Australia Trade Minister Says TPP Is Still Relevant

The transcript discusses the US withdrawal from the TPP under Trump's administration and explores the feasibility and relevance of continuing the TPP without the US. It highlights the benefits of the TPP, especially for small and medium-sized businesses, and addresses the legal challenges of maintaining the agreement without the US. The speaker advocates for a minimalist approach to preserve the gains achieved under the TPP by making minor adjustments to the agreement.

What was Trump's action regarding the TPP on his first day in office?

• He signed an order to withdraw the US from the TPP.

• He signed an order to join the TPP.

• He negotiated new terms for the TPP.

• He postponed the decision on the TPP.

Why is the TPP considered relevant even without the US?

• It focuses solely on large corporations.

• It allows for higher tariffs.

• It includes China as a member.

• It preserves hard-fought gains from negotiations.

What is one of the key benefits of the TPP for businesses?

• Increased trade barriers

• Lower compliance costs

• Limited market access

• Higher taxes

What legal requirement must be addressed to continue the TPP without the US?

• 85% of Member GDP must be represented.

• All members must agree to new tariffs.

• China must be included as a member.

• The US must approve the changes.

What approach is being pursued to maintain the TPP gains?

• Focusing only on large economies

• Excluding all current members

• A minimalist approach with minor text changes

• A complete overhaul of the agreement