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Vietnam Ratifies Trade Deal, U.S. Losing Out

Vietnam Ratifies Trade Deal, U.S. Losing Out

Photo: WNAX


Vietnam has ratified the Comprehensive and Progressive Agreement for Trans Pacific Partnership, previously known as the TPP without the United States. Dave Warner with the National Pork Producers Council says the development is another case of the U.S. losing market share with an important Pacific Rim customer.

He says currently seven of the 11 nations involved in the new TPP have ratified the agreement. Warner says that means the U.S. needs to move rapidly on bilateral deals with Vietnam, Japan and the Philippines.

Warner says whatever trade deals the U.S. chooses to negotiate they must include elimination of non-tariff trade barriers.

Malaysia, Brunei, Peru and Chili must still sign off on the trade deal.

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