New Zealand leader explains what it will take for a massive Pacific trade deal to still happen

by Dramelin 9:30 PM 0 comments

The idea of a giant Pacific trade deal isn`t dead yet, even if the United States has turned its back on an agreement.
Members of an 11-nation Pacific trade deal are waiting on Canada to finalize a new pact, the head of New Zealand`s government told CNBC on Friday.
President Donald Trump exited the ambitious Trans-Pacific Partnership (TPP) almost immediately after his inauguration in January.
But the other original participants have pushed forward without the U.
"There`s enough motivation for what is now the comprehensive Pacific trade deal, but it will be really a matter of wait and see as to when and where we see that resolution from the likes of Canada," New Zealand Prime Minister Jacinda Ardern said.
Throwing a last-minute surprise at member countries last month, Canadian Prime Minister Justin Trudeau declared more work was needed on the pact — formerly known as the Trans Pacific Partnership — amid concerns about what it would mean for Canadian jobs.
Trudeau`s no-show at a meeting of TPP members in Vietnam last month burst rising hopes for a deal, with many analysts blaming Ottawa for throwing the pact`s future into doubt.
Ardern, who described the current negotiating process as a "bumpy period," was previously criticized herself for slowing TPP discussions.