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What's the RCEP and what does India's exit mean for the trade deal?

India pulled out of the deal saying it wanted to protect service workers and farmers

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(L to R) India's Prime Minister Narendra Modi, Indonesia's President Joko Widodo, and Japan's Prime Minister Shinzo Abe talk before a group photo during the East Asia summit in Nonthaburi, Thailand, Photo: (AP/PTI)

Enda Curran | Bloomberg

3 min read Last Updated : Nov 06 2019 | 6:23 AM IST

When it comes to sweeping global free-trade agreements, President Donald Trump isn’t the only party-pooper. Two years after Trump withdrew the U.S. from a 12-nation deal known as the TPP, Prime Minister Narendra Modi has pulled India out of a 16-nation grouping led by China known as the RCEP. In both cases, protectionism played a part; in both cases, the show goes on.

1. What is the RCEP?

What began in 2012 as a routine harmonizing of agreements between members of the Association of Southeast Asian Nations, or Asean, turned into a deal creating potentially the world’s biggest free trade

Topics : RCEP TPP TPP trade deal Trade deal Asean nations

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