…and good for the region, although not as good as it could have been with US involvement.
Japan, Canada, Mexico and eight other Pacific nations [Australia, Brunei, Chile, Malaysia, New Zealand, Peru, Singapore and Vietnam] are set to sign a new version of the Trans-Pacific Partnership, or TPP, on Thursday.
This is a missed opportunity for the United States and a foreign policy mistake by President Donald Trump.
The goal of the pact is to open borders to more trade in the rapidly growing Asia-Pacific region and to set international standards, which many see as crucial to managing the encroaching dominance of China….
That last illustrates why international trade, in all its forms, is more about foreign policy than it is economics. The particular, foreign policy, failure has also weakened our ability to influence the People’s Republic of China, on trade, on the South and East China Seas, on northern Korea.