RCEP makes US, and India rethink joining trade deals

India has been allowed to join the RCEP anytime and in the meantime participate in meetings as 'observer'

Last week, after eight years of negotiations, 10 countries of the ASEAN (Association of South East Asian Nations) plus China, Japan, South Korea, Australia, and New Zealand signed the Regional Comprehensive Economic Partnership (RCEP) Agreement to eliminate tariffs progressively over a period of 20 years. This could cause a rethink on the part of India on joining the RCEP and on the part of the US to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
 

The countries participating in the RCEP already have several bilateral trade agreements. The RCEP aims to replace the bilateral deals with uniformity in