TPP Deal Expected This Week

Dan Industry News Release, Trade

tppThe remaining 11 Trans-Pacific Partnership (TPP) countries plan to remove the Gross Domestic Product requirements to allow the deal to move forward without the United States this week.

The Japan News reports that with the United States abandoning the accord, negotiators appear hopeful that changing the conditions will allow the remaining 11 nations to quickly implement a new pact. A final decision is expected to be made at a meeting of ministers scheduled for Wednesday and Thursday in Vietnam.

The trade agreement signed last year by the 11-member nations and the United States would be implemented after it is ratified by six nations that comprise at least 85 percent of the total GDP of the signatory countries. However, because the GDP of the United States made up more than 60 percent of the 12-nation total, there are no prospects for the pact to be implemented in its current form. Negotiators hope to announce a broad agreement Saturday.

From the National Association of Farm Broadcasting News Service.