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Trade After the Trans-Pacific Partnership

Posted April 04, 2017

Under Economic Issues, International Trade Issues

(Heraldo Muñoz via New York Times)

In mid-March, ministers and high-level representatives from nations that have signed on to the Trans-Pacific Partnership, as well as China, Colombia and South Korea, met for the first time since the Trump administration withdrew from the trade accord. The signal from Viña del Mar, Chile, where the meeting took place, was clear: Multilateral trade and Pacific integration are alive and kicking.

The meeting, hosted by Chile as president pro tempore of the Pacific Alliance trade bloc (Chile, Colombia, Mexico and Peru), was a needed symbol of stability in increasingly uncertain seas. Protectionism, nationalism and populism are sadly on the rise worldwide. Indeed, multilateralism and the very concept of economic collective security are being challenged. The fears that drive retrenchment on trade must be reckoned with. Social and economic inequities resulting from trade are real.

The countries in the Pacific Alliance will continue to work with the United States on a bilateral basis, but the Asia-Pacific region is ready to lead the new age of globalization in the 21st century by continuing the pluralistic approach to trade envisioned in the TPP, even though the accord no longer exists as we knew it. Click here to read more.

Related: Charting a Course for Trade and Economic Integration in the Asia-Pacific (Asia Society)