Trudeau announces Pacific trade agreement without US

Canadian Prime Minister Justin Trudeau announced on Tuesday that Canada — along with the 10 other remaining countries in the Trans-Pacific Partnership (TPP) — would work toward creating a revised trade agreement.

Trudeau said in a statement that the countries involved — not including the U.S. — finished talks in Tokyo on a "new Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)." 

ADVERTISEMENT

In the statement, Trudeau said that "strengthening Canada’s economic relationship with countries in the large and economically fast-growing Asia-Pacific region to support prosperity and create jobs for our middle class is a priority for Canada."

He said Canada had always said it would agree to a deal that is in Canada's best interests.

"To that end, Canada has been working very hard on the new CPTPP, from spearheading the first meetings of officials in May 2017 to proposing several suspensions and changes to secure better terms for Canadians throughout this burgeoning region," he said in the statement.

He added that Canada has shown it "can and will work hard to set the terms of trade so the middle class can compete and win on the world stage."

According to The Associated Press, those involved are hoping to sign an agreement by early March.

The move comes about a year after Trump signed an executive order announcing his plan to withdraw the U.S. from the TPP trade deal.

After signing the order last year, Trump said leaving the 12-nation pact is a "great thing for the American worker."