TPP to Take Effect this Year

Dan Industry News Release, Trade

yearThe Trans-Pacific Partnership (TPP) deal, minus the U.S., will take effect this year after Australia this week became the sixth of the 11 remaining nations to ratify it. The inevitable is happening after President Trump withdrew the U.S. from the Trans-Pacific Partnership soon after taking office—TPP is officially taking effect.

Japan has agreed to bilateral talks with the U.S., offering the same benefits as TPP, but how quickly tariff rates fall is key. Here is former USDA trade adviser in the Bill Clinton Administration, Paul Drazek.

TPP to Take Effect this Year-1

And there’s still the possibility the US could reenter TPP, especially if China fails to resolve trade disputes with Washington. Here is what USDA Secretary Sonny Perdue said back in September.

TPP to Take Effect this Year-2

Source: National Association of Farm Broadcasting News Service.