Push to save Pacific Rim trade deal after US exits

2017-01-24 10:23
Malcolm Turnbull is sworn in by Australia's governor-general Sir Peter Cosgrove as Australia's 29th prime minister at Government House in Canberra. (AFP)

Malcolm Turnbull is sworn in by Australia's governor-general Sir Peter Cosgrove as Australia's 29th prime minister at Government House in Canberra. (AFP)

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Sydney - Several countries say they hope to salvage the Trans-Pacific Partnership after President Donald Trump's decision on a US withdrawal from the trade pact cast its future in jeopardy.

Australian Prime Minister Malcolm Turnbull acknowledged Trump's move was a blow to the multinational agreement. But he suggested on Tuesday that other nations, such as China, may be able to fill the void left by the US.

Trump used one of his first actions in office to officially abandon the trade deal on Monday, dubbing it a detriment to American businesses.

He favours one-on-one agreements with other nations over multinational pacts.

Leaders of some of the 11 other nations involved in the initiative earlier said they would move forward with the agreement in some form, with or without the US.

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