(Bloomberg View | Chicago Tribune)
Republican and Democratic leaders in the U.S. Congress seem willing to let the Trans-Pacific Partnership trade deal languish, and if anything’s certain about President-elect Donald Trump, he won’t push for it once in office. But even if the U.S. isn’t smart enough to share in the benefits, the pact is worth saving. The 11 other signatories should implement it on their own.
That might not be easy, admittedly. The other governments made concessions in the talks to gain greater access to the U.S. market. Vietnam said it would allow independent trade unions, for instance, and Japan agreed to liberalize its agricultural markets. Japan’s government seems to be hoping that Trump will change his mind before the deadline for ratifying the deal comes round in February 2018, but there’s no sign of a Plan B in case he doesn’t.
Japan and the other partners need to see that a TPP without the U.S. is still a lot better for them than none. Click here to read more.