Canada Becomes Fifth Country to Ratify TPP
Canada gave notice on Oct. 29 that it had ratified the Trans-Pacific Partnership -- now known as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership -- becoming the fifth of the 11 signatory nations to do so. The agreement --…
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which the U.S. exited just after President Donald Trump took office in January 2017 -- will come into force 60 days after the sixth country ratifies it. "The CPTPP is an excellent illustration of how 11 nations can come together against protectionism by liberalizing trade and strengthening the rules under which it is conducted," Canada's Minister of International Trade Diversification Jim Carr said. The other countries party to the agreement are Australia, Brunei, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam. Besides Canada, Japan, Mexico, New Zealand and Singapore have already ratified it.