Trade deal cleared for launch

A massive trans-Pacific trade deal cleared a final hurdle on Wednesday allowing it to enter into force this year, a pointed rebuke of President Donald Trump’s protectionist policies from some of America’s closest allies.

Hours before an administrative deadline, Australian Prime Minister Scott Morrison announced that his government had ratified the 11-country pact, meaning a quorum of more than half the members have formally signed on.

“Australia is the sixth country to ratify the agreement, meaning it can now enter into force on 30 December this year,” said centre-right leader Morrison.

Other signatories include G7 economies Japan and Canada.

The so-called Trans-Pacific Partnership had a difficult birth and appeared to be foundering when Trump withdrew the US shortly after coming to office.

That turned out to be the opening salvo in Trump’s winner-takes-all, “America first” and threat-heavy approach to trade relations.

Frantic behind-the-scenes, Japanese-led diplomacy kept a slimmed-down version of the pact alive among the remaining members – in the hope that Washington will have a change of heart.

Even without the participation of the world’s largest economy, the deal has been described as a game changer.