Japan launches push to save TPP

From Bangkok Post:

Tokyo had expressed reluctance to have the TPP come into force without Washington amid concern that Japanese exporters, such as automakers, would gain little benefit without the United States, the biggest market in the grouping.

But with free trade perceived to be under threat with the rise of protectionism since the Trump administration took office, calls have been growing in the government for Tokyo's leadership in keeping the momentum for free trade.

On Saturday, Chief Cabinet Secretary Yoshihide Suga indicated Tokyo's readiness to proceed with TPP implementation while ensuring US understanding, saying in an interview with Kyodo News, "We have a feeling that the 11-nation framework should be given weight."

. . .

Under the current rules, TPP implementation requires ratification by nations accounting for 85% of the combined GDP of the 12 member countries. The deal was therefore effectively dead in the wake of the withdrawal of the United States because the country represents over 60% of the trade bloc's GDP.

But Mr Trump, who took office in January pledging to pull the United States out of what he called a "job-killing" free trade pact, has not opposed the remaining 11 nations implementing the TPP.

One proposal to lower the threshold for bringing the pact into force envisions a separate protocol to allow the TPP to be applied to any remaining member that agrees to it, the source said.