Japan is ready to relaunch the Trans-Pacific Partnership minus the US in a shift of position that could bring the huge trade deal back from the dead.
According to trade officials, Tokyo is ready to proceed without much change to the existing TPP text. Previously, it had been reluctant to expose Japanese farmers to a surge of agricultural imports without offsetting ease of access to the US car market.
The decision could be a huge boon to non-US food exporters such as Australia and could shift the dynamics for trade deals in Asia by offering an alternative to the China-centred Regional Comprehensive Economic Partnership.
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