The Trans-Pacific Partnership deal – that would have created the world’s largest free-trade zone – is all but dead, now that the Obama administration has given up hope of a last-ditch effort to ratify it amid a rising tide of protectionism.
A former senior adviser to Prime Minister Justin Trudeau is calling on Canada to shift focus and try to negotiate free-trade deals with Japan and other Asian countries.
Departing U.S President Barack Obama had been determined to win an uphill fight to get congressional approval of the deal during the lame-duck session in the final weeks of 2016. That was before Donald Trump, a fierce opponent of the TPP, won the presidential election Nov. 8.
New York Senator Chuck Schumer, soon to be the senior Democrat in the U.S. Senate, told labour leaders this week the Trans-Pacific accord will not be ratified by the U.S. Congress. The Washington Post reported that Mr. Schumer was relaying statements made to him by Republican Congressional leaders in the wake of the Trump victory.
The Canadian government declined to comment on the fate of the TPP Friday, with a spokesman for International Trade Minister Chrystia Freeland saying the Liberals will continue to seek the opinions of Canadians on the deal.
The pact, however, will mean little for the 11 countries that negotiated it without the participation of the largest economy: the United States.
“We made a commitment to consult Canadians on the Trans-Pacific Partnership, and we will abide by that commitment,” Alex Lawrence, press secretary for Ms. Freeland, said in a statement. “The House of Commons trade committee is studying the TPP’s impact, and has not concluded its consultations; we will continue to support this work.”
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