Canadian Manufacturing

Japan ratifies TPP despite Trump’s pledge to reject it

The measures required by the TPP are seen as a way for Japan's Prime Minister to enact reforms of the the country's agricultural and health sectors



TOKYO—Japanese Prime Minister Shinzo Abe has won parliamentary approval for ratification of the Trans-Pacific Partnership, despite U.S. President-elect Donald Trump’s plan to withdraw from the 12-nation trade pact.

Upper house lawmakers approved the TPP on Friday, heeding Abe’s calls to push ahead with it despite Trump’s rejection of the free-trade initiative championed by President Barack Obama.

Japan’s ratification still requires Cabinet approval of needed regulatory revisions.

The market opening measures required by the trade pact are seen as a way for Abe to push through difficult reforms of the agricultural and health sectors. So far, Abe has made scant progress on a slew of reforms he proposed to help improve Japan’s lagging productivity and competitiveness.

Trump has vowed to take steps to exit the pact right after he takes office.

Related Posts from the network