The TPP Should Go On Without The U.S.

It won’t be as big an achievement, but it will still deliver benefits to the remaining 11 nations

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The U.S. signed the Trans-Pacific Partnership trade deal last year, then decided not to implement it. The 11 other signatories have given themselves until November to decide whether to go ahead anyway. They shouldn’t need half that long. The deal as it stands is far better than none.

Contrary to warnings from some quarters, America’s absence needn’t kill the agreement. The main task for negotiators is changing the clause that says the deal must be ratified by countries accounting for 85 percent of the 12 members’ gross domestic product (the U.S. makes up 60 percent of the current total). Other provisions dealing specifically with the U.S. will need to be adjusted or ignored, but if the 11 want to proceed, they can.

Some are hesitating. Malaysia and Vietnam say they made concessions only in return for better access to the massive U.S. market. Yet apart from a few areas such as textiles, footwear, agriculture, and some auto products, the U.S. market is already pretty open. Without the U.S., expanded intraregional trade will deliver smaller benefits, but the deal is still a net plus.