Asia Urged To Ditch U.S. and Go Ahead With Regional Trade Deal
- Asia Society advocates for TPP pact despite Trump withdrawal
- RCEP nations should avoid ‘lowest common denominator approach’
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Asian countries should pursue a Pacific trade pact even after the U.S. 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 U.S. president, throwing an agreement that covered 40 percent of the global economy into disarray. That’s left the other nations scrambling on what to do: Either try and proceed without the U.S., hope Trump changes his mind (or Congress does), or prioritize a separate regional deal being championed by China.