Apologies in advance to our conservative Canadian friends; but the explainer here is regarding America-First trade and economics against the backdrop of the Trans-Pacific Partnership trade deal, Canada and Mexico’s alignment therein, the APEC Summit and rainbow socks.
Australian Prime Minister Malcolm Turnbull and Justin from Canada
Here’s why Canada and Mexico signing up to TPP is great news for the U.S., and couldn’t come at a better time for NAFTA round #5 on November 17th. We don’t want TPP to collapse, because TPP ties the hands of Canada and Mexico to elements of trade that are based on collective interests. Their joining TPP provides the U.S. leverage in NAFTA.
Remember, Vietnam is exactly 12 hours ahead of U.S. Eastern time zone. At 7:450pm last evening in Vietnam (local time), at the last minute, Rainbow Socks backed out of the signing the TPP framework (explained here). Twelve hours later, at 7:20am (local), the AP reported the agreement was “back on” with “a compromise”:
DANANG, Vietnam (AP) — The Latest on the summit of 21 Pacific Rim economies in Vietnam (all times local): 7:20 a.m. – Trade ministers say they have reached a basic agreement on a Pacific Rim trade pact without the United States.
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