Japan cold to China in TPP

Japan is cold to the notion of inviting China to join a pan-Pacific trade pact abandoned by US President Donald Trump, fearing such a step would boost Beijing’s clout and water down what was meant to be the “gold standard” for rules of trade. Nor are government officials eager to begin two-way trade talks with Washington, despite Mr. Trump’s stated preference for bilateral deals as part of his “America First” economic plans, although some said such negotiations could not be ruled out. For now, that has left Prime Minister Shinzo Abe in the unenviable position of pledging yet again to persuade Mr. Trump that the Trans-Pacific Partnership is in the interests of both the United States and the global economy. The new president signed an executive order withdrawing from the TPP on Monday. “The free trade system based on free and fair common rules is the source of growth for the world economy,” Mr. Abe told parliament’s upper house yesterday.

Keep reading