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Canada and 10 other nations sign TPP as Trump plans U.S. tariffs

Trade ministers from 11 Pacific Rim countries signed a sweeping free trade agreement Thursday to streamline trade and slash tariffs on the same day that U.S. President Donald Trump was expected to formalize new tariffs on aluminum and steel to protect U.S. producers.

Trump withdrew the U.S. from the Trans-Pacific Partnership (TPP) last year, causing fears that it would not prosper without its most influential country. But the remaining 11 members pressed ahead, saying they were showing resolve against protectionism through global trade.

The ministers dropped key provisions that the Americans had required on protection of intellectual property, among others. The renegotiated pact signed in Chile’s capital was also renamed the Comprehensive and Progressive Trans-Pacific Partnership, or CPTPP.

The U.S., originally the biggest TPP economy, was one of the trade deal’s strongest supporters before Trump took office. Trump has said he prefers country-to-country deals and is seeking to renegotiate several major trade agreements, including the North American Free Trade Agreement that includes the U.S., Mexico and Canada.

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