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Asia urged to ditch US and go ahead with regional trade deal

Global Markets

Asia urged to ditch US and go ahead with regional trade deal

Bloomberg Published on Wed, Mar 08, 2017 / 7:35 AM GMT+8

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HONG KONG (March 8): Asian countries should pursue a Pacific trade pact even after the US walked away, and its standards should be incorporated into other regional deals, according to a report authored by half a dozen former trade envoys.

Donald Trump withdrew from the 12-nation Trans-Pacific Partnership in one of his first acts as US president, throwing an agreement that covered 40% of the global economy into disarray. That’s left the other nations scrambling on what to do: Either try and proceed without the US, hope Trump changes his mind (or Congress does), or prioritize a separate regional deal being championed by China.

The president has attacked trade deals in general and touted an “American First” doctrine that would punish countries whose policies are deemed by the administration to be undermining US jobs. But the rest of the world shouldn’t embrace Trump’s protectionism, the Asia Society Policy Institute report argues.

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Asia urged to ditch US and go ahead with regional trade deal

Global Markets

Asia urged to ditch US and go ahead with regional trade deal

Primary tabs

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Asia urged to ditch US and go ahead with regional trade deal

Global Markets

Asia urged to ditch US and go ahead with regional trade deal

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