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World

Chile Pacific Trade Meeting Seeks New Path After Failed TPP

Chile's Foreign Minister said the Asia-Pacific meeting will be an opportunity to send a strong signal for free trade and against protectionism

Chile's Foreign Affairs Minister Heraldo Munoz (L) talks with Mexico's Foreign Relations Secretary Luis Videgaray prior a meeting with representatives from the Trans-Pacific Partnership in Viña del Mar, Chile, Tuesday,March 14, 2017, Photo: AP/Esteban Félix
3 months ago

VIÑA DEL MAR, Chile – Representatives from countries that signed the failed Trans-Pacific Partnership (TPP) met in Chile on Tuesday to discuss a possible new regional trade deal.

Senior officials from the 12 countries of the TPP, plus China, Colombia and South Korea, were meeting in the seaside resort city of Viña del Mar. It’s the first time the nations have met since U.S. President Donald Trump withdrew from the deal.

Chile’s Foreign Minister Heraldo Muñoz said the Asia-Pacific meeting will be an opportunity to send a strong signal for free trade and against protectionism. But he warned the talks in Chile were just a first step and might not yield a new trade pact.

The TPP was a centerpiece of U.S. economic policy in Asia during the administration of President Barack Obama. Trump has said he prefers bilateral deals. The White House has said the president plans to focus on seeking individual deals with the 11 other nations in the failed partnership, a group representing roughly 13.5 percent of the global economy, according to the World Bank.

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