The Trans-Pacific Partnership Enters Into Force without USA on December 30
With Australia’s ratification of the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) trade agreement, the agreement between 11 countries will go into effect at the end of December. Current signatories include Japan, Australia, New Zealand, Singapore, Mexico, and Canada, while Brunei, Chile, Peru, Vietnam, and Malaysia were a part of the negotiations but have not yet ratified the agreement. Japan, currently the largest economy in the agreement after the US removed itself, has expressed interest in expanding the agreement to new countries, including the United Kingdom following its separation from the EU. The agreement currently represents around 16% of global economic output and 500 million people.