The Trans-Pacific Partnership will enter into force from December 30, marking a rare victory for global trade liberalisation, even as the US erects tariff barriers and steps up its trade war with China.
Australia on Wednesday became the sixth nation to ratify TPP, crossing the hurdle for the 11-member deal to take effect. The US originally was a member but Donald Trump withdrew from the pact in one of his first moves as president.
The deal will cut tariffs on agricultural imports from Canada and Australia to Japan, putting US farmers at a significant disadvantage, and increasing the pressure for Washington to secure similar concessions from Tokyo.
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