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
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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.