Pacific Rim nations sign trade deal without the US

Source: The Hill | March 8, 2018 | Vicki Needham

Eleven Pacific Rim nations gathered in Chile on Thursday to sign a massive free-trade agreement that the United States abandoned more than a year ago.

The nations, including Canada and Mexico, signed the renamed Comprehensive and Progressive Trans-Pacific Partnership in Santiago after spending the better part of the last year reworking the deal.

The signing comes the same day that President Trump is set to announce tariffs on imports of steel and aluminum, which are expected to exempt Canada and Mexico, U.S. partners in the North American Free Trade Agreement (NAFTA).

The members of the newly signed pact are Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.

The 11 nations say they are seeking to add interested nations into the agreement.

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