Turnbull not giving up on TPP

MALCOLM Turnbull remains hopeful the United States can proceed with a Pacific-wide trade pact.

US President Donald Trump withdrew America from the Trans-Pacific Partnership yesterday, using an executive order just three days after his predecessor – and TPP supporter – Barack Obama left the White House.

“We’ve been talking about this for a long time. It’s a great thing for the American worker,” Mr Trump said.

The prime minister said the new US Secretary of State Rex Tillerson was a long-time advocate of the TPP and many Republicans in the Congress were also strong supporters.

“It is possible that US policy could change over time on this, as it has done on other trade deals,” Mr Turnbull said yesterday.

“There is also the opportunity for the TPP to proceed without the United States.”

Asked whether China could be encouraged to join, Mr Turnbull said: “Certainly there is potential for China to join the TPP.”

Mr Turnbull spoke with his Japanese counterpart Shinzo Abe overnight about the future direction of the TPP, which Tokyo has ratified. Both leaders agreed the deal was in the interests of both the Australian and Japanese people.

Trade Minister Steve Ciobo is keen to see if a TPP of 12 nations minus the US can work.

He has already had discussions with Canada, Mexico, Japan, New Zealand, Singapore and Malaysia about working towards an alternative. “It’s a moving space, but it’s an important space, one that we must continue to pursue to give Aussie exporters the best chance to get preferential, global access for Australian exports,” Mr Ciobo said.

The Australian government would keep alive the option of ratifying the TPP even without the US, he said.