Obama’s Trade Policy is Dead

White House Deputy National Security Adviser Wally Adeyemo on Friday told reporters that Obama will tell TPP member countries at the APEC summit that the United States will remain engaged in Asia, and that it recognizes the benefits of trade and such deals still make sense.

If the United States, the largest economy among TPP participating countries, does not ratify the TPP, the Pacific trade deal can not enter into force. When Trump was campaigning for the presidential office, he made it clear that the TPP is a awful deal, and that he would scrap it if elected as president of the country.

The deal, which President Obama hoped would be part of his legacy, was slammed by President-elect Donald Trump during the election campaign, and Republicans made it clear they wouldn’t consider it during the lame duck session.

“China believes we should set a new and very practical working plan, to positively respond to the expectations of industry, and sustain momentum and establish a free trade area in Asia-Pacific at an early date”, Li said.

The TPP deal, along with the Transatlantic Trade and Investment Partnership (Ttip) deal with the European Union, is one of the cornerstones of President Barack Obama’s agenda but it is unpopular with many Americans. But incumbent lawmakers aren’t giving up, and there’s now a race on to pass the deal before he moves into the White House.

Prime Minister Shinzo Abe’s Liberal Democratic Party brought the vote, supported by junior coalition party Komeito and opposition Nippon Ishin Japan Innovation Party.

“I would expect that the President will have an opportunity to meet with the TPP leaders as a group while he is in Peru”, he said. “The TPP reaffirms what we have long understood-that strengthening copyright is integral to America’s creative community and to facilitating legitimate worldwide commerce”, Chris Dodd, the MPAA chairman, said.

The Obama administration has long argued TPP is essential to shoring up America’s influence in the Asia-Pacific region and providing a boost to American businesses.

Firstly, the TPP would help American exporters by eliminating thousands of tariffs and other trade restrictions with other countries partnered in the TPP agreement.

Mr Ciobo will hold discussions about the future of the agreement at the APEC leaders summit in Lima, Peru on Thursday which will be attended by Mr Turnbull on Sunday.

“The election of a Trump government may in fact speed up the process because they don’t know what Donald Trump initiatives might be coming down after January when he’s sworn in”.

It is impossible for this condition to be met without both the United States and Japan ratifying the deal.

“As we enter a new stage in history, let the movement that stopped the TPP serve as a reminder to the powerful: we are many, and you are few”, she continued.

The deal, created to regulate trade between Australia, the U.S., New Zealand, Canada, Singapore, Vietnam, Malaysia, Japan, Mexico, Peru, Brunei and Chile, was once hailed as the most progressive trade deal in history.