Japan's Parliament Ratifies TPP Despite Dim Outlook

The Japanese parliament passed a bill to ratify the Trans-Pacific Partnership (TPP) trade agreement Friday despite the sinking chances of the pact to be ratified in the United States.

The bill passed a vote in a plenary session of Japan's upper house of parliament Friday afternoon after clearing the vote of a special committee earlier in the day.

Japan's lower house of parliament has voted to ratify the pact and passed a related bill on Nov. 10.

Following the passage of the bill, Japan's cabinet is expected to approve revised ordinances related to the TPP, and thus complete Japan's domestic procedures for ratifying the TPP.

Japan's ruling block has been pushing the TPP trade agreement through the parliament despite staunch criticism from the opposition parties, which maintained that the deliberations on the TPP should be put off to a regular session of the National Diet starting from early next year due to uncertainties of its outlook in the U.S.

U.S. President-elect Donald Trump has repeatedly voiced his opposition to the TPP pact and said he would pull the United States out of the TPP as soon as he takes office.

To make the TPP pact come into effect, at least six original signatories have to have successfully ratified the agreement and those six signatories, between them, must represent 85 percent of the total GDP of the 12 original signatories.

As the U.S. represents nearly 62 percent of the TPP GDP and Japan accounts for some 17 percent, it means that both Japan and the U.S. have to ratify the pact for the TPP to come into effect.

Japan has hoped to change Trump's opinion on the TPP, especially after Abe's meeting with Trump on Nov. 17, as the prime minister said later that he had a "candid" discussion with Trump on a number of issues including trade policies.

Trump, however, "dealt a blow to Abe's foreign policy," according to local reports here, as he unveiled his first 100-day plan in office days later, which is topped by withdrawing from the TPP.

The TPP deal involves Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States and Vietnam. It was formally signed by ministers from the 12 countries in February after more than five years' negotiation.

Source: Xinhua