January 13, 2019

#LOSER:

Donald Trump reopens door to TPP participation, Asia reset (Jacob Greber, 13 Jan 2019, AFR)


In the final hours of 2018 Donald Trump signed into law an act that reopens the door to a TPP-style deal in Asia.  CARLOS BARRIA

However, the enacting of a new law is a significant step for the Congress and White House, which have delivered a bold statement of intent that the US is determined to stay engaged across the Indo-Pacific on security and trade.

It represents a major effort to assuage allies' concerns that a US withdrawal would create a power vacuum in favour of a more assertive China.

The so-called Asia Reassurance Initiative Act (ARIA), which Mr Trump ratified without fanfare as one of his final acts on New Year's Eve, includes a call for the US to return to multilateral trade deals, countering the President's own tendency to pursue agreements with individual countries such as Mexico, Canada and Japan.

Responding to questions from The Australian Financial Review, Republican senator for Colorado, Cory Gardner, who spearheaded the law's passage through Congress, described it as an opportunity to "re-engage in trade conversations" including the Trans-Pacific Partnership.

So much for Trumponomics.

Posted by at January 13, 2019 5:51 PM

  

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