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“While the Committee finds TPP to be in Australia’s national interest, there is much work to do to ensure the public is also convinced.”
“Certainly the United States is a key anchor. We are very keen, though, recognizing that many benefits would flow from this deal, to push ahead.”
The prime minister says U.S. “isn't an island” and “can't just sit there and say it's not going to trade with the rest of the world.”
Some countries – including Japan – have spoken of continuing TPP talks without the U.S., Reuters reports.
The trade minister calls TPP “part of a broad tapestry of different agreements under negotiation.”
Senate Finance Committee Chairman Orrin Hatch (R-UT) this week suggested that limiting the Trans-Pacific Partnership to a bilateral U.S.-Japan free trade agreement could be a way to get President-elect Donald Trump on board.
Senate Finance Committee Chairman Orrin Hatch (R-UT) this week suggested that limiting the Trans-Pacific Partnership to a bilateral U.S.-Japan free trade agreement could be a way to get President-elect Donald Trump on board.
“It is important that we give the new president a chance put his team in place and consider his trade agenda. We will be able to work with America on trade.”
The prime minister still hopes for a revised deal with the Trump administration.
In the Diet, a lower house panel acted “without the participation of the Democratic Party's lawmakers who walked out ahead of the vote.”
The foreign affairs, defense and trade select committee reported the bill back to parliament “against the wishes of Labour and the Greens.”
The Australian Chamber of Commerce and Industry, in its submission to an Australian Senate committee tasked with reviewing the Trans-Pacific Partnership, expressed concern that the United States would demand that Australia take on additional commitments on biologic drugs before the agreement can enter into force for the country – citing precedent in the certification process of the two countries' bilateral free trade agreement.
Ambassadors from Trans-Pacific Partnership countries this week pledged to accelerate their efforts to ensure the agreement is passed during a lame-duck session of Congress and reiterated the importance of the United States to the global trading system and its TPP partners.