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World reacts to U.S.' TPP pullout

Tuesday, January 24, 2017 - 01:27

Germany says it sees opportunities after President Trump withdrew the U.S. from the Asia-Pacific trade pact. Asian nations, meanwhile, are trying to save it. Fred Katayama reports.

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President Trump's move to withdraw the U.S. from the Asia Pacific trade deal known as TPP has Germany smelling opportunities, and Asia looking for ways to save the pact. German Vice Chancellor and Economy Minister Sigmar Gabriel: SOUNDBITE: SIGMAR GABRIEL, VICE CHANCELLOR, GERMANY, (GERMAN) SAYING: "When one door closes, and he's closing doors, another opens somewhere else. I am sure about this." Australian Prime Minister Malcolm Turnbull discussed TPP's fate with several Asian leaders, including Japanese Prime Minister Shinzo Abe. Turnbull said it could be possible for China to join the trade pact. In Beijing, China's foreign ministry spokeswoman didn't say whether China would want to join, but said the region should make its own contributions to growth with openness. China has been trying to position itself as a free trade champion. It's pushing its own pact, the Regional Comprehensive Economic Partnership. Senior fellow James Nolt of the World Policy Institute. SOUNDBITE: JAMES NOLT, SENIOR FELLOW, WORLD POLICY INSTITUTE, (ENGLISH) SAYING: "Some of the smaller countries might be willing to go on with a TPP minus one, as people have said. But I think the assession of China in a full sense is very unlikely because the rules are too difficult for China to observe." Mexico's president said he'll seek bilateral deals with TPP members. Mexico would be hit hard if Trump carries out his pledge to renegotiate its NAFTA trade deal with the U.S. and Canada.

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World reacts to U.S.' TPP pullout

Tuesday, January 24, 2017 - 01:27