Newspaper article The Canadian Press

Five Things to Know about the Trans-Pacific Partnership, Rejected by U.S

Newspaper article The Canadian Press

Five Things to Know about the Trans-Pacific Partnership, Rejected by U.S

Article excerpt

The Trans-Pacific Partnership: Five Things

--

OTTAWA - A quick look at the Trans-Pacific Partnership, the deal that President Donald Trump said Monday the United States would not be pursuing:

-- Twelve Pacific Rim countries, including Canada, signed on to the TPP, but the deal faced heavy criticism from all sides, ensuring its road to final ratification would be rocky to say the least.

-- The United States and Japan are the two largest economies in the TPP, and in order to ratify the deal at least six countries comprising 85 per cent of the pact's overall GDP had to approve it. Simple math means that the U.S. withdrawal scuttles the deal.

-- Former U.S. President Barack Obama and Canadian prime minister Stephen Harper were ardent supporters of the TPP. …

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