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emfizz.com November 23, 2017


Japan's Abe says Canada differs on TPP 11 deal

11 November 2017, 01:04 | Terri Saunders

President Tran Dai Quang receives Canadian Prime Minister Justin Trudeau. Font Size

President Tran Dai Quang receives Canadian Prime Minister Justin Trudeau. Font Size

Canada and the 10 other Trans-Pacific Partnership countries reached an agreement on Friday on "core elements" of the free trade pact, pledging to adhere to strict labour and environment standards, hours after the talks almost collapsed earlier in the day.

Meetings over the TPP, ditched by US President Donald Trump in one of his first acts in office, have been held on the sidelines of Asia Pacific Economic Cooperation (Apec) meetings in the Vietnamese resort of Danang.

However, there is more work to be done before a final agreement in principle is ironed out as 11 Pacific nations seek to salvage a trade deal, which almost sank after President Donald Trump bailed the United States out of the original 12-nation accord, covering 40 per cent of the world's economy.

There was no immediate word on Canada's stance.

Instead they found Japan's Prime Minister, Shinzo Abe, holding crisis meetings with Canada's Justin Trudeau over an undisclosed issue.

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The final statement said a "limited set of provisions" from the original deal would be suspended, adding further technical work was needed on four areas that still needed consensus "to prepare finalised text for signature".

The dramas over Canada are not related to the freaky events of last night in which the TPP deal was declared done by trade ministers, including Canada's Trade Minister, but Vietnam then objected to a particular issue.

It did not say when that might happen.

It has been reported the no-show was a scheduling misunderstanding. According to Canadian media, a spokesperson for Trudeau said that the 11 nations had "made progress" but "outstanding issues" remain.

As well as the cuts to tariffs, the TPP agreement has provisions for protecting the environment, workers' rights and intellectual property - one of the major sticking points after the departure of the United States.



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