Trump vows to withdraw from TPP within first 100 days of presidency

“It (the pact) just continues in a state of not being in effect”, said Shinpei Sasaki of the Cabinet Office’s TPP headquarters.

Leaders of 21 Asia-Pacific nations ended their annual summit Sunday with a call to resist protectionism amid signs of increased free-trade skepticism, highlighted by the victory of Donald Trump in the USA presidential election. He also declared his plans to rule out the Trans-Pacific Partnership (TPP), the world’s largest trade deal. Some Chinese experts have commented that the TPP has been designed specifically to contain China’s growth. This does not mean that the worldwide trade negotiations will remain quiet. India and Pakistan are also due to join SCO soon.

Notably missing from his policy points were the building of a wall along the U.S. -Mexico border, placing new restrictions on immigration from some majority Muslim countries, establishing a “deportation force”, and repealing Obamacare – points Trump repeated throughout his campaign.

On Tuesday, Peru announced it had signed a memorandum of understanding with China to work on an update of their 6-year-old bilateral free trade deal, which now excludes textile and garment sectors.

It comes as a big blow for pro-TPP leaders such as Japan’s Prime Minister Shinzo Abe, who were attempting to salvage the deal at last week’s Asia-Pacific Economic Cooperation, APEC meetings in Lima, Peru. This step would create “many millions of high-paying jobs”, he said.

“Over the years, China and ASEAN as well as other interested parties have been actively promoting the RCEP negotiations“, foreign ministry spokesperson Geng Shuang said in a regular press briefing when asked about the implications of Trump’s announcement on China.

The spokesperson said that Singapore respects the position of the incoming U.S. administration.

China, of course, is not a signatory to the agreement, and has been pushing an alternative plan called the Regional Comprehensive Economic Partnership.

The analysis, conducted by the Office of the Chief Economist at Global Affairs Canada, assessed the impact of the TPP on Canada and other countries that tentatively signed on to the trade deal in October 2015.