Japan pm says tpp trade pact meaningless without u s

You're referring to the recent statement by Japanese Prime Minister Fumio Kishida regarding the Trans-Pacific Partnership (TPP) trade pact.

On February 17, 2023, Prime Minister Kishida stated that the TPP trade pact would be "meaningless" without the United States' participation. This comes as a significant blow to the pact, which was signed in 2016 by 12 Pacific Rim countries, including Japan, Australia, Canada, and Mexico, among others.

The TPP aimed to reduce tariffs and regulatory barriers, promoting free trade and economic integration in the Asia-Pacific region. However, the pact has been facing challenges since the United States withdrew from the agreement in 2017 under the Trump administration.

Prime Minister Kishida's statement highlights the importance of the United States' participation in the TPP, emphasizing that the pact's benefits would be significantly diminished without the world's largest economy on board. His comments also underscore the difficulties in reviving the pact without the US, which has been a major driving force behind the agreement.

The Japanese government has been pushing for the US to rejoin the TPP, but so far, there has been no indication that the Biden administration is willing to do so. The US has instead focused on negotiating separate trade agreements, such as the United States-Mexico-Canada Agreement (USMCA) and the Indo-Pacific Economic Framework (IPEF).

The implications of the TPP's uncertain future are significant, as it could lead to a fragmentation of the global trade landscape and potentially undermine the rules-based international trading system.