China Steps in TPP Following Withdrawal of the US
March 15 , 2017
As per reports, the withdrawal of the US under President Trump from the Trans-Pacific Partnership also known as TPP in January has created a window of opportunity to China to step in. Obama led TPP was labeled as a bad trade by Trump who claimed that this would cost American jobs.
The TPP trade talks, taking place in Chile, is attended by leaders of several countries who are part of the partnership and China which is a new entrant deviating from the original plan. The absence of the US from the two-day event has not deterred the countries from going forward with the trade pact which was hinted earlier by some leaders.
China is also working on its own RCEP, a trade deal involving some of the TPP countries, however, the Latin American countries are currently not a part of it.