Eleven nations signed a slimmed-down version of the Trans-Pacific Partnership (TPP) trade agreement today, moving to lower tariffs just as US President Donald Trump seeks to raise them after withdrawing from the deal.
The foreign ministers of Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam officially created what is now known as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), a market representing half a billion people and 13.5 percent of the global economy.
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