HSBC: What's next after TPPWhile it can’t be ruled out that the Trans-Pacific Partnership (TPP) members might eventually revive the agreement in an alternative configuration, it doesn’t seem probable at this time. The situationOn January 23 2017, President Trump issued a memorandum with instructions for the United States Trade Representative “to withdraw the United States as a signatory to the TPP, to permanently withdraw the United States from TPP negotiations, and to begin pursuing, wherever possible, bilateral trade negotiations to promote American industry, protect American workers, and raise American wages. Regional trade agreements like the Trans-Pacific Partnership offer a good compromise between multilateral and bilateral accords. Without the United States, the TPP regional market is roughly 60 per cent smaller and under such changed conditions it is likely that the remaining TPP countries would find it difficult to justify some of their negotiating concessions. Still, it is possible for trade liberalization to advance under the new US strategic approach anchored in bilateral trade agreements, according to HSBC.

Source: VietNamNet News February 07, 2017 03:45 UTC