On Dec. 31, Australia, Brunei, Canada, Chili, Malaysia, Mexico, Japan, New Zealand, Peru, Singapore and Vietnam, together totaling 500 million inhabitants, formed the Comprehensive and Progressive Agreement for Trans-Pacific Partnership. These countries represent a global gross domestic product of $10 billion as well as $5 billion in trade. Without making much noise, and without informing the United States’ president of their final decision, these countries have opened trade among themselves, which can be interpreted as a challenge to U.S. protectionism. The trade deal had been in process since February 2016. When the U.S. withdrew, the agreement passed through a moment of crisis, but now it has gone into effect and is open to all who wish to join, including the U.S.
About this publication