The remaining 11 countries are to sign a renegotiated deal Thursday. U.S. companies will suffer.
When President Trump announced the U.S. would pull out of the Trans-Pacific Partnership in January 2017, he likely thought he’d consigned the proposed trade pact to history’s dustbin. After all, America was by far the largest and most influential country set to participate.
But TPP lives on. Its survival illustrates how the Trump administration’s “America First” trade policies are isolating the U.S. and how other potential miscalculations—especially terminating the North American Free Trade Agreement—would further distance American businesses and workers from vital global opportunities.
On Thursday the 11 remaining countries will sign a renegotiated version of TPP. Now called the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, or TPP-11, the agreement creates a free-trade area comprising half a billion people and one-seventh of the global economy.
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