The first six countries to ratify the agreement were Canada, Australia, Japan, Mexico, New Zealand and Singapore. On 14 January 2019, the CPTPP entered into force for Vietnam. The other countries (Brunei, Chile, Malaysia and Peru) have yet to be ratified. President Donald Trump has made abandoning the Trans-Pacific Partnership (TPP) trade agreement one of the most important elements of his 2016 election campaign. During his first day in office, he kept his promise to withdraw the United States from the agreement. China remains a package of economic strength. I recently gave a lecture in Shanghai to ask China to accelerate the RMB towards international currency status. Since my intervention, the authorities have taken constructive measures, opened the bond market, disclosed gold reserves, etc. The AIIB will be an important source of infrastructure funding for the whole of Asia. 4.- Counterintuitive, the fact that the United States is not among the signatory nations of the agreement is a plus potential for Mexican participation in the Trans-Pacific Partnership. On the one hand, Mexico still has duty-free access to the U.S. market, but does not need to compete with the U.S. to sell into the economies of the 11 nations that have ratified the treaty.

The patent agreement would have reduced the availability of cheap generic drugs. It could have taken time for a lot of medications. Competitive pressure from companies would have reduced incentives in Asia for environmental protection. Last but not least, the trade agreement could have replaced the financial rules. 3. Many of the benefits found in the TPP were based on U.S. participation. Although the Trans-Pacific Partnership, with its 12 members, covered 40% of the total value of the global export market, nearly 30% of the potential economic benefits of the TPP have focused on the United States. There will still be imports and exports among all participating nations, even after the Trump administration pulls out, but the benefits will not have the same exclusion from tariffs or the benefits of free trade.

This means that the agreement was above all quite one-sided, giving the US greater control over economic standards that do not exist in other countries. I think consumer interest in better access to imported dairy products and imported cars is strong. But I would be very happy if we joined other countries in opposing increasing intellectual property protection. History teaches us that the freest trade does not necessarily guarantee maximum growth in the world economy. It also tells us that the introduction of the WTO regime and various other initiatives to further liberalize the global economy, including the TPP, have, at best, had a marginal impact on global economic growth. In this regard, the dumping of Trump`s TPP and his revisions to other trade agreements would not have significant negative effects on the global economy. The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) entered into force on 30 December 2018. The agreement will have a considerable influence on trade between its contracting parties that ratify it – currently Australia, Canada, Japan, Mexico, New Zealand, Singapore and Vietnam (with Brunei Darussalam, Chile, Malaysia and Peru in the future) – and beyond. . .