Japan ratifies Pacific trade pact that Trump plans to dump

2016-12-09 12:01
Japanese Prime Minister Shinzo Abe answers questions during a short press interview at his official residence in Tokyo (Kazuhiro Nogi, AFP)

Japanese Prime Minister Shinzo Abe answers questions during a short press interview at his official residence in Tokyo (Kazuhiro Nogi, AFP)

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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 on Friday, 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.

Read more on:    shinzo abe  |  donald trump  |  japan  |  us

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