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A2 UP FRONT
Friday 9 March 2018
11 nations sign Pacific trade pact as Trump plans US tariffs

per without its most influen- a news conference after States' ability to shape the
tial country. But the remain- the signing of the deal.The rules of trade in the Asia-
ing 11 members pressed pact that covers 500 million Pacific region "is very much
ahead, saying they were people includes Austra- diminished."
showing resolve against lia, Brunei, Canada, Chile, The U.S., originally the big-
protectionism through Japan, Malaysia, Mexico, gest TPP economy, was
global trade. New Zealand, Peru, Singa- one of the trade deal’s
The ministers dropped key pore and Vietnam, which strongest supporters be-
provisions that the Ameri- together account for 13 fore Trump took office.
cans had required on pro- percent of the global econ- Trump has said he prefers
tection of intellectual prop- omy. Its success highlights country-to-country deals
erty, among others. The the isolation of the U.S. un- and is seeking to renego-
renegotiated pact signed der Trump's protectionist tiate several major trade
Dignitaries pose for pictures after the signing ceremony of the
Comprehensive and Progressive Agreement for Trans-Pacific in Chile's capital was also rhetoric on trade and his agreements, including the
Partnership, CP TPP, in Santiago, Chile, Thursday, March 8, 2018. renamed the Compre- "America first" philosophy. North American Free Trade
(AP Photo/Esteban Felix) hensive and Progressive "It leaves the U.S. at a dis- Agreement that includes
Trans-Pacific Partnership, or advantage from both a the U.S., Mexico and Can-
By EVA VERGARA just hours before President CPTPP. trade and a broader strate- ada.
LUIS ANDRES HENAO Donald Trump announced "Despite the diverse and gic perspective," said Josh- This is “a strong sign against
Associated Press his plans to impose new tar- difficult challenges, the ua Meltzer, senior fellow in the protectionist pressures,
SANTIAGO, Chile (AP) — iffs on aluminum and steel CPTPP is a historic achieve- the global economy and and in favor of a world
Trade ministers from 11 Pa- to protect U.S. producers. ment that creates free development program at open to free trade, without
cific Rim countries signed a Trump withdrew the U.S. and fair 21st century rules the Brookings Institution. "It unilateral sanctions and
sweeping free trade agree- from the Trans-Pacific Part- in the Asia-Pacific region," is now a trade bloc that dis- the threat of trade wars,”
ment Thursday to stream- nership last year, causing Japanese Economy Minis- criminates against the U.S." Chilean Foreign Minister
line trade and slash tariffs fears that it would not pros- ter Toshimitsu Motegi said Meltzer said the United Heraldo Munoz said.q

Trump announces stiff trade

tariffs, unswayed by warnings

Continued from Front "We're going to be very fair,
As he has indicated previ- we're going to be very flex-
ously, Trump said he would ible but we're going to pro-
levy tariffs of 25 percent tect the American worker
on imported steel and 10 as I said I would do in my
percent on aluminum. But campaign," Trump said.
he said during a Cabinet People briefed on the plans
meeting earlier in the day ahead of the announce-
that the penalties would ment said all countries af-
"have a right to go up or fected by the tariffs would
down depending on the be invited to negotiate
country and I'll have a right with the administration to
to drop out countries or be exempted from the tar-
add countries. I just want iffs if they can address the
fairness." threat their exports pose to
Business leaders, mean- U.S. manufacturers. The ex-
while, have continued to emptions for Canada and
sound the alarm about the Mexico could be ended if
potential economic fallout talks to renegotiate NAFTA
from tariffs, with the presi- stall. The process of an-
dent and CEO of the U.S. nouncing the penalties
Chamber of Commerce has been the subject of an
raising the specter of a intense debate and cha-
global trade war. That sce- otic exchanges within the
nario, Tom Donohue said, White House, pitting hard-
would endanger the eco- liners against free trade
nomic momentum from the advocates such as outgo-
GOP tax cuts and Trump's ing economic adviser Gary
rollback of regulations. Cohn. The fight over tariffs
"We urge the administra- comes amid intense turmoil
tion to take this risk serious- in the West Wing, which
ly," Donohue said. has seen waves of depar-
The president suggested in tures and negative news
the meeting with his Cabi- stories that have left Trump
net that Australia and "oth- increasingly isolated in the
er countries" might also be Oval Office, according to
spared, a shift that could two senior officials speak-
soften the international ing on the condition of an-
blow amid threats of retali- onymity to discuss internal
ation by trading partners. discussions.q