Responding to New Developments in CPTPP
In light of President Trump's tariffs imposed globally, countries are negotiating to minimize damage while also seeking new alliances to address the chaotic global trade order. The significance of large regional trade agreements is increasing, as they can help to mitigate the impacts of U.S. protectionist policies and boost trade.
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) has attracted increased attention, especially among members like Mexico, Vietnam, Japan, and Canada, which are heavily impacted by U.S. tariff policies. These countries are emphasizing the importance of jointly defending a rules-based trade system within the CPTPP.
Amid these challenges, CPTPP is also exploring partnerships with other organizations, such as the EU. Taiwan, which applied for CPTPP membership in September 2021, must navigate geopolitical challenges despite its strong economic indicators to secure a place in this agreement.
