Is the possibility of US rejoining the TPP the driver? Will this mean a softer Nikkei stick index?
The U.S. and Japan have been at odds over the future of the Trans-Pacific Partnership, or TPP, a regional trade bloc to fend off Chinese competition that the U.S. has abandoned and Japan now champions.
Former President Donald Trump pulled the U.S. from the TPP shortly after taking office in 2017, saying it undermined U.S. independence and hurt American workers.
Biden administration officials have made clear the U.S. wouldn't return to the pact anytime soon as they undertake a comprehensive review of the trade policies they inherited from Mr. Trump and focus on strengthening the domestic economy.
Japan, a loyal ally of the U.S. on security issues, has been pushing for the U.S. to rejoin the TPP .
Submitted April 19, 2021 at 04:31AM by zeroIsAllorNothing https://ift.tt/3twicUy
