have agreed on the new pact, known as the CPTPP, which substantially lowers tariffs on a wide range of goods.
Ever since US President Donald Trump withdrew the US from the TPP in one of his administration’s first acts in January, Japan — the nextbiggest economy in the group — has taken the lead in negotiations.
Seven TPP members are also in talks on another deal, the Regional Comprehensive Economic Partnership. Its 16 members comprise all 10 ASEAN nations as well as China, Japan, India, South Korea, Australia and New Zealand.
Chinese Foreign Ministry official Zhang Jun said in Da Nang on Saturday that the CPTPP would not impact the RCEP’s prospects.
RCEP members held a 20th round of talks last month and their leaders will meet again at the ASEAN summit in Manila on Tuesday.