(Josh Wingrove – Bloomberg)
Canada is hosting a round of exploratory negotiations on the future of the Trans Pacific Partnership after the U.S. bowed out.
Senior trade officials from every remaining signatory country will convene the so-called TPP-minus-one talks in Toronto on Tuesday and Wednesday. While ministers won’t attend, the event is expected to set the stage for an upcoming Asia-Pacific Economic Cooperation summit of trade ministers in Vietnam.
This week’s talks are also the latest sign of Canada looking to pivot in part away from its biggest trading partner – coming amid escalating disputes with President Donald Trump’s administration over the North American Free Trade Agreement, softwood lumber and the dairy sector. Prime Minister Justin Trudeau’s government responded to U.S. lumber duties last week by saying it would in turn try to sell more of its product to Asia. Click here to read more.