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Japan ratifies Pacific trade pact that Donald Trump plans to dump

Japan's ratification still requires Cabinet approval of needed regulatory revisions

Donald Trump, Trump

Donald Trump

APPTI Tokyo
Japanese Prime Minister Shinzo Abe has won parliamentary approval for ratification of the Trans-Pacific Partnership, despite US President-elect Donald Trump's plan to withdraw from the 12-nation trade pact.

Upper house lawmakers approved the TPP today, heeding Abe's calls to push ahead with it despite Trump's rejection of the free-trade initiative championed by President Barack Obama.

Japan's ratification still requires Cabinet approval of needed regulatory revisions.

The market opening measures required by the trade pact are seen as a way for Abe to push through difficult reforms of the agricultural and health sectors.

So far, Abe has made scant progress on a slew of reforms he proposed to help improve Japan's lagging productivity and competitiveness.
 
Trump has vowed to take steps to exit the pact right after he takes office.

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First Published: Dec 09 2016 | 1:25 PM IST

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