/02/2017