|Published : 22 Nov 2016, 13:07:05 | Updated : 22 Nov 2016, 13:34:24|
TPP meaningless without US: Abe
Japan's Prime Minister Shinzo Abe said Monday the Trans-Pacific Partnership trade deal would be "meaningless" without US participation, as Donald Trump announced he planned to quit the pact.
Shinzo Abe's comment came shortly before the US president-elect released a short video about his plans for his administration, including an intention to have the United States drop out of the TPP pact.
"I am going to issue a notification of intent to withdraw from the Trans-Pacific Partnership (TPP), a potential disaster for our country," Trump said. "Instead, we will negotiate fair, bilateral trade deals that bring jobs and industry back onto American shores."
Abe spoke after attending a weekend meeting of Asia-Pacific leaders in Peru at which some said they might try to modify the 12-nation TPP pact to make it more appealing to Trump or seek to implement it without the US.
But Abe discounted the idea of going ahead without the Americans being a part of the deal.
"TPP is meaningless without the United States," he said at a news conference during an official visit to Argentina.
He also said the pact couldn't be renegotiated. "This would disturb the fundamental balance of benefits."
As Japan's most powerful leader in a decade, Abe had invested political capital in overcoming strong domestic opposition to the TPP, which Trump has called "a disaster for jobs" in the United States, according to a news agency report.