Yonhap News Agency reported on May 21 that Australia, Brunei, Canada, Chile, Japan, Mexico, New Zealand, Malaysia, Peru, Singapore, and Vietnam were participating in the 23rd Asia-Pacific Economic Cooperation (APEC) Trade Ministers’ Meeting in Hanoi, Vietnam on the 21st. The trade ministers of 11 countries issued a joint statement stating that even if the United States withdraws from the TPP, it must still continue to work on establishing cooperative partnerships. This statement is led by Japan, and the 11 countries plan to jointly negotiate and formulate an effective plan before the APEC Leaders’ Summit on November 10 this year, which will specifically involve the possibility of the United States rejoining and new member states joining, and whether to relax the qualifications for joining the TPP. question. The statement stated that the move was intended to deal with trade protectionism and maintain a free and open market, adding that the TTP was open to all new member states.
However, U.S. Trade Representative Robert Lighthizer held a press conference that day and stated that the United States has decided to finally withdraw from the TTP, and its future focus will shift to bilateral negotiations with relevant countries. He said that Asia-Pacific countries will remain one of the most important trading partners of the United States, and the United States will reach a series of bilateral trade agreements in this region in the future.
In addition, countries such as Vietnam and Malaysia, which have joined the TPP with the U.S. market in mind, maintain a negative stance on the entry into force of the 11-nation TPP. Negotiations among the 11 countries are expected to be difficult. The United States decides to finally withdraw from the TPP, and the remaining 11 countries find another way out
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