SYDNEY (AP) – Several countries expressed hope Tuesday that the Trans-Pacific Partnership could be salvaged, after President Donald Trump’s decision on a U.S. withdrawal from the trade pact left its future in serious jeopardy.
Australian Prime Minister Malcolm Turnbull acknowledged Trump’s move was a massive blow to the 12-nation agreement, but suggested other countries, such as China, may help fill the void left by the U.S.
“Losing the United States from the TPP is a big loss, there is no question about that,” Turnbull told reporters. “But we are not about to walk away from our commitment to Australian jobs.”
As expected, Trump used one of his first actions in office to officially abandon the trade deal on Monday, dubbing it a detriment to American businesses. He favors one-on-one agreements with other nations over multinational pacts.
Leaders of some of the 11 other nations involved in the initiative earlier said they would move forward with the agreement in some form, with or without the U.S.